The national refining company used many trademarks throughout its 68 years of operation, but the one most familiar is the enarco and white rose trademarks. Shareholders of tesoro tso 1% and western refining wnr 0. Downstream operators tesoro corporation tso and western refining, inc. During the fifth merger wave, investors were seeking crossborder deals. Tesoro, western refining stockholders approve merger deal. San antonio, texas march 24, 2017 stockholders of both tesoro corporation nyse. Pdf petroleum refining technology dr ram prasad 1st. If you are involved in oil and gas operations, sales, retail, etc. Mol group said it has completed its acquisition of enis downstream business in hungary. Petroleum refining and petrochemical industry integration and. As energy production in the united states rises substantially, pipeline and storage companies will look to expand capacity through acquisitions, industry analysts and investors forecast. Exxon merging oil refining and marketing units reuters. Although the us was the worlds largest net importer of refined petroleum products as recently as 2008, the us became a net exporter in 2010, and in 2014 was the largest exporter and the largest net exporter of refined petroleum.
This latest edition of a bestselling text provides updated data and addresses changes in refinery. Petroleum refining technology and economics 4th edition pdf. Mergers by oil and gas companies trending toward consolidation. This report updates two earlier ftc studies on mergers and structural change in the u. Petroleum refining in the united states in 20 produced 18. Western refining announces results of tesoro acquisition. Petroleum refiners must face billiondollar investments in equipment in order to meet everchanging environmental requirements.
Enarco was used for the grease and oil products and white rose was used for gasoline. After the merger, the company is expected to rank as the largest refiner by capacity in the u. For the purpose of the present article, this market is not discussed further. Leffler 1985, petroleum refining for the nontechnical person, 2nd edition, pennwell books, isbn 0878142800. Apr 30, 2018 the combination is intended to create a leading u. Pdf petroleum refining technology economics and markets sixth. Holly corporation and frontier oil corporation announce. Petroleum refining technology and economics, gary j. The answer requires a thorough understanding of what motivates mergers, a topic that continues to be hotly debated. Introduction, products, refinerys configurations, hydrogen technologies faculty of chemical engineering and technology university of zagreb ante jukic zavod za tehnologiju nafte i petrokemiju hr0 zagreb, savska cesta 16, p.
The company said the deal is in line with its strategy of retail expansion and further downstream. With direct and deepseated contacts in these sectors, were able to quickly maximize value for our clients by providing topnotch business buyers and sellers in both buy and sellside transactions. Technology, economics, and markets, sixth edition by mark j. Composition of petroleum, refinery products, characterization of. Written by experts with both academic and professional experience in refinery operation, design, and evaluation, petroleum refining technology and economics, fifth edition is an essential textbook for students and a vital resource for engineers. The types of refinery products and crude oil inputs influence the complexity of the refining process. Mar 24, 2017 san antonio, texas march 24, 2017 stockholders of both tesoro corporation nyse. Bayless, executive vice president and cfo 8322429600 or.
Petroleum refinery engineering petroleum is a combustible oily liquid of reddish brown to almost black colour, produced from oilwells. Petroleum refining processes have been discussed in six chapter. Whether these deals involve a few million dollars and a dozen employees or billions of dollars and hundreds of employees across multiple countries, they can determine a companys fate. Tesoro and western refining stockholders approve acquisition. Petroleum refining and petrochemical industry integration and coordination under uncertainty by khalid y.
May 31, 2017 as previously disclosed, on november 16, 2016, western refining, tesoro, tahoe merger sub 1, inc. Because the design and construction of new processing units entail several years lead time, refiners are reluctant to commit these dollars for equipment that may no longer meet certain conditions when the units come on stream. Mar 27, 2017 downstream operators tesoro corporation tso and western refining, inc. Black oil, which collects and purchases used motor oil directly from thirdparty generators, aggregates used motor oil, and sells used motor oil to its customers for use as a feedstock or replacement fuel for industrial burners.
We have extensive experience in energy mergers and acquisitions and particularly in the oil, natural gas and petroleum distribution markets. This will be presented to the general meetings, which will be asked to accept or reject it. Reviewing industry developments since the 1980s, this report finds, among other things, that concentration in crude oil at the country or company level has remained relatively low and that mergers among private oil companies have not significantly affected crude oil concentration. Resurgence in oil and gas sector spurs merger boom the new. Mergers and acquisitions in the oil and gas industry. Mergers by oil and gas companies trending toward consolidation deloittes midyear report point to increase in merger and acquisition activity. The biggest mergers and acquisitions in oil stocks the. In the edpenigdp decision, the commission identified the provision of balancing power and ancillary services as an emerging market, the exact delineation of which could be left open. Enarco was the trademark used by the company starting in the early 1900s. Handwerk 1984, petroleum refining technology and economics, 2nd edition, marcel dekker, isbn 0824771508 w. By voting for the merger plan, an implicit decision is also taken in favour of all the conditions included in the merger plan, such as the exchange ratio, the articles of association, changes to the capital and so forth.
Exxon mobil corp is merging its refining and marketing divisions to boost profits from its downstream businesses, the first major restructuring under chief executive darren woods. Several of those were accompanied by corporate governance problem and dotcom bubble. Vertex energy is an environmental services company that recycles industrial waste streams and offspecification commercial chemical products. As previously disclosed, on november 16, 2016, western refining, tesoro, tahoe merger sub 1, inc. Adjusting to the new reality to discover the effects these factors had in 2015. The publisher has supplied this book in encrypted form, which means that you need to install free.
The merger boom in the energy sector shows no signs of slowing. Property interests are sometimes described as sticks in a bundle of rights, and our legal system assures that more than one person can hold sticks in the bundle of rights in the same item of property. An oil refinery or petroleum refinery is an industrial process plant where crude oil is transformed and refined into more useful products such as petroleum naphtha, gasoline, diesel fuel, asphalt base, heating oil, kerosene, liquefied petroleum gas, jet fuel and fuel oils. Alqahtani a thesis presented to the university of waterloo in fulfillment of the thesis requirement for the degree of doctor of philosophy in chemical engineering waterloo, ontario, canada, 2009 khalid y. Most likely, the articles of merger will be filed with the states secretary of state. Merger of property interests agricultural law and management. This book is a great reference tool for people in petroleum related fields who do not have technical training. Ravenscraft why are we in the midst of one of the largest merger waves in united states history. Tesoro merger with western refining faces investor lawsuit. W withheld to avoid disclosure of individual company data. Before you begin projecting an energy companys financial statements, you need to know something about the units used.