Chevron Products Co. plans to distribute a series of “Energy for Learning” grants totaling $1 million among 15 South Bay schools, signifying the largest science, technology, engineering and math (STEM)-related donation ever made by Chevron’s El Segundo Refinery in support of local educational programs. As part of the announcement activities, and in recognition of Mathematics…
Gulf Oil Enters Maryland
Gulf Oil has signaled its branded return to Maryland, by announcing a branded distributor partnership with Bedford Valley Petroleum, which plans to rebrand nine retail motor fuel outlets in Pennsylvania and Maryland to the new Gulf “Sunrise” image. “We are excited to be able to bring the Gulf family to Maryland and build upon its…
Chevron To Layoff Workers
Chevron Corp. is shrinking its staff from its crude-oil refining and marketing segments by more than 20% as fuel demand remains low, The Wall Street Journal reported. Some 2,000 workers were laid off in 2009, and an equal number of layoffs are ahead this year and more are expected to continue in 2011. In 2008,…
BP Looks To Future Goals
BP has outlined plans to further boost efficiency and reduce costs as it plans to improve its annual underlying pre-tax profitability by more than $3 billion over the next two to three years, the company announced in a press release. In addition, the company has extended its medium-term oil and gas production outlook, projecting that…
Retail Gasoline Prices Moving Sharply Higher
Brian L. Milne, Refined Fuels Editor, Telvent DTN A recent government report showed inflationary pressure coming from higher gasoline prices in January, highlighting the impact of last month’s early surge in prices at the pump. Retail gasoline prices fell from early January highs, and inflation is not a near-term threat. In fact, the Consumer Price…
Energy Efficiency Pays Off
Savvy convenience store chains are leading the charge toward more energy efficient store equipment that both respects the environment and lowers operating costs, using everything from LED lighting and state-of-the-art cooler doors to Leadership in Energy and Environmental Design (LEED) buildings and clean fleet initiatives to do so. One stellar example of this trend comes…
U.S. Gasoline Prices Fall
The average price of regular gasoline at U.S. filling stations declined to $2.67 a gallon as gasoline futures plunged and demand weakened, Bloomberg reported. Gasoline lost 5.8 cents in the two weeks ended Feb. 5, according to a survey ending on the same day of 5,000 filling stations nationwide by Trilby Lundberg, an independent gasoline…
Alon Named Stalking Horse Bidder for Bakersfield Refinery
Dallas-based Alon USA Energy Inc. has been selected as the stalking horse bidder for the Bakersfield, Calif., refinery from Big West of California LLC, a subsidiary of Flying J Inc. Completion of the acquisition is subject to an auction process, bankruptcy court approval and customary regulatory approval. The Bakersfield refinery is located in…
Valero Reports Fourth Quarter, Annual Results
Valero Energy Corporation has reported a fourth quarter loss from continuing operations of $182 million, or $0.32 per share, excluding special items, of $155 million, or $0.28 per share. This compared to a fourth quarter 2008 loss from continuing operations of $3.2 billion, or $6.22 per share, excluding special items, of $795 million, or $1.53…
Valero Rises to the Top
At a Glance: Valero Energy Corp. Valero operates 16 refineries and seven ethanol plants stretching from California to Canada to the Caribbean. The San Antonio-based operator generated more than $119 billion in revenues in 2008 with total assets of $34.3 billion. Other company highlights include: •Number of Employees: Approximately 22,000 •Refining Throughput Capacity: 3.1 million…