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BUSINESS
March 1, 2013 | By Linda Loyd, INQUIRER STAFF WRITER
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.
BUSINESS
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.
BUSINESS
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.
BUSINESS
January 24, 2013 | By Mike Armstrong, Inquirer Columnist
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.
BUSINESS
January 24, 2013 | By Linda Loyd, Inquirer Staff Writer
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.
BUSINESS
January 23, 2013
Phillips 66 Co. has agreed to pay a $50,000 penalty to settle alleged violations of hazardous waste regulations at its former refinery in Trainer, the U.S. Environmental Protection Agency announced Tuesday. EPA cited Phillips 66 for violations involving the storage of hazardous materials including refinery hydrocarbon waste, chromium waste, heavy metal waste from batteries and mercury waste from fluorescent bulbs. Phillips 66 Co. is the successor to ConocoPhillips Corp., which owned the refinery until it was sold last year to Monroe Energy, a subsidiary of Delta Air Lines.
BUSINESS
December 14, 2012 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines, which now owns the refinery in Trainer, says Hurricane Sandy delayed the start of its new operation there. Instead of generating a modest profit in the first quarter, the plant will have a $50 million to $60 million loss. The good news: The pipelines are back online, and the distribution outlets "are in check," president Edward Bastian told analysts at Delta's investor day in New York on Wednesday. Production scheduled for 2013 at Delta subsidiary Monroe Energy L.L.C.
BUSINESS
December 5, 2012 | By Joseph N. DiStefano, Inquirer Staff Writer
Sunoco Inc. has finished its long liquidation. But the Philadelphia area could soon be the production center for another publicly traded, multibillion-dollar oil refiner. PBF Energy , the Parsippany, N.J.-based company that bought the former Valero refineries in Paulsboro and Delaware City and the original Sunoco refinery in Toledo, amid the recession, has updated an earlier proposal to sell shares in an initial public stock offering (IPO), possibly by the end of this year.
BUSINESS
October 26, 2012 | By Linda Loyd, Inquirer Staff Writer
US Airways Group Inc. and Delta Air Lines posted higher quarterly profits Wednesday and said the revenue environment ahead looks fairly good. US Airways, which is in talks with bankrupt American Airlines about a potential merger, said third-quarter profit more than doubled to $192 million, or 98 cents a share, from $95 million, or 51 cents a share, a year earlier. That beat analysts' average estimates of 92 cents. "That's our second-best third-quarter profit in company history," US Airways chief executive Doug Parker said during a call with investors.
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