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Mr. O'Malley will run Phillips's refining, marketing and transportation division as a vice chairman.
Three of them are in Iberia, where Repsol will strengthen its downstream activities of refining, marketing and petrochemicals.
It was primarily engaged in the production, refining, marketing, and shipping of crude oil and natural gas.
Chevron said its refining, marketing and transportation operations lost $613 million in the quarter, after posting a profit of $2.1 billion a year earlier.
Chevron has said it will reduce spending by $1 billion this year on downstream businesses, which include refining, marketing and transportation.
His father retired as the vice president for worldwide trading and supply in the refining, marketing and transportation division of the Phillips Petroleum Company in Bartlesville, Okla.
Similar(32)
Second, they have no refining assets, which means they are not exposed to the weak refining market.
Another was weakness in the refining market, where returns are thin at best, and a sagging oil price.
The refining market today "is at once both more competitive for petroleum products," Mr. Verleger said, "and much less financially secure".
The company attributes the losses to a lack of competitiveness in the European petrochemicals sector, along with a weak refining market.
Greens fear lower standards, but the current system is an awful mess: dozens of local variations have created a balkanised refining market and make shortages almost inevitable.
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