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.
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.