Shale oil will continue to give U.S. refineries a cost advantage over their European peers, but a few big refinery expansions in Saudi Arabia could steal market share.  More »

The largest independent said both production and profits rose in the third quarter, but warned it may begin to pull back its budgets in 2015 as prices fall.  More »

Plummeting crude prices worldwide doubled Phillips 66′s profits in the third quarter, providing the company with a cheaper feedstock to run its refineries.  More »

Phillips 66 will send two crude oil rail facilities and pipeline assets to its midstream master limited partnership in a $340 million deal, the companies announced today.  More »

Warren Buffett showed the energy industry his gloomy side in the second quarter.  More »

Refining and logistics company Phillips 66 saw its second quarter profits fall nearly 10 percent, the company reported Wednesday.  More »

Refining and midstream giant Phillips 66 announced that it would increase its 2014 capital budget by $1.2 billion this year in order to fund its liquefied petroleum gas project as well as a recent acquisition.  More »

San Antonio-based Valero Energy Corp. remains the largest U.S. refiner, with a daily capacity of more than 1.9 million barrels, according to a recent report from the U.S. Energy Information Administration.  More »

Wal-Mart took the No. 1 spot on Fortune’s Gobal 500 ranking of the world’s largest companies based on revenue, but the top of the list was sloshing with oil.  More »

Trains will roll all month out of the Permian Basin, the largest onshore U.S. oil field, as production outpaces pipeline capacity and a refinery outage saps demand.  More »

The decision to allow two Texas companies to export a minimally distilled variety of ultralight oil is a win for Eagle Ford Shale crude producers, at the expense of refiners and companies planning to build processing plants along the Gulf Coast. Refiners were feeling the pain on Wall Street Wednesday.  More »

Phillips 66 announced today that it will buy Spectrum Corp., a Memphis-based specialty lubricants company.  More »