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Refining Business

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  1. Weak refining margins rein in third-quarter earnings growth

    Magazine Articles

    Mon, 9 Dec 2013

    marketing business reported operating earnings plunged 81% to $592 million, as weaker margins, primarily in its refining business , decreased profits by $2.4 billion. The company's upstream earnings were $6.7 billion in this year's

  2. FGE: Japan likely to see further cuts to refining capacity

    Online Articles

    Thu, 22 May 2014

    passed, the ministry is now planning a second phase of the ordinance that will seek to further integrate Japan’s refining business with new targets for refiners to meet by end-March 2017, said FGE. An advisory subcommittee on petroleum and

  3. Eni sheds eastern European refining assets

    Online Articles

    Wed, 7 May 2014

    decrease its overall refining capacity by 7%, the company said. A series of capacity reductions in its Italian refining business over the last 3 years contributed a 13% reduction in the company’s global refining capacity in 2013, according

  4. Capital spending in US, Canada to rise led by pipeline investment boom

    Magazine Articles

    Mon, 4 Mar 2013

    down from $559 million last year. Income project spending will slump 20% to $305 million. Hess will exit the refining business after closing the 70,000-b/d fluid catalytic cracking unit at Port Reading, NJ. It also plans to sell its US

  5. OGJ Newsletter

    Magazine Articles

    Mon, 4 Mar 2013

    Hess announced Jan. 28 that it plans to close the plant at the end of February and complete its withdrawal from the refining business after losing money there in two of the last 3 years. "The gigantic gasoline price spikes hitting customers are

  6. OGJ Newsletter

    Magazine Articles

    Mon, 12 Sep 2011

    Quick Takes Sunoco exiting oil refining business Sunoco Inc., Philadelphia ..... refineries and plans to leave the oil refining business to complete what it calls ..... which is withdrawing from the refining business , agreed in July to sell its

  7. OGJ Newsletter

    Magazine Articles

    Mon, 30 Apr 2012

    refinery, considered pivotal to East Coast product supply, from closing in July. Sunoco, which is exiting the refining business , said it has entered exclusive discussions with the Carlyle Group about a joint venture that would keep the refinery

  8. Murphy agrees to sell Wisconsin refinery

    Online Articles

    Tue, 26 Jul 2011

    By OGJ editors HOUSTON, July 26 -- As part of a strategy announced last year to exit the refining business , Murphy Oil Corp. has entered an agreement to sell its 33,250-b/cd refinery at Superior, Wisc., to Calumet Specialty

  9. EIA sees impacts from idling half of Northeast's refining capacity

    Magazine Articles

    Mon, 9 Jan 2012

    to sell its plants at Marcus Hook (which it idled on Dec. 1) and Philadelphia, with the intent of leaving the refining business in 2012. ConocoPhillips Co. announced later that month that it planned to shut down its Trainer refinery prior

  10. Fitch: 'Reasonably sized' downstream deals to have modest impact

    Magazine Articles

    Mon, 13 Jun 2011

    interest in Ruhr Oel of Germany at $6,868/b/d, and PetroChina's offer of a 50% stake in the European refining business of INEOS at $4,833/b/d. "Russian oil and gas companies remain interested in downstream integration in the

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