#martinez-refining-company

#martinez-refining-company

"We just have not kept up with water supply and water infrastructure like we should have. And it's decades in the making," said Peter Zanoni, the city manager since 2019.

"With the long-term sustainability of our Los Angeles Refinery uncertain and affected by market dynamics, we are working with leading land development firms to evaluate the future use of our unique and strategically located properties near the Port of Los Angeles," Mark Lashier, chairman and CEO of Phillips 66, said at the time of announcing the closure.

KeyBanc's revised oil deck reflects a materially stronger crude environment than previously modeled, with dislocations in global crude and refined products expected to persist into summer.

Despite its patriotic branding and apparent alignment with Trump's America First agenda, the project's origins trace back to the Biden administration. The refinery concept was revived and permitted in 2024 under the name Element Fuels Holdings, with site preparation and approvals occurring well before Trump's return to office.

The United States - we produce more oil than we can consume. We're a net oil exporter," Wright said. This comment misses some important context. Some metrics show the U.S. as a net exporter, but for crude oil - the material that's refined into gasoline - the U.S. is a net importer.

Nobody expects today's high prices to last and we could very likely get back to the low $60 [per barrel] environment we faced just a few weeks ago. Experts say the unique geology of California's fields, and the nature of its heavy crude, make new projects, and efforts to pump more oil out of existing ones, costlier and more energy-intensive than drilling in other parts of the country.

Here, the contribution request betrays the email's true nature: a campaign promotion. Campaigning is not within Bonta's scope of employment. The judge pointed to a campaign email Bonta sent to Texas residents saying that only 5% is recycled and the rest ends up in the environment and in our bodies: 'Exxon Mobil knew, and Exxon Mobil lied.'

The death of Iranian Supreme Leader Ayatollah Ali Khamenei on February 28, 2026, per NPR reporting, sent immediate shockwaves through energy markets. WTI crude climbed from $61.60 on February 2 to $71.13 by March 2, and prediction markets now assign 97% probability to crude reaching $75 by end of March, with 81% confidence in a move to $80.

The company's record production jumped 12% year-over-year, driven by the Hess acquisition, which added 261 thousand barrels of oil equivalent per day. CEO Mike Wirth called it a "significant achievement...integrated Hess, started-up major projects, delivered record production." Chevron's integrated model spans upstream production, refining, chemicals, and emerging energy ventures, including lithium and hydrogen projects. The company returned $12.1 billion in share buybacks for the year and raised its dividend 4% to $1.78 per share.