The U.S. energy revolution continues to reshape America’s energy outlook for the better. Thanks largely to shale energy reserves and advanced hydraulic fracturing and horizontal drilling, the U.S. Energy Information Administration’s 2014 Annual Energy Outlook estimates domestic oil production will approach 9.6 million barrels per day by 2016 – a level of output not seen since 1970.… Keep reading →
A fire at the Motiva refinery – the largest in the US – took more than half its capacity offline for at least two weeks. “The fires come on top of a nagging vibration problem with a key pipe in the plant’s biggest crude distillation unit, or CDU, that is expected to keep it running… 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 →
While gas prices soar to record levels, many U.S. refineries that make and sell gasoline are going broke. Nearly 50% of the refining capacity on the East Coast has either shut down or may shut down within the next few months. If gas shortages develop due to the closed refineries, East Coast drivers could face higher prices than they otherwise would later this year. Sunoco , which closed its Philadelphia-area Marcus Hook refinery in December and is trying to sell another facility nearby, said its refining businesses has been losing $1 million dollars a day for three years running.
