fuelnozzle

Ethanol Offering Stability

Isaac spares oil refineries in Gulf, yet prices continued to climb over Labor Day weekend. Over Labor Day weekend millions of Americans hit the open road, but with gas prices spiking toward $4 per gallon, many elected to stay home. The oil companies blame Hurricane Isaac for causing the sudden inflation, but the increases continue

CITGO resized

CITGO Improves Safety Rates In 2011

CITGO earns awards and recognition for its increased safety rates in 2011. CITGO Petroleum Corp. saw significant improvements in its refining safety performance in 2011 with both its total recordable incident rate (TRIR) and days away, restricted or transferred (DART) rate falling to about half of what they were the previous year. CITGO excelled in

CITGO Logo process new

CITGO Backs Social Development in Hillcrest Community

CITGO invests $1.5 million to support local non-profit organizations that will improve job development, education, health and environment. CITGO Petroleum Corp. and its Corpus Christi, Texas refinery plan to invest $1.5 million in the Hillcrest, Texas Community to give aid to non-profit organizations that support the neighborhood.  CITGO executives greeted the community on May 17

SUNOCO

Sunoco Acquired By Energy Transfer Partners

As part of the acquisition agreement, ETP is to own Sunoco’s branded retail business, which includes approximately 4,900 retail locations in the U.S. Energy Transfer Partners L.P. (ETP) has acquired Sunoco Inc. The two companies today announced that they have entered into a definitive merger agreement whereby ETP will acquire Sunoco in a unit and

bpstation

BP Terminates Contract With Green Valley Oil

After an oil supply disruption leaves stations without gasoline, BP looks for new distributors. BP has terminated regional distributor Green Valley Oil’s contract, effective Friday, April 13, after some 218 BP stations faced supply disruptions in the greater Boston area. The 218 sites supplied by Green Valley Oil are in Massachusetts (122), Connecticut (55), New

SUNOCO

Sunoco Reports Preliminary Q4 2011 Pretax Results

Retail Marketing earned $40 million pretax in the current quarter versus $1 million in the fourth quarter of 2010. Sunoco Inc. has reported a net pretax loss attributable to Sunoco shareholders of $660 million for the fourth quarter of 2011 versus pretax income attributable to Sunoco shareholders of $119 million for the fourth quarter of

fuelpumpingLARGE

Wholesale Gasoline Costs Mixed in Early November

Wholesale gasoline costs were mixed in major metropolitan markets across the U.S. during the first week of November, while the broader trend is moving higher despite poor demand for gasoline. Should current dynamics hold, we could see the Energy Information Administration’s (EIA) U.S. retail gasoline average moving higher into the Thanksgiving holiday from a four-week

Is Big Oil Losing its Drawing Power?

For many, many years the power of the Big Oil brands was indisputable. They owned the refineries, the stations and the credit card networks to boot. While my father was an Exxon dealer and jobber for more than 30 years I distinctly remember seeing Shell and Texaco credit cards lying around the house. In those

SUNOCO

Breaking News: Sunoco Selling Refineries

“Given the unacceptable financial performance of these assets, it is clear that it is in the best interests of shareholders to exit this business,” says Sunoco CEO. Sunoco Inc. announced today, Tuesday, Sept. 6, 2011, that it plans to exit the refining business. Philadelphia-based Sunoco, which owns two refineries—one in Philadelphia and one in Marcus

speedway

Marathon Petroleum Hungry For Acquisitions

Following its separation from Marathon Oil Corp., Marathon Petroleum is now preparing to grow its Speedway brand.  Marathon Petroleum Corp., which spun off from Marathon Oil Corp. last month, is searching for acquisitions and seeking assets that meld with its strategy of refining oil and distributing the fuels produced, Reuters reported. “We have an appetite

Retail Gasoline Prices to Ease off Five-Month High

By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices across the U.S. moved lower during the second full week of October, halting a march higher in gasoline costs that started in September. The decline in wholesale gasoline costs will pressure retail gasoline prices that have been moving sharply higher during a time

CITGO Opens ULSD Unit at Lemont Refinery

CITGO Petroleum Corp. has completed the construction and start-up of a major processing unit to produce Ultra-Low Sulfur Diesel (ULSD) at its Lemont, Ill., refinery. In compliance with Environmental Protection Agency (EPA) standards, the unit is equipped with the latest technology designed to reduce, by 98%, the sulfur content of diesel transportation fuel produced at

