Posted on November 12, 2014 at 12:27 pm by Collin Eaton in
Asia,
Deals,
featured,
Refining |
Phillips 66 is ending its ties to its refining business in Asia with a deal announced Wednesday to sell its 47-percent stake in a Malaysian refinery for $635 million in cash.
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Posted on November 3, 2014 at 2:04 pm by Rhiannon Meyers in
General |
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.
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Posted on October 30, 2014 at 7:35 am by Robert Grattan in
Crude oil,
featured,
Finance/Earnings
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.
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Posted on October 29, 2014 at 8:06 am by Rhiannon Meyers in
Refining
Plummeting crude prices worldwide doubled Phillips 66′s profits in the third quarter, providing the company with a cheaper feedstock to run its refineries.
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Posted on October 22, 2014 at 6:28 pm by Robert Grattan in
Deals,
Pipelines,
Rail
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.
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Posted on August 19, 2014 at 5:16 pm by Collin Eaton in
Finance/Earnings
Warren Buffett showed the energy industry his gloomy side in the second quarter.
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Posted on July 30, 2014 at 7:53 am by Ryan Holeywell in
Finance/Earnings,
Refining
Refining and logistics company Phillips 66 saw its second quarter profits fall nearly 10 percent, the company reported Wednesday.
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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.
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Posted on July 9, 2014 at 1:00 pm by Jennifer Hiller in
Refining
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.
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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.
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Posted on July 3, 2014 at 7:00 am by Bloomberg in
Crude oil,
General,
Pipelines,
Rail,
Refining
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.
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Posted on June 25, 2014 at 11:49 am by Jennifer A. Dlouhy in
featured,
Politics/Policy
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.
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