Moody’s: Refineries face flat demand, new competition
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 »
Oil industry execs among donors to Koch brothers super PAC
The Koch brothers have long kept the donors to their political causes secret, but rules governing a new super PAC they formed require that the backers be made public. More »
Marathon Petroleum buys Hess retail for $2.87 billion
Marathon Petroleum Corp. (MPC) agreed to acquire Hess Corp.’s gasoline stations and retail business for a total of $2.87 billion, expanding its footprint to 23 states from nine. More »
Marathon proposes Louisiana refinery expansion
Marathon Petroleum Corp. said it is taking the next step toward a potential $2.2 billion to $2.5 billion upgrade to the company’s Garyville refinery. More »
Debate on crude export ban ignites lobbying in DC
A high-profile debate over the 39-year-old ban on exporting U.S. crude unleashed a wave of lobbying in the nation’s capital, government filings reveal.
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Moody’s: New Chinese plants could hamper global refining earnings
Cheap natural gas and oil supplies will give Gulf Coast refiners an edge in global markets, but over the next two years new plants coming online in China and the Middle East are poised to dampen worldwide demand for refined products like gasoline, according to a report released Monday. More »
Marathon agrees to fund 37.5 percent of pipeline
Marathon Petroleum Corp. has agreed to pay for more than a third of the construction cost of the proposed Sandpiper pipeline, the company and Enbridge Energy Partners LP said Monday. More »
Marathon to accelerate Garyville hydrocracker expansion
Marathon Petroleum Corp. (MPC) plans to acclerate by a year the final phase of a project to increase the size of a hydrocracker at the Garyville refinery, the biggest in Louisiana. More »
Marathon Petroleum falls on weak 2Q profit outlook
Shares of Marathon Petroleum slid 5 percent Tuesday after a weak second-quarter earnings forecast. More »
Marathon Oil chief information officer retires, new exec named
Leadership changes also were announced this week at Chevron and at Marathon Petroleum. More »
BP completes $2.4B sale of Texas City refinery
British oil giant BP said Friday it has completed the sale of its Texas City refinery, where a 2005 explosion killed 15 workers, and other assets to Marathon Petroleum Corp. for roughly $2.4 billion. More »
Billionaire investor calls for Hess spin off
Billionaire Paul Singer’s firm today proposed five new Hess board members and called on the company to consider strategic options including spinning off its Bakken shale assets. More »
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