October 4, 2013 |
As 120 rail cars loaded with 80,000 barrels of sweet crude from North Dakota pulled with a clang into the South Philadelphia high-speed oil-train unloading yard, thunderous applause erupted from many of the 1,000 workers at the former Sunoco Inc. refinery. "Last year, we all thought we were going to get laid off and shut down," recalled Bob Partridge, who runs the warehouse for Philadelphia Energy Solutions L.L.C., operator of the former refinery. "Here we are and we are all working.
September 27, 2013
The Inquirer on Thursday misidentified ExxonMobil Chemical president Stephen D. Pryor as the chief executive of the South Philadelphia refinery. The refinery is headed by Philip Rinaldi, chief executive officer of Philadelphia Energy Solutions.
May 11, 2013 |
Now that Sunoco Logistics Partners L.P. has taken ownership of the closed Marcus Hook refinery, the pipeline company has big plans for the Delaware River industrial site. Sunoco Logistics chief executive Michael J. Hennigan provided analysts with details Thursday about how the pipeline and terminal company plans to repurpose the refinery as a hub for shipping liquid fuels produced from natural-gas drilling in the Marcellus and Utica Shales. "We plan to create a world-class natural-gas liquids hub on the East Coast," Hennigan said.
May 9, 2013 |
Sunoco Logistics Partners L.P., the energy pipelines and terminal operator, has acquired the former Sunoco refinery in Marcus Hook for $60 million and plans to develop it into "world class" hub for shipping natural gas liquids from the Marcellus and Utica Shale formations. The acquisition, announced with the company's first quarter earnings on Wednesday, "demonstrates Sunoco Logistics' continued commitment to pursue opportunistic growth in natural gas liquids," said Michael J. Hennigan, president and chief executive officer.
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.
February 5, 2013
PBF Energy Inc. said it expects to receive its first train delivery this week of North Dakota light crude oil at its Delaware City Refinery, and also announced that it will double the amount of heavy Canadian oil-sands crude it can receive by rail by the end of this year. The refinery can now receive 70,000 barrels of light crude a day and 40,000 barrels of heavy crude. The heavy crude capacity will double to 80,000 under a $50 million plan to expand the unloading facility. PBF is also securing an additional 2,500 rail cars through 2015 to transport the crude oil. PBF and other East Coast refiners are scrambling to incorporate lower-cost domestic crudes from new discoveries into their mix to reduce their production costs, which typically have been higher because of their reliance on expensive imported petroleum.
January 29, 2013
In the Region Glaxo to team up for vaccine in India GlaxoSmithKline P.L.C. agreed to form a joint venture in India to produce a six-in-one vaccine to immunize children in developing countries against infectious diseases. The London-based drugmaker, which has significant operations in the Philadelphia area, has agreed to form a 50-50 venture with India's Biological E Ltd. to develop a product that would combine Glaxo's injectable polio shot with a vaccine produced by Biological E that protects against five diseases, including diphtheria and tetanus.
January 24, 2013 |
Few bosses of big companies win many popularity contests. Even fewer do when they break up the companies and sell off the parts. Still, it was striking that months after Sunoco Inc.'s Philadelphia refinery was saved from closure, the former CEO of the energy company could inspire such animosity from a panel of insiders who'd gathered to recount how the rescue was accomplished. The occasion was a Friday symposium organized by the Temple University Center on Regional Politics. At a panel discussion on how political, business, and labor leaders cooperated to help find buyers for two of the three threatened refineries, U.S. Rep. Bob Brady, a Philadelphia Democrat, voiced publicly what others had said privately.
January 24, 2013 |
The oil refinery in Trainer, now owned by Delta Air Lines, had a $63 million loss in November and December caused by Hurricane Sandy. Delta, which kicked off airlines' fourth-quarter earnings reports Tuesday, said Sandy damaged regional pipelines and terminals in the area and slowed distribution of products. "This, in turn, forced Trainer to slow production and lower efficiency," said Delta's chief financial officer, Paul Jacobson. "However, refinery operations are recovering, and we expect Trainer to realize a modest profit in the March quarter.