Latest Oil refining News
Chevron restructures refining, cutting 2,000 jobs (Market Watch)
Chevron plans to cut 2,000 jobs as part of an effort to realize savings in its refining operations, as the oil major signals that recent woes in the business of making gasoline and diesel fuel will persist beyond 2010.
(AFX UK Focus) 2010-03-10 06:20 Idemitsu sees 2010/11 crude refining down 4 pct y/y (Interactive Investor)
TOKYO, March 10 (Reuters) - Idemitsu Kosan Co, Japan's third-largest refiner, said on Wednesday it plans to refine 26 million kilolitres of crude oil in the business year starting on April 1, down 4 percent from the current year. Idemitsu also said it plans a temporary suspension of some crude refining, with the suspension lasting a total of around 100 days. It said it would decide which ...
MarketWatch First Take: Deconstructing the refining sector (Market Watch)
The problem facing Chevron, and almost everyone else in the world of Big Oil, is that the price of crude oil has been rising faster than they can jack up fuel prices.
Crude Oil Settles Above $81; Weak Supply (TheStreet.com)
Crude oil futures slumped Tuesday, trading in a tight range before settling ahead of weak weekly inventory data.
PetroChina Takes First Steps to Acquire Scotland’s Oil Refinery (Bloomberg)
March 5 (Bloomberg) -- PetroChina Co. , the nation’s biggest energy producer, started taking initial steps in its acquisition of Scotland’s only oil-processing plant that would give the Hong Kong-listed company its first European refining operation.
Nigeria May Push for Higher OPEC Oil Quota, NNPC Says (Update1) (Bloomberg)
March 9 (Bloomberg) -- Nigeria may seek to increase its OPEC oil production quota if output remains free from militant disruption, an official from state-owned Nigeria National Petroleum Corp. said today.
Chevron oil firm to ax 2,000 jobs (Standard-Examiner)
LOS ANGELES -- Chevron Corp. said Tuesday that it would cut 12 percent of its workforce and sell some overseas operations as it retrenches to stem the red ink in its struggling refining, marketing and transportation operations. read more
Richmond not on list of Chevron cuts (San Francisco Chronicle)
Oil giant Chevron Corp. has revealed where it plans to cut its worldwide refining and marketing operations - and Richmond is not on the list. Chevron executives told a gathering of Wall Street analysts Tuesday that the oil company, America's second-largest,... Business - Chevron Corporation - United States - Wall Street - Energy
Oil traders place bets on 'widowmaker' (MalaysiaNews.net)
Some of the boldest speculative oil traders at banks and hedge funds are betting on a return of gasoline’s strength ahead of peak summer demand, bringing about an early shift to summer from winter f...
WRAPUP 1-Idemitsu, Showa Shell to halt CDUs due weak demand (Reuters via Yahoo! Singapore News)
* Idemitsu eyes temporary shutdowns of 3 refineries * Showa Shell to shut 1 CDU from April for two months * Idemitsu, Showa Shell target higher oil exports from April By Osamu Tsukimori and James Topham TOKYO, March 10 - Japanese refiners Idemitsu Kosan Co <5019.T> and Showa Shell Sekiyu KK <5002.T> on Wednesday decided to cut crude oil refining via temporary refinery shutdowns for the first ...
