CITGO Petroleum Corp. on Wednesday issued on update on its progress restoring operations at its Lake Charles, La., refinery, which sustained damage from Hurricane Laura nearly four weeks ago. In Continue Reading
California’s goals for cleaner motor fuels are sparking changes at big US oil refiners, as they retool to make a form of diesel from cooking oil cast off by restaurants Continue Reading
As the age of the hydrocarbon enters its final era, the action increasingly moves to Asia and plastics take center stage. With demand for transport fuels set to tail off Continue Reading
The Covid-19 pandemic and the oil crisis have taken a heavy toll on demand for transport fuels such as gasoline and jet fuel leading to severe margin compression for refineries. Continue Reading
A number of refineries in Asia-Pacific are either halting operations or considering shutdowns given the uncertain outlook, including the Philippines’ Tabangao, Australia’s Geelong and New Zealand’s Marsden Point. Meanwhile, some Continue Reading
Refiners are shutting down permanently or converging oil refineries as the demand crash from the pandemic continues to crush refining margins. Several refiners and oil majors have recently announced permanent Continue Reading
Russian oil companies reported lower refinery throughput in Q2 due to reduced demand for oil products. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Motor fuel Continue Reading
Phillips 66, a diversified energy manufacturing and logistics company, plans to reconfigure its San Francisco Refinery in Rodeo, California, to produce renewable fuels. The plant would no longer produce fuels Continue Reading
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
Jet fuel is known as the Steady Eddie of the refinery business, a predictable profit maker that balances the seasonal gyrations of gasoline and diesel sales. But for airlines, it Continue Reading
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
Oil demand is recovering. This has been the most important message from analysts for the energy industry over the past couple of weeks. OPEC+ is cutting production, and so are Continue Reading
Italian major Eni plans to exit traditional refining activities within the next decade as it is focused on bio-refineries and accelerating its transition to low-carbon energy, chief executive Claudio Descalzi Continue Reading
Shell is idling a unit at the Deer Park, Texas, refinery for several months due to low demand for fuels, sources familiar with the refinery’s operations told Reuters . The Continue Reading
Oil refineries aren’t being spared as Covid-19 sweeps through Texas, which is setting records for new infections and hospitalizations in the U.S. almost daily. The second-biggest U.S. refinery, Marathon Petroleum Continue Reading
Shell is considering selling its 240,000-barrels-per-day refinery in Convent, Louisiana, as part of a broader strategy to reshape its refining portfolio, the supermajor’s spokesman Curtis Smith told Reuters . Sources Continue Reading
U.S. gasoline demand recovered to where it was before the pandemic closed much of the country, but it’s still well-below where it usually is in height of the summer driving Continue Reading
Oil refineries are struggling as the worst demand-crash in decades cascades through the industry, leaving plants around the world at risk of closure. Demand for fuel remains depressed and stockpiles are Continue Reading
Crude oil is the world’s most important commodity, but it’s worthless without a refinery turning it into the products that people actually use: gasoline, diesel, jet-fuel and petrochemicals for plastics. Continue Reading
The global refining industry is entering a consolidation phase as slowing oil demand growth is set to coincide with large-scale projects that will start coming online next year, according to Continue Reading
The global refining industry is entering a consolidation phase as slowing oil demand growth is set to coincide with large-scale projects that will start coming online next year, according to Continue Reading
The US Energy Information Administration’s annual report on American refineries showed capacity topped 20 million b/d in 2020, as refiners increased their ability to run more price-advantaged domestic crude to Continue Reading
New York — Better margins have US Atlantic Coast refiners buying more Bakken, as exports of the North Dakota crude appear to have tapered off and the grade’s discount widened, Continue Reading
Exxon Mobil Corp. will delay the startup of its Beaumont refinery expansion on the Texas Gulf Coast by a year as the oil giant weathers low demand for petroleum products Continue Reading
European refineries that were suspended due to the coronavirus are now restarting plants or units, as demand picks up, even though margins remain volatile. Receive daily email alerts, subscriber notes Continue Reading
