Hints and tips:
...Following a months-long campaign by the hedge fund, the Texas-based utility and power producer parted ways with its chief executive and agreed to overhaul its board....
...executive of large refining company Valero Energy, said in an earnings call last month....
...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....
...“As long as inventories remain low, you would expect that to translate into a very strong refining margin environment,” said Joseph Gorder, chief executive of refiner Valero, referring to the profit margins...
...Valero Energy, a Texas-based refining company which imports heavily from Russia, has reportedly suspended all future purchases of Russian oil....
...“There was a significant increase in mobility in the second quarter, driving higher demand for refined products, particularly in the US,” Joseph Gorder, chief executive of Texas-based Valero, the biggest...
...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....
...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....
...to 675m gallons a year and is exploring construction of a new plant in Port Arthur, Texas....
...New Mexico has now replaced North Dakota as the second-biggest oil-producing state behind Texas....
...Exxon and Valero did not respond to requests for comment....
...Total refining capacity in Texas is 5.6m barrels a day, 31 per cent of total US refining capacity. It also produces 36 per cent of US crude....
...The US has faced a growing fuel crunch since Harvey knocked out almost a quarter of all US refining capacity as it churned across Texas and into Louisiana....
...However, the White House decided against embargoing Venezuela’s oil exports, much of which are shipped for refining in Houston....
...Companies including Valero Energy, ExxonMobil, Citgo and Flint Hills said they were working to restart some of their refineries, starting at the further western end of the Texas coast around Corpus Christi...
...Oil and gas companies ConocoPhillips and Hess, alongside refining company Valero Energy, were among the best performing energy stocks by close of trading....
...As reports of the putative change emerged on Tuesday morning, shares in CVR rose about 4 per cent, while Valero Energy, another refining company that has also argued for the rule change, rose about 3 per...
...Aramco may also say more about opportunities for expansion in the US by Motiva, its refining subsidiary....
...The agency faces a test of its position after being sued in a Texas federal court last week by Valero Energy, the world’s biggest independent oil refiner, over the issue....
...The S&P 500 energy sector rallied 1.1 per cent as West Texas Intermediate, the US crude marker, rose 0.8 per cent to $43.91 a barrel....
...“Imports are certainly offsetting any declines that we’ve had in domestic crude,” Joseph Gorder, chief executive of Valero, the largest US refining company, told a conference in New York this month....
...A spokesman for Valero, which owns seven refineries in Texas and Louisiana, said: “Valero continues to support the Keystone XL pipeline and we are hopeful it will be approved soon....
...For example Valero, the largest US refining company, plans to add crude units in Houston and Corpus Christi, Texas designed to process oil from the nearby Eagle Ford shale....
...Trafigura, one of the world’s largest commodities traders, plans to sell a controlling stake in docks, tanks and other assets around a booming Texas oil port as uncertainty looms over sales of US petroleum...
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