Harvey's Rains Shut in More Refineries, Sending Fuel Prices Higher
U.S. fuel prices surged on Monday as two more Gulf Coast refiners cut output and a third considered reductions, leaving more than 13 percent of the country's refining capacity offline after Tropical Storm Harvey flooded plants and shut seaports. The storm swung back over the…
Harvey Throws a Wrench into US Energy Engine
A hurricane in the heart of the U.S. energy industry is expected to upend years of U.S. excess oil capacity and low prices, with the impact expected to reverberate globally and affect energy markets for weeks. Harvey hit the Texas shore as a fierce Category 4 hurricane, causing massive flooding that knocked out 11.2 percent of U.S.
Marathon Processed Record Crude Volumes in 2Q
Marathon Petroleum Corp processed a record 1.9 million barrels per day of crude oil at its seven U.S. refineries in the second quarter, fueled in part by robust refined product exports, the company's chief executive said on Thursday. U.S. exports of refined products have been a bright spot in the U.S. refining market this year.
Another Quarter of Weak Results Looms for U.S. Refiners
U.S. independent refiners such as PBF Energy and Phillips 66 are expected to report another quarter of disappointing profits in coming weeks, as hopes that a record summer driving season would turn the industry's fortunes around do not appear to have materialized. U.S. refiners…
Marathon Lays off 46 at Galveston Bay Refinery
Marathon Petroleum Corp on Tuesday laid off 46 salaried employees at the company's Galveston Bay Refinery in Texas City, Texas, the company said. "This reduction is one element of a cost savings strategy that will better position the refinery to be competitive well into the future," Marathon spokesman Chuck Rice said in a statement.
Marathon Petroleum Senior VP to Retire
Marathon Petroleum Corp. (MPC) announced the retirement of Richard D. Bedell, senior vice president of Refining, effective March 1. Raymond L. Brooks, currently general manager of MPC's Galveston Bay refinery in Texas City, Texas, will replace Bedell. Bedell joined Marathon…
Gulf Oil Spill Restoration Projects Proposed
The trustees and BP have identified approximately $134 million in projects to be included in the next proposed phase of early restoration. This milestone comes five years after the Deepwater Horizon oil spill in the Gulf of Mexico. The 10 proposed projects would benefit sea turtles…
FERC Halts Colonial Pipeline Tariff Change
The Federal Energy Regulatory Commission has suspended a revised tariff for the Colonial Pipeline after two small shippers complained it would squeeze access and limit competition, according to regulatory filings. The tariff would change how space is used on the jam-packed gasoline and distillate system…
Marathon Petroleum Aims to Integrate 2 Texas Refineries
Marathon Petroleum Corp is aiming to integrate its Texas refineries as part of a plan to increase diesel fuel output, Chief Executive Gary Heminger told analysts on Tuesday. The company plans to take its 451,000 barrels per day (bpd) Galveston Bay refinery and its adjacent 84…
Update: U.S. to Seize Kurdish Oil from Tanker off Texas
U.S. authorities are set to seize a cargo of oil from Iraqi Kurdistan anchored off the Texas coast after a judge approved a request from Baghdad, raising the stakes in an oil sales dispute between Iraq's central government and the autonomous region. The tanker United Kalavrvta…
U.S. 2014 Refinery Capacity, Ownership, Updated in EIA Analysis
In its 2014 U.S. petroleum refinery update the U.S. Energy Information Administration - EIA - informs that capacity edges up, ownership shifts. As of January 1, 2014, there were 139 operating refineries and three idle refineries with total atmospheric crude oil distillation…
Houston May Outgrow its Skilled Labor Supply
Bustling Houston, one of the bright spots in the U.S. economy, is growing so fast that business leaders fear running out of skilled labor as billions are spent building new energy infrastructure on the Gulf Coast. The Greater Houston Partnership, the business chamber for the 10-county region…
Texas City Oil Spill Update: Pollution Affects Coast
The Captain of the Port of Houston/Galveston opened the bay to all traffic Thursday after multiple cleanup assessments and input from the Texas Department of State Health Services. Oil is washing up on Matagorda Island. Coast Guard recruit volunteer 'Sentinels. After storms…
