Governor Sean Parnell of Alaska has suggested that a series of incentives are needed to encourage refineries to produce and sell more refined products in the state. The incentives suggestion has been inspired by Flint Hills Resources announcement earlier this year that it is looking to shutter its North Pole refinery.
US motorists are now reportedly paying over US$ 4 /gal. of gasoline in California and the price is apparently set to rise throughout the summer. This is the first time since September that gasoline prices in the state have hit the US$ 4 mark and are expected to increase by 10 – 15 cents more over the warmer months.
Par Petroleum has announced losses of US$ 42 million in the fourth quarter of last year after acquiring the largest refinery in Hawaii from Tesoro Corp in 2013. The company made a total of US$ 71 million in 2013 and are mainly attributing it to the transition of the Hawaii Independent Energy refinery.
Following the spill last week at a BP owned refinery in to Lake Michigan, the Coast Guard has confirmed that no more oil was found during the latest search in Indiana. The US EPA has also reported that during a recent search of the lake near the BP Whiting refinery it found no visible oil on the shore line or in the water.
State environmental regulators are likely to approve the proposed changes to the operational plans for a refinery that is going to be built near Green River in Emery County. The refinery is going to be built by Rock River Resources of Houston, Texas at a cost of US$ 230 million. Once complete, the refinery is expected to have a processing capacity of 28 000 bpd.
Edited from various sources by Claira Lloyd
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