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Keyword: refineries

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  • Things are so terrible that America was the world’s top petroleum, natural gas producer in 2017

    05/24/2018 9:57:29 AM PDT · by rktman · 24 replies ^ | 5/24/2018 | Jazz Shaw
    In case you’re growing tired of waking up every morning and checking social media or reading the Washington Post and hearing about how awful everything is these days, how about some good news? The U.S. Energy Information Administration has finished compiling all of the production numbers for last year and determined that America was the global leader in production of both petroleum and natural gas. And in terms of who else was in the hunt, it wasn’t even close.
  • The Biggest Threat To U.S. Oil Exports

    01/30/2018 4:11:41 PM PST · by bananaman22 · 20 replies ^ | 30-01-2017 | Nick Cunningham
    For much of last year, the two crude oil benchmarks traced one another pretty closely, with Brent often trading at a relatively minor $1 to $3 per barrel premium to its American counterpart. But the spread between the two blew out after Hurricane Harvey, an event that took several million barrels per day of refining capacity offline for a few weeks. Crude oil piled up into storage, and the glut pushed the WTI benchmark down relative to Brent. The refineries along the Gulf Coast returned to operations within a relatively short period of time, but the effects of the disaster...
  • Hurricanes Aren't the Only Reason Gas Prices Are High

    10/19/2017 1:13:49 PM PDT · by TBP · 18 replies
    The Foundation for Economic Education (FEE) ^ | October 19, 2017 | Jacob R Borden
    Hurricanes Harvey, Irma, and Nate highlighted the exposure to life and property all along the Gulf Coast. Of the critical national assets that took a hit, the crux of the U.S. refining industry suffered dramatically. As a result of Harvey alone, twenty refineries in the 300 miles between Corpus Christi and Beaumont were forced to shut down or dramatically reduce rates. The spot price of ultra-low sulfur diesel (ULSD) promptly increased by 10%, while that for gasoline and jet fuel increased by 25%. All three prices remain about 10% higher than before the hurricanes, in part due to regulatory constraints...
  • Refinery problem sends gasoline prices soaring in upper Midwest

    08/12/2015 10:43:45 AM PDT · by afraidfortherepublic · 36 replies
    Milwaukee Journal Sentinel ^ | 8-12-15 | Joe Taschler
    If you are near a gas station in metro Milwaukee, you might want to stop and fill up. Right now. As oil prices have hit their lowest price in 6 years this week, gasoline prices in Milwaukee are soaring. Wholesale gasoline prices are now higher than retail prices in the upper Midwest and that means prices at the pump will jump in coming days. "It's going to be very ugly," said Patrick DeHaan, senior petroleum analyst at The wholesale price of gasoline has risen 90 cents since Monday. As of Wednesday morning, the wholesale price was higher than retail,...
  • Union strikes at 9 US refineries in bid for new contract

    02/01/2015 12:34:34 PM PST · by george76 · 41 replies
    CNBC .. Reuters ^ | Feb 1, 2015 | Lucy Nicholson
    Union leaders called strikes on Sunday at nine U.S. refineries in a bid to pressure oil companies to agree to a new national contract covering workers at 63 plants. The walkouts, the first held in support of a nationwide pact since 1980, target plants that together account for more than 10 percent of U.S. refining capacity. The discord comes as plunging crude prices force oil companies to slash spending. Royal Dutch Shell, the lead industry negotiator, indicated talks had broken down. ... Shell activated a strike contingency plan at its sprawling joint venture refinery in Deer Park, Texas, to keep...
  • High Noon on the Gulf Coast: Canada, Saudi Oil Set for Showdown

    01/06/2015 10:43:07 AM PST · by thackney · 9 replies
    Reuters via Rig Zone ^ | January 06, 2015 | Catherine Ngai
    As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian and Saudi Arabia heavy crudes for America's Gulf Coast refinery market threatens to drive prices even lower. While the stand-off between the oil cartel and U.S. producers of light, sweet shale oil has captured the limelight in recent months, the clash over heavier grades - playing out in the shadowy, opaque physical market - may put even more pressure on global prices that have halved since mid-2014. Two factors will come into play over the next few...
  • Eagle Ford condensate producers win, refiners lose in oil export decision

