Refineries

BP on Friday said representatives from its 440,000-barrel-per-day oil refinery in Whiting, Indiana had offered to meet United Steelworkers Local 7-1 next week but had yet to receive confirmation from the union. “At our last negotiating session on Monday, October 26, BP again provided revised contract language to address union concerns. We had also expected …

BP Says Whiting, Indiana Refinery Offered to Meet Union, Awaits Response Read More »

(Reuters) – The Iran conflict has sent tanker rates soaring, forcing sellers to deepen discounts on heavy crude grades and giving US Gulf Coast refiners a cost advantage over Asian rivals, executives said after reporting bumper third-quarter profits. Security threats around the Strait of Hormuz, a key maritime chokepoint through which about one-fifth of global …

Soaring Freight Rates Give US Refiners Edge as Crude Discounts Widen Read More »

(Reuters) – US refiner CVR Energy said on Tuesday ‌it would buy two refineries and the marketing business from Marathon Petroleum for about $4.2 billion, nearly ​doubling its refining capacity. Marathon shares rose ​2.2% in premarket trading, while CVR slid ⁠1.3%. The deal includes Marathon’s St. Paul Park ​refinery in Minnesota and Mandan refinery in …

REFINERY PURCHASE: CVR Energy to Buy Two Marathon Refineries, Marketing Business for $4.2 billion Read More »

(Reuters) – Phillips 66 has barred nearly 400 union workers from its Bayway refinery in Linden, New Jersey, after the collective bargaining agreement and an extension of the contract expired. The labor dispute at Bayway, the largest refinery on the U.S. East Coast, comes as gasoline and diesel prices remain elevated amid disruptions to global …

Phillips 66 Locks Out Union Workers at New Jersey Refinery After Contract Expires Read More »