Refineries

(Reuters) – The return to service of BP’s Whiting, Indiana refinery has been delayed, industry sources said. BP started the planned turnaround activity at its 435,000 barrel-per-day refinery in late September. The refinery began restarting units involved in the turnaround in early November. A source said at least two of the units have experienced startup …

BP’s Whiting Refinery in Indiana Delays Return to Service, Sources Say Read More »

(Reuters) – Phillips 66 beat quarterly profit estimates on Tuesday as strength in its chemicals and midstream segments helped the refiner more than offset a slump in refining margins from lackluster fuel demand. The company, which owns nearly 72,000 miles of U.S. pipeline systems, has moved more fuel this year than before as it expands …

Refiner Phillips 66 reports Q3 profit beat on midstream, chemicals strength Read More »

(Reuters) – U.S. crude oil refiner Valero Energy Corp said on Thursday it is considering a range of options that could include selling its two California refineries due to growing regulatory pressure in the state. Chief Executive Lane Riggs said during a conference call “all options are on the table” for the company’s two California …

Valero CEO Says All Options Are On The Table For Two California Refineries Read More »

Summary Court gets an earful from firms opposing proposed bid Heated opposition to negotiating exclusivity, breakup fee offer Final recommendation on sale could be stalled until January HOUSTON, Oct 21 (Reuters) – Key terms of a proposed court agreement with a U.S. hedge fund seeking to gain control of oil refiner Citgo Petroleum from Venezuela …

Citgo Auction Creditors Assail Elliott Bid, Seek Rival Offers Read More »

Exxon Mobil Corp. said lower oil prices and refining margins reduced third-quarter earnings by $1.6 billion compared with the previous period. The oil giant revealed quarterly earnings guidance in a regulatory filing Thursday. The impacts of lower oil prices and shrinking refining margins will be partly mitigated by gains of about $900 million from timing effects and …

Exxon Sees $1.6 Billion Earnings Hit From Oil, Refining Margins Read More »

Summary Investment firm tops rival offers by CVR Energy, Gold Reserve Bid combining cash, credit is subject to court case resolutions Elliott’s interest in Citgo follows good results from stakes in Marathon Petroleum, Phillips 66 HOUSTON, Sept 27 (Reuters) – An affiliate of Elliott Investment Management on Friday was named the presumptive winner in a …

Elliott Affiliate Wins Citgo Share Auction with $7 Billion Conditional Offer Read More »