Construction Management Intern Co-op - Refining

325.5 billion dollars in 2026... profits of American refining companies * Refined products offset crude costs * $243 billion in profits for 8 companies in 2025 * Oil refinery output highest in 5 years October 2, 2026 12:19 pm | Last updated: October 2, 2026 13:09 Reading time - 2 minutes Independent American refineries are expected to generate $325.5 billion in revenue in 2026, driven by record margins, supply disruptions, and increased production and exports amid calls for government intervention. The Financial Times said that revenues of the eight independent American refining companies are expected to reach $325.5 billion during the current year, compared with $242.9 billion the previous year, based on the companies' second-quarter results and Wall Street's third-quarter forecasts. This jump comes as the rise in crude oil costs is offset - more than expected - by strong prices for refined products, pushing refining margins to record levels. Arne Schiaveland, an analyst at Rystad Energy, points out that fuel supply disruptions caused by conflicts in the Middle East and Russia are radically changing financial performance, with profit margins approaching levels not seen by markets except during the 2022 energy crisis. The three largest independent oil refining companies - Valero, Marathon Petroleum, and Phillips 66 - are expected to achieve net profits of $8.7 billion, $10.9 billion, and $7.9 billion, respectively, during the six months ending in September. All eight refining companies are also expected to maintain their profitability in the third quarter, as they raise production rates to record levels to meet the global shortage in diesel and other fuel supplies. U.S. refinery output reached its highest level in five years, recording 17.4 million barrels per day in August, as facilities operated at more than 95% of their production capacity for 15 consecutive weeks - the longest such period since 1998 - according to Rystad Energy data. Exports of diesel, gasoline, jet fuel, and naphtha rose to 2.8 million barrels per day, compared with 2.3 million barrels the previous year, as buyers in Europe and Latin America sought alternatives to limited supplies coming from the Middle East and Russia. Integrated oil companies are also benefiting from this situation; Chevron announced its highest quarterly profit in its history during the three months ending in June, while Exxon Mobil recorded its strongest quarterly profit since 2022. This profit boom has escalated calls for intervention in Washington, including calls to impose a ban on diesel exports or impose a windfall profits tax on oil companies. Democrats are pushing toward passing the Big Oil Windfall Profits Tax Act, while some Republican lawmakers from agricultural states support imposing restrictions on exports, hoping to lower fuel costs for farmers. The Trump administration is studying options for dealing with the sharp rise in diesel and gasoline prices ahead of the midterm elections scheduled for November, but it has so far resisted the idea of imposing an export ban. Energy analysts warn that such a move could push refining companies to reduce production and raise prices for other types of fuel, while the American Petroleum Institute stresses that refineries are already operating near maximum capacity, and that current price levels reflect a severe disruption in global supplies, not deliberate behavior by companies. The war and the expansion of sanctions imposed on Iran have increased concerns about supply disruptions, pushing Brent crude and West Texas Intermediate prices sharply higher.

College of Engineering to host more than 170 companies for Fall Career Expo on Thursday. By Nicki Gorny The University of Toledo College of Engineering will host more than 170 companies for its Fall Engineering Career Expo on Thursday, Sept. 24. UToledo's College of Engineering is one of only eight in the country with an integrated cooperative education program, ensuring that engineering science students graduate with a full year of relevant work experience on their resume. Its semiannual career expos support students seeking these co-ops, as well as students and alumni seeking post-graduation employment. A student networks with a company representative at the Spring Career Expo. The College of Engineering hosts semiannual career expos to support students seeking co-ops, as well as students and alumni seeking post-graduation employment. Approximately 800 students and alumni are expected to network with company representatives at the upcoming expo, which is slated from 9 a.m. to noon in Savage Arena. "The stellar reputation of our co-op program is one of the reasons that students come to The University of Toledo College of Engineering - and one of the reasons that companies list us as one of their target universities," said Geoffrey Humphrys, the assistant director of the Shah Center for Engineering Career Development. "The Engineering Career Expo is one of the most effective platforms for our talented engineering students and graduates to connect and network with our highly committed employers and alumni. Our students are working literally all over the world and truly making an impact on the global economy." The college's long-standing co-op program supports a new experience-based learning initiative being rolled out across the University. Applied Skills for Career Experience, Networking and Development (ASCEND) ensures that all incoming undergraduate students, regardless of major, will engage in an experience-based learning opportunity before they earn their degree, setting them up for success in careers in a wide variety of industries. The College of Engineering counts 27 corporate partners that routinely welcome cohorts of students for co-ops. Several corporate partners are set to participate in the Fall Engineering Expo, including Cenovus Energy, Douglas Co., First Solar, Libbey, Lincoln Electric, Matrix Technologies, Nexus Engineering Group, North Star BlueScope Steel, NSG/Pilkington North America, PCC Airfoils, Rudolph Libbe and SSOE plus four companies on the Fortune 500: Dana Inc., Marathon Petroleum, Owens Corning and Vistra. Schaeffler Group, a global automotive and industrial supplier with a facility in Wooster, Ohio, is also set to participate alongside additional companies including Applied Environmental Solutions, Cook Medical, Midmark Corp., Monroe Environmental, Steris Endoscopy, Toledo Refining Co. and USG. "Along with providing a great engineering education, The University of Toledo is one of the best schools for employers to secure co-op opportunities throughout the year," said Scott Schrader, director of industrial engineering at Schaeffler Group. "UToledo offers a three-semester rotation program that only a few other universities in the country have implemented. Personally, I've struggled to find co-op opportunities outside of the summer semester, but UToledo's program is designed to support both students and employers in maximizing the learning experience." Blake Liffick, a senior studying chemical engineering, is among the students who have benefited from the Engineering Career Expos. "As a freshman attending the career expo for the first time, I felt overwhelmed and unsure of how to approach employers - especially without any prior work experience," Liffick recalled. "I worried I wouldn't have much to offer. But I quickly discovered that the true value of the expo lies in building connections. One conversation I had that day led to a co-op opportunity the following year, and eventually two more rotations with the same company." Liffick recently accepted a full-time position at the company where he completed his co-ops. He's set to launch his career following his anticipated graduation in December. "The University of Toledo College of Engineering provides a powerful platform for students to network," he said. "And for many - including myself - it becomes a pivotal step toward launching a successful career." Photo Caption: A student networks with a company representative at the Spring Career Expo. The College of Engineering hosts semiannual career expos to support students seeking co-ops, as well as students and alumni seeking post-graduation employment.