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But the rise of crude-by-rail after his acquisitions let PBF and other surviving East Coast refiners tap that inland bounty and reduce reliance on imports.
Early last month, the Indian government sent a letter to the refiners who have bought Iranian oil suggesting they start buying foreign exchange now and not wait until they all have to buy billions in a short period.
66 a barrel in August, with refiners still waiting for high-cost crude shipments to arrive, those improvements may not hold.
The tax break will help refiners save around Rupees 1/litre (1 cent/litre), said Aftab Hussain, CEO of Pakistan Refinery Limited.
Shell has some financing from Chinese banks and Italian refiners are getting some volumes with the help of Italian banks," one major player on the Mediterranean crude market said.
Refiners have been required by the EPA to spend billions to improve the quality of gasoline and diesel products as well as reduce air and water emissions from refineries.
Most precious metal refiners will be pleased to provide copies of required documentation which could include permits under the Clean Air and Water Acts and prove that the company qualifies as a bona fide precious metals refiner as specified in the preamble to the Boiler and Industrial Furnace (BIF) Rule and its amendments.
But by acting in concert, across the industry, refiners could ensure that supplies constrict in an artificial and manipulative manner, insulating refiners from competition, causing unprecedented price spikes and guaranteeing themselves hefty profits," said Gas Pump Watch.
Another controversial issue that is debated in the gasoline industry is divorcement, the legal restriction that refiners and retailers cannot be vertically integrated, i.
According to Rand's survey, refiners themselves have done nothing to address supply, either.
When this is the case, alloy additions, fluxes and grain refiners are critical components to quality metal.