April 24, 2012 |
The U.S. Congress Joint Economic Committee announced Tuesday that its hearing this week on refinery closures will be webcast on the committee's website: www.jec.senate.gov . The hearing, which will be chaired by U.S. Sen. Robert Casey (D., Pa.), will focus on the impact that the closing of refineries serving the Northeast will have on fuel markets. Three refineries in Philadelphia are idled or threatened with closure and a fourth refinery in the Virgin Islands also shut down earlier this year.
December 22, 2011
Gasoline prices may rise above $4 next summer if three Philadelphia area refineries close, reducing capacity, said Edward Morse, New York-based head of commodities research at Citigroup. Sunoco Inc. and ConocoPhillips have idled two plants in Marcus Hook and Trainer, and Sunoco plans to shut the Philadelphia refinery by July if a buyer isn't found. Together, the plants account for about half of U.S. East Coast refining. "One of the things that's lurking in the marketplace is the consequence of this shutting in of about 700,000 barrels a day of East Coast refineries," Morse said in a Bloomberg TV interview.
July 4, 2012 |
Sunoco Inc.'s Philadelphia refinery, which was threatened with closure at the end of this month, will be reborn as an "energy hub. " The Carlyle Group, a Washington private-equity manager, announced plans Monday to operate the refinery with Sunoco as a joint venture called Philadelphia Energy Solutions. The venture will save 850 jobs at the refinery, the largest fuel-production plant in the northeastern United States, and may employ hundreds more if plans to expand production are realized.
April 18, 2012 |
A Delta Air Lines bid to buy the idled ConocoPhillips refinery in Trainer to satisfy its enormous thirst for jet fuel appears to be gaining momentum, industry observers say. According to reports, the Delta board of directors has endorsed a plan to bid on the refinery, one of three Philadelphia fuel-processing facilities that face closure because of poor profits. Two others are owned by Sunoco Inc. of Philadelphia, which is exiting the refining business this year altogether. Prospective buyers face a May 2 deadline for a second round of bidding on the 185,000-barrel-a-day ConocoPhillips refinery, Tom Kloza, publisher of Oil Price Information Service, reported Monday.
March 12, 2009 |
Ten Sunoco contractors were taken to hospitals for evaluation yesterday after acid vapor escaped at the oil company's South Philadelphia refinery. Seven went to Methodist Hospital in South Philadelphia; the others were taken to the Hospital of the University of Pennsylvania, police said. None of the injuries were life-threatening, police said. Thomas Golembeski, spokesman for Sunoco, said the contractors were being evaluated for possible vapor exposure. The release of hydrofluoric acid occurred about 10:30 a.m., he said.
October 5, 1994 |
Parts of the Coastal Eagle Point Oil Co. plant were temporarily shut down for maintenance Friday, but all 370 of the refinery's employees will continue working throughout the shutdown period, a Coastal official said yesterday. Steve Eames, a spokesman for the Houston-based Coastal Corp., said the plant's crude unit and fluid catalytic cracking unit, both used in the oil refining process, were closed for modifications that will improve the plant's efficiency and processing rates.
July 3, 1992 |
You think only corporate executives get stock deals? In an unusual - possibly unique - provision of their collective bargaining agreement, Sun Co. employees represented by Oil, Chemical and Atomic Workers (OCAW) Local 990 in Philadelphia will receive 100 shares of restricted company stock. That's on top of a 9.5 percent wage increase. The contract affects 294 workers at Sun's 130,000-barrel-a-day refinery in the city. Sun acquired the refinery in 1988 as part of its purchase of Atlantic Petroleum Corp.
May 22, 1992 |
A four-alarm fire at a former grain shipping site along the riverfront sent embers flying toward an oil refinery late last night. The smoky and smelly fire was brought under control at 1 a.m. this morning. No injuries were reported. Firefighters arriving shortly before midnight reported that the silos and other structures on the property, along with some abandoned vehicles, were in flames. Thick, dark smoke billowed from the site. The blaze began in a pile of used tires, but the cause could not be immediately determined, fire offcials said.