January 23, 2014 |
Delta Air Lines said Tuesday that its Trainer oil refinery in Delaware County would have a "small loss" in the current first quarter, after posting a loss of $46 million in the three months ended Dec. 31 and a $116 million loss for 2013. Delta executives said on a conference call that the 180,000-barrel-a-day refinery, operated by subsidiary Monroe Energy L.L.C., would "see a modest profit" for 2014, said chief financial officer Paul Jacobson. "We expect to see only a modest loss for the Trainer refinery in the March quarter, despite the pull-down of one of the main units for modifications," Jacobson told investors.
January 23, 2014 |
The Monday derailment of a freight train carrying crude oil to the Philadelphia Energy Solutions (PES) refinery has triggered a new round of alarm over petroleum shipments by rail, but has not affected operations at the South Philadelphia refinery. CSX Corp. crews began transferring oil and sand Tuesday from seven cars that derailed on a bridge spanning the Schuylkill in Grays Ferry. The cars were at the end of a 101-car train traveling from Chicago to Philadelphia, carrying crude oil from North Dakota.
January 9, 2014 |
PAULSBORO State and local officials monitoring a malfunction at a petroleum refinery near Paulsboro said no hazardous materials were released with the columns of smoke that rose Tuesday. But authorities said the cold weather could cause a problem. Paulsboro Fire Chief Alfonso G. Giampola said a power outage at the refinery shut down the steam at an ExxonMobil lubrication plant in Paulsboro. "We're concerned about the sprinkler system freezing," Giampola said. Schools were briefly ordered to shelter in place Tuesday afternoon, Giampola said.
December 13, 2013 |
Delta Air Lines, which bought the former ConocoPhillips refinery in Trainer, Delaware County, to secure a steady source of discounted jet fuel, said Wednesday the refinery lost $100,000 in 2013, but is expected to be profitable next year. Although some analysts had expressed skepticism about an airline diversifying into oil refining, a capital-intensive business with low margins, Delta president Edward Bastian told investors Wednesday: "Let me be very clear. Trainer has been a great success for Delta.
December 6, 2013 |
Nothing unusual about the banquet menu lined up for Saturday evening's steelworkers union awards dinner - boneless breast of chicken, linguine Alfredo for the vegetarians. But two honorees at the event at a South Philadelphia union hall will be anything but typical. The United Steelworkers Local 10-1 will honor two high-ranking management executives with "Solidarity and Appreciation Awards. " "It's rare," said Philip Rinaldi, chief executive of Philadelphia Energy Solutions and one of the two management honorees.
October 24, 2013 |
Delta Air Lines said Tuesday its refinery in Trainer, Delaware County, posted a $3 million profit for the three months ended Sept. 30. It was the first quarterly profit since Delta bought the former ConocoPhillips refinery last year to supply itself with jet fuel. "We have a tremendous opportunity with the Trainer refinery," Delta CEO Richard Anderson told investors on a conference call discussing third-quarter financial results. "Importantly, the refinery's production has proven to be effective in keeping jet cracks in check, particularly in the New York harbor.
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.