Sapphire Energy and refiner Phillips 66 – comprised of ConocoPhillips’ former refining assets – have announced a joint development agreement to commercialize Sapphire’s Green Crude, an algae-based crude oil. The two companies will expand Sapphire’s ongoing testing program to ensure that Green Crude can be processed in traditional refineries and meet Environmental Protection Agency standards under the… Keep reading →
Deutsche Bank changed its recommendation on shares of Cabot Oil & Gas – a major Marcellus and Eagle Ford Shale operator – causing that stock to move in today’s trading session. The investment bank is also optimistic on the US refining sector – putting a buy rating on Phillips 66 – formerly ConocoPhillip’s refining division.… Keep reading →
Gasoline prices expected to increase more than diesel prices next week? Then crank up gasoline production! It may sound simple, but sophisticated software, communications and refining equipment all work in harmony to maximize profits on the fly in the highly-competitive US refining industry. Refinery control room operators in New Jersey work closely with commercial traders… Keep reading →
In case you missed them, here are some highlights from Breaking Energy this week. Breaking Energy’s own intrepid editor, Jared Anderson, discovered that operators of the Phillips 66 Bayway Refinery prefer Bakken to bacon (see incontrovertible proof above). The US Department of Energy finally gave the green light for non-FTA exports to a second plant… Keep reading →
A plan by Delta Air Lines to buy a Pennsylvania refinery and save itself $300 million a year in jet fuel costs is an audacious move that may prompt its competitors to follow suit in a bid to control their biggest single expense, analysts said.
But the airline may also face bigger bills than it expects for restarting the currently idle plant and more than doubling its previous output of jet fuel. Keep reading →
