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U.S.

Update: Valero to shut Benicia refinery due to tough regulatory environment, high costs

Valero Energy on Thursday said it would cease operations at its 170,000-bpd San Francisco-area oil refinery next year amid worries about California's declining fuel supplies and high gasoline prices.

Update: U.S. refiner Valero's Mexico fuel import license reinstated

Valero Energy Corp's license to import fuel into Mexico was reinstated following a suspension in early April, Chief Operating Officer Gary Simmons told analysts on the U.S. refiner's first-quarter earnings conference call.

U.S. refiner Phillips 66 posts bigger-than-expected quarterly loss on lower margins

Phillips 66 has reported a bigger-than-expected loss for the first quarter, hurt by lower refining margins amid widespread maintenance and turnaround activities across the U.S. refining sector.

California (U.S.) governor drives out refiners then pleads for reliable fuel supplies

California (U.S.) Governor Gavin Newsom has directed state officials to step up efforts to guarantee reliable fuel supplies for the nation's biggest auto market, prompting oil companies to blame state policies for difficult business conditions and high pump prices.

EIA: Distillate and jet fuel contribute to record U.S. petroleum product exports in 2024

In 2024, U.S. exports of total petroleum products increased to a record 6.6 MMbpd annual average, according to the U.S. Energy Information Administration (EIA). Annual U.S. petroleum product exports increased by 495,000 bpd as U.S. exports of distillate fuel oil—typically sold as diesel—and jet fuel increased compared with 2023, while exports of total motor gasoline decreased.

China-U.S. trade war redrawing global LPG trading, outlook

The global liquefied petroleum gas (LPG) market is facing an upheaval as high tariffs on U.S. imports force Chinese buyers to swap American cargoes for alternatives from the Middle East, while U.S. shipments divert to Europe and elsewhere in Asia.

Phillips 66 fires back at Elliott over Citgo conflict of interest amid board fight

Phillips 66 is arguing that Elliott Investment Management should back down from its push to break up the energy company because the activist investor is conflicted from a separate effort to acquire one of Phillips 66's rivals.

More than 100 employees leave U.S. EIA, putting crucial energy data at risk

The U.S. government's energy statistics arm is set to lose > 100 employees after the Trump administration's latest round of resignation offers, putting at risk some of the most closely watched energy reports globally.

India eyes ending import tax on U.S. ethane and LPG in trade talks

India plans to end taxes on U.S. ethane and liquefied petroleum gas (LPG) imports under broader negotiations with Washington as it looks to reduce its trade surplus and ease its tariff burden.

Valero books $1.1-B impairment, may idle California refinery

Valero Energy Corp. said on Wednesday it was taking a $1.1-B pre-tax impairment related to its California (U.S.) refineries and told state regulators it would permanently shut or restructure its San Francisco-area refinery in Benicia, California by the end of April 2026.