BP does not intend to honor the National Oil Bargaining Agreement, says union
The union representing hundreds of workers in BP's Whiting Refinery, the.largest refinery.in the Midwest, announced?on.Friday that the British oil giant does not intend honoring the national oil bargaining agreements.
Union rejects Marathon's Contract Offer
United Steelworkers rejected a comprehensive offer from Marathon Petroleum during talks to create a national model agreement for U.S. workers at refineries and chemical plants, the union said on Wednesday.
Sources say that Repsol, Maurel & Prom are applying to the US for licenses to export Venezuelan crude oil.
Five industry sources have confirmed that several?European oil companies, including Spain's Repsol, France's Maurel & Prom and France's Repsol, have applied to the United States for licenses or authorizations in order to export Venezuelan oil.
Sources say that Chevron is expected to receive an expanded Venezuela license this week from the US.
Three oil industry sources said on Wednesday that Chevron would receive an expanded Venezuela license this week from the U.S. Government. This could allow increased production and exports from South America. Sources said that the U.S.
Sources say that Chevron is expected to receive an expanded Venezuela license this week from the US.
Three oil industry sources told us on Wednesday that Chevron will receive a Venezuela license extension from the U.S. this week. This could lead to increased production and exports. Sources said that the U.S.
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb most of the approximately 1 million barrels of crude oil per day if U.S. Sanctions on Venezuela are lifted. According to a report on Tuesday, the U.S.
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb the majority of the approximately 1 million barrels of crude oil per day that would be traded freely if the sanctions were lifted. The sanctions against the South American nation are lifted.
Phillips 66 claims that two Gulf Coast refineries are capable of processing 100,000 bpd Venezuelan crude
Kevin Mitchell, Chief Financial officer of Phillips 66, said on a Tuesday conference call that the refiner can use Venezuelan crude in two U.S. Gulf 'Coast refining facilities as production increases.
US oil companies benefit after Trump signals access Venezuelan reserves
U.S. Oil Companies' Shares jumped Monday fueled by the prospect that the U.S. could gain access to Venezuela's vast reserves of oil after President Donald Trump announced that the U.S. was taking control…
White House review of waiver plan for biofuel pits refiners against farmers
The White House is reviewing an important rule that could change the balance between oil refiners, farmers and the Renewable Fuel Standard. It will determine how to redistribute large volumes of biofuel…
US refiners may see Q2 profit recover on stronger diesel margins
Investors expect top U.S. refining companies to report higher profits in the second quarter, rebounding from losses experienced during the first three month of the year. This is due to unseasonably high diesel margins that boost earnings.
US refiners are unlikely to spend large amounts to process more domestic crude oil
It can be expensive and time-consuming to change refinery configuration. The margins and yields of refineries can be affected by using different types of crude. By Arathy S. Analysts and industry sources said that U.S.
As Trump tariffs cause demand concerns, refining stocks plummet to levels not seen in two years.
Investors were rattled by fears about a slowdown in oil and fuel consumption and a decline in refining margins after President Trump announced new tariffs. According to LSEG data, the market capitalization…
Stocks of tech and bank companies plummet as China's retaliation fuels fears of a wider trade war
U.S. tech giants, banks, and oil majors all fell on Friday, after China responded to Trump's new tariffs by imposing steep duties. This heightened fears of an economic recession around the world. China…
Elliott group seeks to buy Citgo Petroleum from Exxon director
Gregory Goff, Exxon Mobil's board director, recently joined a newly-formed company backed by Elliott Investment Management that is seeking to take control of Venezuelan oil refiner Citgo Petroleum. Citgo…
Elliott group seeks to buy Citgo Petroleum from Exxon director
Gregory Goff, Exxon Mobil's board director, recently joined a newly-formed company backed by Elliott Investment Management that is seeking to take control of Venezuelan oil refiner Citgo Petroleum. Citgo…
US CFTC fines energy traders
The U.S. Commodity Futures Trading Commission ordered TOTSA TotalEnergies Trading SA on August 27 to pay a fine of $48 million for alleged gasoline price manipulation. Ian McGinley, CFTC Director of Enforcement…
US fuelmakers report lower profits in Q3 due to weaker margins and fuel demand
Energy analysts predict that the third quarter profits of U.S. refiners will be lower than last year due to a decline in margins, as fuel demand has slowed and more refining capacity is coming online.
Trump hosts top US oil executives as trade wars threaten
Donald Trump, the U.S. president, will be hosting top oil executives in the White House this Wednesday to discuss plans for boosting domestic energy production amid falling crude prices and trade wars.
Sources say that Elliott met with BP investors in order to discuss further changes.
Two shareholders have confirmed that Elliott Management, an activist investor in BP, has met with several of the company's largest shareholders to form a consensus on more changes. These could include…