The Royal Dutch Shell Group has named its current refining and marketing head Ben van Beurden to become its new chief executive. Van Beurden will take the helm on Jan. 1, 2014, replacing retiring CEO Peter Voser. “Ben has deep knowledge of the industry and proven executive experience across a range of Shell businesses,” Shell
BP announced that it has joined the automotive industry’s TOP TIER program for gasoline detergency standards. Although all three BP-branded gasoline grades treated with the company’s proprietary Invigorate additive have always exceeded the TOP TIER standard for detergency, the company formally joined the program on June 24th. “We are committed to providing our branded marketers
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices in the U.S continue to move higher and climbing wholesale costs in most major metropolitan markets through mid-March show the trend will continue into April. Moreover, the swift increases in gasoline costs that are being passed through the supply chain suggest the U.S.
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The Energy Information Administration’s (EIA) U.S. average price for regular grade gasoline spiked to a $3.721 gallon 8-1/2 month high on Feb. 27, and is poised for a further advance despite mixed wholesale costs in early March. Retail prices have never been this high this early
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices in the U.S., which have already reached a nearly five-month high, are set to again increase as wholesale costs continue to climb on multiple factors from geopolitical risk to unexpected refinery outages. At $3.523 gallon as of Feb. 13, the Energy Information Administration’s
For the week through Dec. 5 U.S. wholesale gasoline costs mostly increased, while activity in the European Union coupled with heightened rhetoric from Iran are seen pushing gasoline prices even higher. Additionally, Sunoco Inc. announced Dec. 1 that it was beginning to idle the main process units at it Marcus Hook refinery near Philadelphia, Pa.,
Separating upstream and downstream operations will make ConocoPhillips the largest independent refiner in the U.S. ConocoPhillips has announced it plans to split its business in two, separating its upstream and downstream operations, the Wall Street Journal reported. The news that the company will separate its refining-and-marketing assets from its energy and power companies sent shares of