Delta Air Lines plans to manage the volatile cost of jet fuel by getting into the oil refining business, an airline industry first. On April 30 the carrier said its wholly owned Monroe Energy subsidiary will acquire a refinery complex southwest of Philadelphia from Houston-based Phillips 66 for $180 million.
National Oil Corporation
According to BP, rapid growth in demand for all forms of energy dominated world energy markets last year, leading to rising prices. While growth in demand from China in particular was exceptional, BP said the strength of demand growth was a global phenomenon, increasing above the 10-year trend in every region of the world.