At the start of the global pandemic in March, refineries around the world had to cut back on processing amid collapsing demand. However, there is a structural problem underway in Continue Reading
New York — US refinery margins gained traction last week, led by rising gasoline and diesel demand as regions reopened from coronavirus lockdowns – and just in time to refine Continue Reading
Global Oil-water Separator Market Growth Projection The new report on the global Oil-water Separator market is an extensive study on the overall prospects of the Oil-water Separator market over the Continue Reading
U.S. refiner Valero Energy Corporation ( NYSE: VLO ) reported on Wednesday a net loss of $1.9 billion for Q1, compared to a profit for the same period last year, Continue Reading
An extended period of coronavirus-related oil demand destruction has exposed weaknesses in Asia and Oceania refineries, with a slew of fuel producers in the region reviewing 2020 operation plans in Continue Reading
China’s overall output of six major oil products — LPG, naphtha, gasoline, jet/kerosene, gasoil and fuel oil — fell by an average of 12.5% year on year at 33.85 million Continue Reading
Weak refining margins resulting from poor demand has US West Coast refiners further paring back runs, with Marathon temporarily idling its 161,500 b/d Martinez, California, refinery as stay-at-home orders remain Continue Reading
Some refineries in Africa are halting production or considering reducing throughput due to reduced demand on the coronavirus pandemic and soaring inventories. Chad’s Ndjamena refinery in Djarmaya temporarily suspended processing Continue Reading
Last time when prices at the pump were so low—about four years ago—it was heaven for drivers. Now, with lockdowns across most states, it is anything but: gasoline may indeed Continue Reading
The next step for some U.S. refineries that have already cut way back may be a full stop. Marathon Petroleum Corp. plans to idle its Gallup, New Mexico, refinery next week, Continue Reading
Limited storage for refined products has forced BP to cut the refinery rates at its three largest refineries in the United States to 80-85 percent as fuel demand is crumbling Continue Reading
HollyFrontier said it has cut rates to 70% at its refineries as it looks to manage demand destruction brought upon by the coronavirus pandemic. Receive daily email alerts, subscriber notes Continue Reading
US refiners are getting slammed by falling demand for petroleum, but some are faring worse than others depending on location and ability to increase distillate output as the diesel-to gasoline Continue Reading
When the oil markets go into a deadly tailspin as they have right now, sooner or later, everybody in the value chain starts to feel the heat keenly. Only three Continue Reading
he first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement Continue Reading
U.S. retail gasoline dropped below $2 a gallon for the first time since March 2016, before President Trump was elected. The average pump price fell to $1.99 per gallon Friday, retail tracker GasBuddy said. Continue Reading
Oil refiners across the U.S. are being forced to throttle back operations amid a historic plunge in gasoline demand and prices. Plants representing more than 10% of U.S. fuel-making capacity Continue Reading
Refining operations in Europe and elsewhere in the world are being curtailed as gasoline and jet fuel demand is falling off a cliff due to the enormous demand destruction in Continue Reading
Refining operations in Europe and elsewhere in the world are being curtailed as gasoline and jet fuel demand is falling off a cliff due to the enormous demand destruction in Continue Reading
Sinclair Oil Corp, which operates two Wyoming refineries and has licensed more than 1,000 branded gasoline stations, is reviewing offers to buy the company, according to three people familiar with Continue Reading
A Canadian company said Wednesday it has started preliminary work along the route of the proposed Keystone XL oil sands pipeline through the U.S. in anticipation of starting construction next Continue Reading
A federal judge finally confirmed the Chapter 11 bankruptcy plan of Philadelphia Energy Solutions (PES) on Thursday. The plan includes the sale of PES’s 1,300-acre refinery complex to a real Continue Reading
China’s independent refineries in eastern Shandong province have cut February run rates to a four-year low of around 40% in February, down from 63.5% in January, as product sales slump Continue Reading
As major Northeast Asian refineries continue to slash their run rates and crude throughput levels in the wake of the coronavirus outbreak, various crude suppliers from West Africa, Far East Continue Reading
China’s independent refineries in eastern Shandong province have cut February run rates to a four-year-low of around 40% in February, down from 63.5% in January, as product sales slump due Continue Reading