    06/25/2014 5:12:18 PM PDT · by shove_it · 23 replies
    SeekingAlpha ^ | 25 Jun 2014
    The decision to allow two Texas companies to export condensates looks like a win for Eagle Ford Shale crude producers at the expense of refiners and companies planning to build processing plants along the Gulf coast. Today's selloff in refiners reflected concern that the groups will lose some of their competitive edge if condensate exports become common: Valero Energy (VLO), the largest U.S. refiner, dropped 8.3%, PBF tumbled 10.72%, PSX fell 4.2%, and HFC slid 6.7%. Oppenheimer notes that Pioneer Natural Resources PXD, DVN, MRO, COP and MUR produce the most Eagle Ford condensate, and could benefit if U.S. condensate...
  • Eagle Ford crude prompts upgrades at Valero’s Texas refineries

    02/03/2014 12:16:30 PM PST · by thackney · 8 replies
    Oil & Gas Journal ^ | 02/03/2014 | Robert Brelsford
    Valero Energy Corp., the largest US independent refiner-marketer, plans to invest $730 million in upgrading two of its Texas refineries to process increased volumes of light crude sourced from the Eagle Ford shale. The company will spend $390 million at its 160,000-b/d Houston refinery and $340 million at its 325,000-b/d Corpus Christi, Tex., refinery to add crude topping units designed to boost crude oil processing capacities at each of the plants, Valero spokesman Bill Day told OGJ. While the addition of these units will not add to the refineries’ overall output capacities, they will allow the plants to reduce their...
  • Ownership of U.S. petroleum refineries has changed significantly since 2000

    01/30/2014 5:18:22 AM PST · by thackney · 11 replies
    Energy Information Administration ^ | JANUARY 29, 2014 | Energy Information Administration
    U.S. refining capacity increased since 2000 as capacity additions outpaced the loss of capacity from three major refinery closures. Yet the number of refineries and companies both declined over the same period, as the concentration of refining capacity among the top five companies increased from 38% in 2000 to 44% in 2013. Ownership of U.S. refinery capacity changed substantially in recent years, notwithstanding relatively slow changes in refinery capacity and the number of companies involved in the refining sector. An examination of company-level information and transactional data since 2000 shows both consolidation and dispersion. Almost 40% of large refiners (i.e.,...
  • Washington's Latest Special Favor (Of the nation's 143 refineries, one was exempted)

    08/10/2013 2:00:34 PM PDT · by Hojczyk · 26 replies
    The Wall Street Journal ^ | AUG 8,2013 | KIMBERLEY A. STRASSEL
    This matters because for refineries to stuff ballooning amounts of ethanol into a static gas pool, they must blend it at levels of more than 10%. Since the nation's auto makers have declared they will void the warranties of cars using gas with more than 10% ethanol, refineries face lawsuits. Most have instead turned to buying federal renewable "credits" to make up for the ethanol they don't blend. As demand for these credits skyrockets, so has the price—jumping from a few pennies a gallon last year to close to $1 a gallon today. Oil refiner Valero has said the credits...

    02/09/2002 4:16:51 PM PST · by RaceBannon · 480 replies · 3,525+ views
    not sure yet ^ | 02/09/02 | RaceBannon
    VANITY POST: I have been trying recently to compile any articles of Arabs within the United States or Europe taking pictures of Nuclear Plants, Chemical Plants, large buildings.
  • Report: EPA-funded group misleads public, government agencies

    10/23/2012 12:42:54 PM PDT · by tobyhill · 5 replies
    daily caller ^ | 10/23/2012 | Michael Bastasch
    An EPA-funded environmental group has been disseminating misleading data about refineries to make them appear to be more dangerous than they actually are in order to invite federal intervention, according to a report to be released early this week. The Environmental Protection Agency has been bankrolling a project by the Louisiana Bucket Brigade, a state-based environmental group, called the Refinery Efficiency Initiative which has been presenting misleading information to the media and to regulators, according to a report by the Pelican Institute, a Louisiana-based think tank. “[The Louisiana Bucket Brigade] refinery transparency initiative bankrolled with taxpayer money has flooded the...
  • Refiners are being squeezed

    05/09/2012 10:27:14 AM PDT · by Oldeconomybuyer · 1 replies
    The Atlanta Journal-Constitution ^ | May 9, 2012 | By Charles T. Drevna
    America’s petroleum refiners manufacture safe, proven and reliable high-quality fuels and other products in an environmentally responsible manner to keep America moving, our economy growing, our citizens employed and our nation secure. But refiners are being squeezed by costly government overregulation, foreign competition, high oil prices and reduced fuel demand. A recent report by the Department of Energy found the compounded burden of federal regulations was a significant factor in the closing of 66 oil refineries in the United States in the past 20 years, wiping out thousands of jobs. Two money-losing refineries in the Philadelphia area are threatened with...
  • Gas Prices Still Going Up, Refineries Shutting Down

