October 18, 2014 |
Delta Air Lines said Thursday that its Trainer oil refinery in Delaware County produced a $19 million profit in the third quarter, and is expected to have a $20 million profit in the current fourth quarter. Delta, the first U.S. airline to report earnings, had Thanksgiving revenues up by 8 percent, and Christmas and New Year's bookings "look solid," company president Edward Bastian reported on a conference call. Management said it has seen no change in booking trends due to the Ebola outbreak in West Africa.
July 25, 2014 |
Delta Air Lines said Wednesday that its Trainer oil refinery in Delaware County produced a $13 million profit in the second quarter. Delta, the first U.S. airline to report earnings, posted a second-quarter profit of $889 million, or $1.04 a share, that beat analysts' estimates, driven by strong passenger demand and higher revenue from corporate contracts. Revenue rose 9.4 percent to $10.6 billion. "We will post even better results in the third quarter, with a forecast operating margin of 15 percent to 17 percent," Delta chief executive officer Richard Anderson said on a conference call.
July 22, 2014 |
Delta Air Lines' subsidiary Monroe Energy L.L.C. has signed a five-year agreement with a Texas-based company, Bridger L.L.C., to receive 65,000 barrels of domestic crude a day at its oil refinery in Trainer, Delaware County. The contract will supply about one-third of the crude refined daily at the former ConocoPhillips refinery, which Delta bought in 2012. The Trainer refinery supplies Delta's Northeast operations with jet fuel, the largest and most volatile expense for airlines.
May 27, 2014 |
Marie Horn's front porch offers a panoramic view of the Delaware River and riverfront park in Marcus Hook. Her back deck overlooks a different scene: empty lots, with curb cuts and street lights prepared for 11 more houses. The land has long sat vacant, as a nonprofit group struggles to find interested builders or buyers to complete a neighborhood of brightly colored colonials along the river, bookended by a refinery and a former refinery property. Horn's house is just one of three built in the last few years.
January 26, 2014 |
WEST DEPTFORD A West Deptford oil refinery intertwined with local politics will bid goodbye to one of its main edifices early Saturday. That's when Sunoco Logistics will implode the Eagle Point refinery's 65-year-old "fractionator" - the heaviest refining unit at the site, towering an estimated 200 feet. The "controlled implosion" will last about two minutes and also demolish a tower and chimney, West Deptford officials said. A rusty-looking dome, the fractionator - referred to in the industry as a "cat cracker," and used to convert crude oil into other fuels - was built in 1949, according to Sunoco.
September 30, 2013 |
On a brisk and sunny January day, in front of an oil refinery's circular white storage tanks, at the intersection of two of South Jersey's busiest roadways, Steve Sweeney embarked on a political odyssey unlike anything the state had ever seen. His goal, he told reporters gathered for his news conference, was to use his powers as the state Senate president to make sure the large refinery behind him finally got cleaned of contamination. But Sweeney wasn't just standing at a rundown refinery as New Jersey's highest elected Democrat, whose on-again, off-again relationship with Republican Gov. Christie affected statewide policy.
May 19, 2013
The Underlying Logic of the Office By Ray Fisman and Tim Sullivan Twelve. 320 pp. $26.99 Reviewed by Jane Von Bergen Delta Air Lines president Edward H. Bastian had good news for analysts gathered for a recent industry conference sponsored by JPMorgan. The airline, he told them, had a profitable quarter, the first in a decade. Why? In part because of savings from an oil refinery in Delaware County it bought from Conoco Phillips in 2012. An oil refinery? What's an airline doing running an oil refinery?
March 6, 2013 |
Shares of Delta Air Lines rose 5 percent after the carrier said Monday that it expected a second-quarter profit of $75 million to $100 million at its oil refinery in Trainer. Delta also said the current quarter would be the airline's first profitable March quarter since 2000. "Running an oil refinery, much like running an airline, is not for the faint of heart," Delta president Edward Bastian told a JPMorgan conference. He said operational issues kept the refinery at 75 percent capacity in January and February.
March 1, 2013 |
The oil refinery in Trainer owned by Delta Air Lines received its first shipment of Bakken crude oil from North Dakota on Feb. 12. The test shipment traveled in more than 100 rail cars to Albany, N.Y., where it was moved to a ship, and transported to Delta's docks in Trainer. "We are still evaluating our crude sourcing options. We don't currently have a facility to off-load from rail at Trainer," Delta spokesman Trebor Banstetter said. "If we decide to go ahead fully into the Bakken to get our crude, then we would invest in some rail facilities there, and it would come by rail all the way to the refinery.
January 12, 2013 |
U.S. Secretary of Agriculture Tom Vilsack is scheduled to visit King of Prussia on Friday for the opening of a new industrial-sugars production facility and to announce $7 million in funding for biofuels research at the U.S. Department of Agriculture's Eastern Regional Research Center in Wyndmoor. The new unit at Renmatix Inc. is designed to convert materials such as wood, agricultural residue, some types of grass, and other waste materials that do not compete with the food supply into sugars that can be further processed into industrial chemicals.