01 May '12, 4am

Delta Air Lines buys refinery in bid to cut fuel bill

(AP) - Delta Air Lines is buying a refinery in a novel - and some say risky - attempt to slice US$300 million (S371 million) a year from its escalating jet fuel bill. The airline said Monday that it is buying the refinery near Philadelphia for US$150 million from Phillips 66, a refining company being spun off from ConocoPhillips. The refinery has struggled to make money, and ConocoPhillips planned to shut it down if it couldn't find a buyer. So why is Delta buying it? Fuel is the largest and most volatile expense for the major airlines. Nobody likes to see the price of gas climb, but for airlines consuming billions of litres a year, it can be downright crippling. Consider this: Delta's planes burned through 14.76 billion litres of fuel last year, costing the airline US$11.8 billion - 36 per cent of its operating expenses. Please enable JavaScript to view the comments power...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

Tweets

Delta Electronics expects business growth in 2Q...

digitimes.com 02 May '12, 8am

Taiwan-based Delta Electronics expects significant growth in its business operation in the second quarter of 2012 mainly f...

Should U.S. Cut Import Duties On Electric-Car P...

greencarreports.com 30 Apr '12, 6pm

On the other, it makes it more expensive for domestic companies to buy in necessary components from overseas--such as thos...

SMRT full year down on rising fuel cost, pays s...

investmentmoats.com 30 Apr '12, 1pm

A dividend is never a given, and usually is a function of how well the business does, the amount of FCF generated and requ...

#Shell admits funding Niger Delta 'warlords': - guest blog by @PlatformLondon

#Shell admits funding Niger Delta 'warlords': -...

greenpeace.org.uk 02 May '12, 1pm

A guest blog from Ben Amunwa, campaigner with oil industry watchdog Platform . A recent video published online shows a She...

The Cost Of Obesity To Fuel Use? One Billion Ga...

greencarreports.com 03 May '12, 5pm

That's before you consider the additional cost to each invidivual consumer--springs, shocks, clutches, torque converters, ...

Luella silk skirt at 2 pounds. D: Someone bid o...

ebay.com.sg 12 May '12, 5pm

*The estimated delivery time is based on the seller's handling time, the postage service selected, and the payment method ...