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Refinery

BUSINESS
January 23, 2014 | By Linda Loyd, Inquirer Staff Writer
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.
NEWS
January 9, 2014 | By Jonathan Lai and Andrew Seidman, Inquirer Staff Writers
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.
BUSINESS
December 13, 2013 | By Linda Loyd, Inquirer Staff Writer
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.
NEWS
December 6, 2013 | By Jane M. Von Bergen, Inquirer Staff Writer
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.
BUSINESS
October 24, 2013 | By Linda Loyd, Inquirer Staff Writer
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.
BUSINESS
October 4, 2013 | By Linda Loyd, Inquirer Staff Writer
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.
NEWS
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.
BUSINESS
May 11, 2013 | By Andrew Maykuth, Inquirer Staff Writer
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.
BUSINESS
May 9, 2013 | By Andrew Maykuth, Inquirer Staff Writer
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.
BUSINESS
March 6, 2013 | By Linda Loyd, Inquirer Staff Writer
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.
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