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Laila Kearney

Bankrupt Philadelphia refinery expects $50 million advanced insurance payment

Sep 13 2019

Insurers of a fire-damaged Philadelphia refinery have indicated they would make a $50 million initial advance payment in connection with a June blaze that led to the plant’s closure, court documents showed.

Oil prices fall 1% on U.S.-China trade doubts, OPEC+ talks

Sep 12 2019

NEW YORK Oil prices fell about 1% on Thursday after a media report cast doubt on the possibility of an interim U.S.-China trade deal and as a meeting of the OPEC+ alliance yielded no decision on deepening crude supply cuts.

Oil falls on possibility of Iran exports resuming after Trump fires hard-line adviser

Sep 10 2019

NEW YORK Oil prices edged lower on Tuesday after U.S. President Donald Trump fired national security adviser John Bolton, who took a strident stance against Iran, raising speculation of a return of Iranian crude exports to the market.

Bankrupt Philadelphia refiner paid executives millions in bonuses just after fire: documents

Sep 09 2019

NEW YORK Executives of the Philadelphia Energy Solutions oil refinery were paid roughly $4.5 million in retention bonuses after a summer fire that led to the plant's closure and before the company filed for bankruptcy a few weeks later, court documents show.

Oil little changed as U.S. crude stockdraw countered by demand fears

Sep 05 2019

NEW YORK Oil prices were little changed on Thursday as support from a sharp drawdown in U.S. crude inventories was countered by fears of slowing global demand growth amid doubts over resolving the U.S.-China trade feud.

Toxic chemical at PES refinery mostly cleared, aiding probe of June blaze

Aug 30 2019

Most of a highly toxic chemical stored at a fire-damaged Philadelphia oil refinery has been rendered inert, clearing the way for closer inspections of the site following a June blaze that led to the plant's closure, officials said on Friday.

Toxic chemical at PES refinery mostly cleared, aiding probe of June blaze

Aug 30 2019

Aug 30 Most of a highly toxic chemical stored at a fire-damaged Philadelphia oil refinery has been rendered inert, clearing the way for closer inspections of the site following a June blaze that led to the plant's closure, officials said on Friday.

Former CEO of shut Philadelphia refinery seeks to buy the plant

Aug 28 2019

NEW YORK The former chief executive officer of Philadelphia Energy Solutions is seeking to buy and restart the 335,000 barrel-per-day PES refinery, which closed after a June fire, the former CEO and backers of the plan said in a statement on Wednesday.

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