phillips 66

Why diesel is more expensive in California than the rest of US 

A California retail station with sky-high gasoline and diesel prices

With California about to enact yet another increase in its excise tax on motor fuels, and with fuel prices in the Golden State remaining well above the rest of the country, a driver filling a truck might ask the legendary question posed by Talking Heads: Well, how did I get here?

Here are some numbers to illustrate how the market has changed over time. The data series from the Energy Information Administration on ultra low sulfur diesel prices in California and the rest of the country goes back...

https://www.freightwaves.com/news/why-diesel-is-more-expensive-in-california-than-the-rest-of-us

The Log Book: Phillips 66 employees mark Black History Month

The Log Book is a weekly rundown of human-interest stories related to the transportation industry. This week: Phillips 66 employees mark Black History Month, and Bendix and Amazon support STEM programs in the Midwest. 

Phillips 66 employees hold Black History Month events

Throughout the month of February, multinational energy company Phillips 66’s Black Employee Network chapters are hosting events to honor and reflect on Black history. 

“Phillips 66 values the rich diversity of our employees and...

https://www.freightwaves.com/news/the-log-book-phillips-66-employees-mark-black-history-month

Rockport Terminals acquired by Jones Capital

Houston headquartered Jones Capital has acquired Rockport Terminals, one of the largest private intermodal terminals on the Texas Gulf Coast.

Though strategically located within 28 miles of the Port of Corpus Christi, Rockport Terminals is outside of the port’s tariff zone. With more than 250 acres of industrial land, it offers access to the Intracoastal Waterway, nearby railways, and many major highways.

Today, the terminal specializes in bulk liquids storage, bulk and break bulk, and bulk...

https://www.marinelog.com/coastal/inland/rockport-terminals-acquired-by-jones-capital/

US losing oil refining capacity; renewable diesel to help close gap

The U.S. refining sector, faced with decreased demand for its product, is starting to shrink via the closure of several refineries — actions that had been infrequent in recent years.

The good news for consumers of diesel fuel, however, is that some of the lost capacity will be replaced by continued investments in the production of renewable diesel, a one-for-one substitute for conventional diesel that has the backing of a variety of tax incentives.

The question facing the trucking and transport...

https://s29755.pcdn.co/news/us-losing-oil-refining-capacity-renewable-diesel-to-help-close-gap

Phillips 66 To Ship Record $14 Million US Crude To South Korea

According to a Reuters report, Phillips 66 tentatively chartered a supertanker to ship U.S. crude from the U.S. Gulf Coast to South Korea for a record $14 million this week, sources said Thursday, as tanker rates continued to soar after U.S. sanctions on units of Chinese giant COSCO.

What is it?

Phillips 66 provisionally chartered the Very Large Crude Carrier (VLCC) Olympic Laurel for $14 million and is expected to load in mid-November, according to Refinitiv Eikon data.

The company did not...

http://mfame.guru/phillips-66-to-ship-record-14-million-us-crude-to-south-korea/

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