The report concluded that a pipe ruptured due to severe sulfidation corrosion and there was a very low concentration of corrosion-inhibiting silicon in the ruptured pipe.
Chevron says net income rose 41 percent in the fourth quarter as the company produced more oil and gas, improved performance of its refinery business and realized a gain from swapping assets in an Australian natural gas field.
The California Division of Occupational Safety and Health had fined Chevron nearly $1 million for worker safety violations related to a massive Aug. 6 fire at the company’s Richmond refinery.
Chevron has paid about $10 million to cover medical expenses and other claims in the wake of the fire at its Richmond refinery on Aug. 6 and is updating its equipment and safety procedures to prevent a similar incident, representatives from the oil company said Tuesday.
Officials at Chevron Corp. said the company has paid about $10 million and begun what they’re terming “corrective actions” after a fire last summer at its Richmond refinery.
Chevron Corp. expects fourth-quarter earnings to be “notably higher” than third-quarter profit. The company said Thursday that its fourth-quarter results will be helped by bigger gains on asset sales and more oil and gas production.
Chevron’s plan to get its Richmond refinery back to full operating capacity following a massive fire could be slowed by a dispute over the type of piping it wants to use to make repairs.
The damaged crude oil unit that exploded in flames at Chevron’s Richmond refinery last August is now undergoing repairs, but the work is being done under close scrutiny.
Chevron’s Richmond oil refinery should be fully functional again during the first quarter of 2013, once repairs to the crude oil unit devastated by a massive fire in August have been completed, a company spokesman said Friday.
Chevron says its third-quarter net income fell 33 percent as production declined and it sold oil and gas at lower prices.