EnergyWire headlines —

SPOTLIGHT

1. MARKETS:

Booming fuel exports bring profits back to refining

HOUSTON -- Strong exports of gasoline, diesel and other fuels are transforming the economics of the refining industry, at least for the time being. Last year, oil and gas major ConocoPhillips Co. rid itself of its refining operations, spinning off its entire downstream business segment to form the new Phillips 66 company. When that decision was made, the reasoning behind it was sound -- oil and gas exploration and production were booming, but refineries were struggling with managing tight profit margins in the face of flat-lining U.S. demand for refined products. Back then, refining was seen as a tough business model -- refineries were squeezed between rising prices for their feedstock crude oil, a fact they couldn't control, and trying to pull a profit by selling finished products into a U.S. market that had all it needed, while actually cutting back on consumption. But the tables are turning lately, thanks almost entirely to booming exports.

THIS MORNING'S STORIES

E&ETV'S ONPOINT

E&E eBooks

Turning Carolina Red

Compiled coverage by issue

Drought
Nuclear Crisis
Gulf Spill
Global Climate Debate
EPA vs Climate Change

E&E special reports

Deep Underground
Danger Zone
Islands
Shades of Green: A Movement at Midlife
Overflow

E&E Services

Learn More About E&E
Start a Trial
Receive Email Alerts
Staff Directory
Employment Opportunities
Announcements

Latest Selected Headlines

More headlines&nbspMore headlines

More headlines&nbspMore headlines

More headlines&nbspMore headlines

More headlines&nbspMore headlines

Latest E&ETV Videos