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...The stock had risen 27 per cent over the past five years to Tuesday, compared with a 64 per cent rise in the S&P 500 oil refining and marketing index over the same period....
...That’s really problematic for the rest of us,” said John Duncan, co-lead for the Business Coalition for a Global Plastics Treaty, a group of more than 200 companies including Walmart, PepsiCo, and L’Oréal...
...The disclosures relate to its oil production and refining operations there, where the company can trace its history back more than 140 years....
...Under-investment is not just a feature of production and mining but can also occur in refining....
...Morgan Stanley has boardroom links to the oil and gas industry too; director Rayford Wilkins Jr is a sitting board member of Texas-based oil refining company Valero Energy....
...executive of large refining company Valero Energy, said in an earnings call last month....
...However, investors scored a win at Valero Energy, a fuel refining and retail company, which agreed to make pay changes based on climate without a shareholder vote....
...But Lukasz Bednarski, lithium analyst at S&P Global Commodity Insights, says the US’s refining capacity could be woefully short....
...The S&P Refining & Marketing index is up nearly 50 per cent this year, even as the broader market has fallen....
...Mike Wirth, Chevron’s chief executive, touted the company’s rising oil and gas production from the Permian shale oil and gasfields in Texas and New Mexico, and new investments in low-carbon biofuels....
...West Texas Intermediate crude settled at $90 a barrel on Wednesday....
...Woods touted the company’s production growth in the Permian Basin shale oil and gasfields in Texas and New Mexico, which he said is up 130,000 barrels of oil equivalent a day compared to the first half of...
...Lithium refining — a complex chemical process — is a far cry from the carmaker’s core expertise of designing vehicles, and relies on the company being able to secure a type of lithium ore known as “spodumene...
...Valero Energy, a Texas-based refining company which imports heavily from Russia, has reportedly suspended all future purchases of Russian oil....
...and marketing at S&P Global Commodity Insights....
...“Supply chain may be something where Barry needs support, but the fiscal side of things, what does the P&L actually look like? Barry is as good as they come.”...
...You had governments literally shut down their economies globally,” Garland said at the company’s headquarters in Houston last week. Garland said that refining companies were still under pressure....
...But companies also want Alberta’s provincial government to help out....
...The storm that swept through the Gulf of Mexico in late August initially took about 95 per cent of the region’s oil production and refining offline....
...Others, including the Saudi-owned Motiva plant in Port Arthur, Texas, have throttled back fuel production. All told, up to 500,000 b/d has been cut from gulf refining runs, said market sources....
...Some refiners, including New York-listed Valero, were seeking to park fuels on vessels, said S&P Global Platts. Valero did not respond to a request for comment....
...Refineries in Lake Charles owned by Phillips 66 and Citgo Petroleum were halted, as were others in Texas owned by Motiva Enterprises, ExxonMobil, Valero Energy, Total and Chevron, S&P said....
...“Refining and chemicals is an industry that they had not fully exploited.”...
...Refineries with a total capacity of 2.2m barrels per day of oil were closing plants or reducing volumes in advance of the storm, according to S&P Global Platts Analytics — about a quarter of the refining...
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