PBF Energy Inc. (NYSE: PBF) announced that it will purchase the damaged ExxonMobil Torrance refinery and related assets for $537.5 million. The transaction is expected to close in the second quarter of 2016, after repairs are completed. The 750-acre refinery … Continue reading
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California legislators went into recess with many of the most controversial and ambitious proposed climate change measures withdrawn or delayed. Pulled from Senate Bill 350 before it passed was its target of a 50% reduction in petroleum use by cars … Continue reading
Federal regulators have issued warnings to Plains All American Pipeline Co. for “probable violations” related to the rupture in May of an oil pipeline on the Santa Barbara coast that spilled up to 3,400 barrels of crude. Officials with the … Continue reading
A report released by the Western States Petroleum Association details the substantial contribution the petroleum industry makes to California’s state and local economies, accounting for nearly 456,000 jobs, hundreds of billions in revenues, and more than 9% of the state’s … Continue reading
Chevron Corporation (NYSE: CVX) reported earnings of $571 million, or 30 cents per share, for the second quarter of 2015 on revenues of $37 billion. This compares with earnings of $5.7 billion, or $2.98 per share on revenues of $56 … Continue reading
The board of directors of Chevron Corporation (NYSE: CVX) declared a quarterly dividend of $1.07 per share, payable September 10, 2015, to holders of the San Ramon-based company’s common stock as of August 19, 2015. In May Chevron reported earnings … Continue reading