Refining News

Philadelphia Energy Solutions


Philadelphia Energy Solutions LLC, the owner of the largest U.S. East Coast oil refining complex, announced to its employees on Sunday that it plans to file for Chapter 11 bankruptcy. more

Jan 22, 2018 10:38 AM Refining/Petrochemical

ExxonMobil has been named 2017 Explorer of the Year by the World Oil and Gas Council. more

Jan 22, 2018 10:22 AM Drilling & Exploration

“Global oil demand is likely to continue growing for a period, driven by rising prosperity in fast-growing developing economies,” they wrote in a paper published on Monday. more

Jan 20, 2018 7:00 AM Refining/Petrochemical

An auction of deepwater oil and gas fields in Mexico this month may prove the last major opportunity for President Enrique Pena Nieto’s government to capitalize on its opening of the energy sector, the central plank of its economic agenda. more

Jan 19, 2018 12:00 AM Drilling & Exploration

OPEC has raised its forecast for oil supply from non-member countries in 2018 as higher prices encourage U.S. shale drillers to pump more, offsetting an OPEC-led deal to clear a supply glut and a deepening plunge in Venezuelan production. more

Jan 18, 2018 9:01 AM Refining/Petrochemical

Several major U.S. Gulf Coast refineries were restarting operations on Wednesday as temperatures warmed following record lows across the region overnight, freezing instrumentation and snapping power lines, according to refining sources. more

Jan 18, 2018 7:00 AM Refining/Petrochemical

Praxair, Inc.has expanded its long-term hydrogen supply agreement with Motiva Enterprises LLC. Under this agreement, Praxair will increase the amount of hydrogen it supplies to Motiva’s approximately 600,000 barrel per day refinery in Port Arthur, TX more

Jan 17, 2018 7:00 AM Refining/Petrochemical

Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. more

Jan 16, 2018 9:31 AM Drilling & Exploration

Oil hovered below a three-year high near $70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, but analysts warned of “red flags” due to surging U.S. production. more

Jan 15, 2018 9:09 AM Refining/Petrochemical

EIA’s January Short-Term forecasts Brent crude oil to average $60/b in 2018 and $61/b in 2019, slightly higher than the $54/b average in 2017. Because crude oil prices are expected to be relatively flat through 2019, U.S. gasoline prices are also exp more

Jan 13, 2018 7:00 AM Refining/Petrochemical

Crude ended the week with a gain after breaching a key $70 threshold and rallying for five straight days. more

Jan 12, 2018 5:08 PM Refining/Petrochemical

IGP Methanol LLC was granted a title V Air Quality Permit by the Louisiana Department of Environmental Quality for their Gulf Coast Methanol facility, located in Plaquemines Parish, Louisiana. The Gulf Coast Methanol Park will consist of four... more

Jan 12, 2018 8:55 AM Chemical Processing

EIA Figure 1. Wst Texas Intermediate (WTI) crude oil price

Source: U.S. Energy Information Administration, Short-Term Energy Outlook, January 2018, and CME Group

The price of Brent crude oil averaged $54/barrel (b) in 2017, an increase of $10/b from 2016. EIA’s January Short-Term Energy Outlook forecasts Brent to average $60/b in 2018 and $61/b in 2019. In both 2018 and 2019... more

Jan 12, 2018 7:00 AM Refining/Petrochemical

Oil prices are expected to remain close to current levels, averaging around $60 to $70 per barrel through the end of the decade, according to the annual survey of energy professionals conducted by Reuters. more

Jan 11, 2018 9:47 AM Refining/Petrochemical

Enterprise Products Partners L.P. announced that the partnership plans to expand its butane isomerization facility at its complex in Mont Belvieu, Texas. This expansion is supported by long-term agreements to provide butane isomerization, storage... more

Jan 9, 2018 11:35 AM Midstream

In late 2016, the difference between U.S. average retail prices for premium and regular gasoline reached 50 cents per gallon. This price spread has been generally expanding since 2000, and the rate at which the spread has grown has accelerated... more

Jan 8, 2018 7:00 AM Refining/Petrochemical

When the administration of U.S. President Donald Trump proposed new subsidies for coal and nuclear plants, it seemed like an obvious way to deliver on campaign promises to boost the nation’s energy industry. more

Jan 5, 2018 9:05 AM Refining/Petrochemical

The U.S. energy industry is facing a massive test of its infrastructure as an intense winter storm roars up the Atlantic Coast, threatening power outages, refinery shutdowns and spikes in heating prices. more

Jan 5, 2018 8:55 AM Refining/Petrochemical

Looking back at 2017 with BIC Magazine. Here are the top 10 most-read articles online for the year. more

Jan 5, 2018 8:55 AM Refining/Petrochemical

Oil giant BP will take a one-off $1.5 billion charge to adjust to new U.S. tax rules, but expects a long-term boost from the corporate-friendly tax rates. more

Jan 3, 2018 7:00 AM Refining/Petrochemical

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