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Such a condition is called a split estate. Once severed from surface ownership, oil and gas rights may be bought, sold, or transferred, like other real estate property. Ownership in the oil and gas rights for different horizontal layers, or strata, may be further divided and sold to different parties.
The Oil & Gas Journal publishes a worldwide list of refineries annually in a country-by-country tabulation that includes for each refinery: location, crude oil daily processing capacity, and the size of each process unit in the refinery. For some countries, the refinery list is further categorized state-by-state.
American petroleum refining largely grew out of oil shale refining. When the Drake Well started producing in 1859, the oil shale industry was growing rapidly, and establishing refineries near cannel coal deposits along the Ohio River Valley. As oil production increased, the oil shale refiners discovered that their refining process worked just ...
As if anyone needed more evidence of the difficult path to profits in the oil refining business, Hess Corp. (NYSE: HES) said this morning that it will shut down its Port Reading, N.J., refinery ...
Nov. 24—A senior executive is stepping down from the Long Beach-based company trying to convert a former oil refinery on Rosedale Highway into a renewable diesel plant. Global Clean Energy ...
Governor Gavin Newsom said Thursday he will compel California oil refineries to stockpile additional fuel reserves in an effort to ward off price spikes, marking the latest move in his multi-year ...
In September 2010, Petroplus announced plans to sell its 32.62 percent stake to its partners for $91 million as PBF acquired the Paulsboro refinery from Valero Energy. [7] [8] PBF then acquired the Toledo refinery from Sunoco in December 2010 for approximately $400 million. [9] PBF went public in December 2012 with a $533 million initial public ...
Emory Clark sold his interest in the company in 1981 to Apex Oil, a St. Louis, Missouri–based company. In 1985, Apex decided to sell Clark Oil. By 1987, Clark and Apex were bankrupt. [1] In 1992, a division of Toronto-based Horsham Corp. bought Clark Oil and Refining, which included the two refineries and around 1,000 gas stations.
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