Oil companies led by Marathon Petroleum (MPC.N) and the United Steelworkers (USW) agreed to a new national contract on Friday for 30,000 U.S. workers in refineries, chemical plants, and pipelines, Continue Reading
While gasoline prices continue to be a troubling political factor for the Biden Administration, the recent inclement weather in refinery country on the U.S. Gulf Coast has caused two major Continue Reading
The facility is crucial to Pemex’s plans to halt crude oil exports in 2023. Mexico’s mega-refinery project Dos Bocas is expected to cost 40% more than previously estimated and is Continue Reading
Highlights 2021 ends “on a high note” for global industry Capacity additions in 2022 could weigh on margins Refinery closures outweighed new capacity in 2021, leading to a drop in Continue Reading
Processing the high-sulfur crudes produced in the Gulf of Mexico hasn’t been this profitable since 2017, thanks largely to cheap shale gas. While Europe and Asia grapple with surging prices Continue Reading
Motiva Enterprises (MOTIV.UL) on Monday restarted the second-largest crude distillation unit (CDU) and small coker at its 607,000-barrel-per-day Port Arthur, Texas, refinery, said sources familiar with plant operations. A Motiva Continue Reading
Asian oil refiners are starting to see a recent resurgence in profitability go into reverse, eroding a source of demand strength that helped drive crude prices to an seven-year high Continue Reading
U.S. merchant oil refiners like Monroe Energy and PBF Energy Inc (PBF.N) are playing chicken with the White House, taking moves in the biofuels credit market that could force them Continue Reading
Marathon Petroleum Corp (MPC.N) signaled on Tuesday that a sustained rally in natural gas prices could take a toll on earnings, sending the largest U.S. refiner’s shares down 4%. The Continue Reading
Surging prices for natural gas are threatening to eat up the profit some oil refiners are making on their fuels, forcing them to cut processing rates and even altering normal Continue Reading