Tesoro Grows Shell Retail Network

Tesoro Corp. is set to acquire the existing Shell-branded wholesale supply contracts in North Dakota, South Dakota, Minnesota, Utah and most of Idaho. The acquired contracts represent approximately 300 Shell-branded stations. Under the terms of the agreement, Tesoro may also grow the Shell brand through retail stations in these areas, which are anchored by the

BP To Pay $50.6 Million In Settlement

BP Products North America Inc. is set to pay a full penalty of $50.6 million stemming from the 2005 explosion at its Texas City, Texas, refinery that killed 15 workers and injured 170 others, the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has announced. The agreement resolves failure-to-abate citations issued after a

Chevron Cited After Spill

Utah regulators have cited Chevron Corp. for a pipeline leak that sent 33, 000 gallons of crude oil into Salt Lake City’s Red Butte Creek last month, the Associated Press reported. Much of the oil collected in a pond at the city’s Liberty Park and, according to regulators, oil traveled downstream into the Jordan River.

BP Erects Gulf Coast Restoration Organization

BP’s has instituted a new Gulf Coast Restoration Organization, set to manage the company’s long-term response to the Deepwater Horizon incident and the MC252 oil and gas spill. Effective immediately, Bob Dudley has been appointed president and CEO of BP’s new Gulf Coast Restoration Organization, and will report to Tony Hayward, BP’s Group Chief Executive. The

Gasoline Continue Slide into Memorial Day

By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices continue tumbling, down nearly 50 cents from the start of May after another week of double-digit declines across most metropolitan markets nationwide through May 24. The drop in wholesale values is gradually filtering through to retail outlets, offering a savings for holiday travelers

Gasoline Continue Slide into Memorial Day

By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices continue tumbling, down nearly 50cts from the start of May after another week of double-digit declines across most metropolitan markets nationwide through May 24. The drop in wholesale values is gradually filtering through to retail outlets, offering a savings for holiday travelers this

Utah Gas Prices Surge

Gas prices are on the rise in Utah where the average price for a gallon of gas on Thursday was $3.10, Rolayne Fairclough, spokeswoman for AAA Utah told South Utah’s The Spectrum. With only Hawaii, Alaska and California posting higher prices that makes Utah’s gas prices the fourth highest in the nation. This is a

Gasoline Prices Retreat from Fresh Highs

Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline values are easing from an 18-month high while the national average for retail gasoline prices started April at a 17-month high, prompting some in the industry to quip, “It’s déjà vu all over again,” borrowing a line from legendary baseball star Yogi Bera. Widely discussed,

Chevron Announces $1 Million Investment in South Bay Schools

Chevron Products Co. plans to distribute a series of “Energy for Learning” grants totaling $1 million among 15 South Bay schools, signifying the largest science, technology, engineering and math (STEM)-related donation ever made by Chevron’s El Segundo Refinery in support of local educational programs.  As part of the announcement activities, and in recognition of Mathematics

Gulf Oil Enters Maryland

Gulf Oil has signaled its branded return to Maryland, by announcing a branded distributor partnership with Bedford Valley Petroleum, which plans to rebrand nine retail motor fuel outlets in Pennsylvania and Maryland to the new Gulf “Sunrise” image. “We are excited to be able to bring the Gulf family to Maryland and build upon its

Chevron To Layoff Workers

Chevron Corp. is shrinking its staff from its crude-oil refining and marketing segments by more than 20% as fuel demand remains low, The Wall Street Journal reported. Some 2,000 workers were laid off in 2009, and an equal number of layoffs are ahead this year and more are expected to continue in 2011. In 2008,

BP Looks To Future Goals

BP has outlined plans to further boost efficiency and reduce costs as it plans to improve its annual underlying pre-tax profitability by more than $3 billion over the next two to three years, the company announced in a press release. In addition, the company has extended its medium-term oil and gas production outlook, projecting that

Retail Gasoline Prices Moving Sharply Higher

Brian L. Milne, Refined Fuels Editor, Telvent DTN A recent government report showed inflationary pressure coming from higher gasoline prices in January, highlighting the impact of last month’s early surge in prices at the pump. Retail gasoline prices fell from early January highs, and inflation is not a near-term threat. In fact, the Consumer Price

7ads6x98ycss.php