    03/19/2012 6:44:11 AM PDT · by Halfmanhalfamazing · 69 replies · 1+ views
    Boise Weekly ^ | March 18th | George Prentice
    Energy industry analysts say there's no relief in sight at the nation's gas pumps. While prices jumped 6 percent in February, market experts said many of the nation's refineries have been idled or shut down permanently because their owners claimed they were losing money on them. According to the Wall Street Journal, Sunoco is expected to close another of its large refineries this July, "taking another 335,000 barrels per day in production capacity off the market."
  • Texas leads U.S. in greenhouse gas emissions

    01/12/2012 6:44:06 AM PST · by smokingfrog · 40 replies ^ | 11 Jan 2012 | Matthew Tresaugue
    As the nation's light switch and gas pump, Texas releases far more greenhouse gases into the air than any other state, according to federal data released Wednesday. Texas' coal-fired power plants and oil refineries generated 294 million tons of carbon dioxide and other heat-trapping gases in 2010, more than the next two states - Pennsylvania and Florida - combined, the data shows. The Environmental Protection Agency released the data by industrial facility for the first time as part of a broader effort to reduce emissions linked to global warming. The agency collected data from more than 6,700 industrial facilities that...
  • Gasoline may rise above $4 as plants [refineries] shut

    12/31/2011 10:14:42 AM PST · by Lorianne · 61 replies · 1+ views
    source cannot be posted
    see link in first post
  • Chuck (Schumer): Probe oil refiners' profits

    05/29/2011 2:40:04 PM PDT · by lowbridge · 46 replies
    NY Post ^ | May 29, 2011
    New York Sen. Charles Schumer wants the government to investigate U.S. oil refiners' skyrocketing profits, which he said are to blame for high gas prices. "Something is rotten," said the Democrat, speaking today at a gas station on Manhattan's West Side. He said refiners' profits have more than doubled since last year. Meanwhile, the price of unleaded gas went up by almost 12 percent in just the two weeks ending May 6, topping $4 a gallon in New York. The senator said he believes refiners may be fixing prices by cutting back on stockpiles — by keeping refining capacities to...
  • Democrat Seeking ‘Price-Fixing’ Probe of Oil Refineries Not Sure How Many Are Run by ‘Big Oil’

    05/20/2011 10:50:44 AM PDT · by jazusamo · 12 replies
    CNSNews ^ | May 20, 2011 | Penny Starr
    ( - Senate Democrats are calling on the Federal Trade Commission to investigate possible price-fixing of gasoline by U.S. refineries because “recent reports,” according to the senators, suggest the refiners are trimming supply to keep prices high. But a federal report from November shows that refinery stockpiles started to decline in 2008, if not earlier. At a press conference on Tuesday, Sen. Claire McCaskill (D-Mo.) and Sen. Charles Schumer (D-N.Y.) announced that they had sent a letter that day to the FTC, “to request the Commission begin an investigation into potential price fixing of gasoline by U.S. refiners.” “Recent...
  • Texas City residents ordered to stay indoors as more refineries lose power

    04/26/2011 12:25:39 PM PDT · by DallasDeb · 27 replies
    AP ^ | 04/26/2011 | Juan A. Lozano
    TEXAS CITY, Texas (AP) — Three refineries, including a BP unit where a 2005 explosion killed 15 people, and a Dow Chemical plant lost electricity in outages that led to shelter-in-place emergency alerts and the cancellation of public schools Tuesday in Texas City. The source of the power outages was still being sought, emergency officials said. A second shelter-in-place alert, advising residents to stay indoors, was issued around 5:30 a.m. Tuesday after a Valero refinery also lost power, Texas City Homeland Security coordinator Bruce Clawson said. A BP refinery, site of the deadly March 2005 accident that also left 170...
  • West Coast energy operations brace for tsunami

    03/11/2011 10:41:31 AM PST · by Qbert
    Reuters via Yahoo Finance ^ | 3/11/2011 | Reuters
    NEW YORK (Reuters) - U.S. energy companies with operations in Hawaii, Alaska and along the coasts of California, Oregon and Washington were on alert on Friday for the possibility of a tsunami set off by a massive earthquake off Japan reaching U.S. shores. Tesoro Corp which has the largest concentration of refinery capacity in the region, said it had closed a few retail stations in some low lying areas of Hawaii as a precaution and was monitoring operations at its refineries in Hawaii, Alaska, California and Washington.