A Refinery Crisis Is Brewing In Oil Markets
The ongoing energy transition combined with the effects of Covid-19 will drive future oil demand to lower levels than what was expected just months ago. As a result, a plethora Continue Reading
Renewed Lockdowns Threaten More Refinery Closures In Europe
More refineries in Europe are at risk of permanent closures, with fuel demand on the continent falling again as major economies re-imposed lockdowns to fight the spike in coronavirus cases. Continue Reading
Libya’s output surge readily absorbed by refiners in sign of strong oil demand: traders
Refiners have quickly snapped up the faster-than-expected 1 million b/d rise in Libyan crude production with scant effect on market structure, indicating firm demand, two top oil traders said Nov. Continue Reading
Proposed $3.3B gasoline plant in southern Arizona halted
Construction of a proposed gasoline plant in southern Arizona that would have generated more than 2,000 jobs has been halted after the company planning the project reprioritized its projects, a Continue Reading
Adapt Or Die: Refiners Face An Impossible Decision
Refinery conversion and closures: this is the shortest summary of things happening in the downstream industry right now. With the pandemic wreaking havoc on oil—and fuel—demand, refiners have found themselves Continue Reading
Fuel Demand Slump Speeds Up Refinery Closures
Refiners around the world have been announcing permanent closures of refinery capacity this year after the pandemic crushed fuel demand worldwide, and significant overcapacity still remains, the International Energy Agency Continue Reading
N.J. Refinery Is the Latest Casualty of Fuel-Demand Collapse
PBF Energy Inc.’s Paulsboro refinery in New Jersey has became the latest oil processing facility to fall victim to a Covid-driven collapse in fuel demand, announcing plans to idle operations Continue Reading
Maintenance, run cuts, closures in focus in Europe
Maintenance works are starting at a number of refineries in Europe as demand for products and margins remain under pressure. Some plants have also decided to halt fully or keep Continue Reading
Refiners Stuck in Middle of Oil Market Upheaval
The global network of tankers, pipelines and refineries that makes useful fuels out of crude oil is built on long-standing patterns of consumption: so much gasoline for the world’s drivers, Continue Reading
Citgo Sets Timeline to Restart Louisiana Refinery
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
US oil refiners hope fat is way out of lean times
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
New Breed of Refineries Emerging in Asia
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
Intense Competition Forces Western Refiners To Reinvent Themselves
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
Some plants in Asia-Pacific considering halts
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
Refinery Closures Continue Amid Oil Demand Slump
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 refineries report lower Q2 throughput
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 to convert San Francisco Refinery into world’s largest renewable fuels plant; 800M+ gallons per year
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
U.S. Oil Refiners Accelerate Shift to Renewables in Downturn
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
Delta Air Lines Bought an Oil Refinery. It Didn’t Go as Planned.
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
Refiners Retrench as Demand for Gasoline, Jet Fuel Shrivels
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 Price Crash Forces Refiners To Consolidate Or Die
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 Oil Major Looks To Leave Conventional Refining
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 Idles Unit At Texas Refinery Due To Demand Crash
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
Texas Refiners Contend with Virus Rebound
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 Considers Selling Its 240,000 Bpd Louisiana Refinery
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
US Refineries Still Running Below Seasonal Norm
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 crash piles pressure on bloated refining sector
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
Lost in Oil’s Rally: $2 Trillion-a-Year Refining Industry Crisis
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
Analysts Expect Refinery Closures
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
Goldman Says Refineries to Shut on Less Demand, New Projects
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
US refinery capacity tops 20 million b/d in 2020 as refiners slow, defer further expansion plans
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
USAC refiners see higher Bakken margins
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 Slows Gulf Refinery Expansion
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 refiners restart plants, units
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
The World Has Too Many Oil Refineries
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
Refinery margin tracker: US refiners absorb Saudi barrels then turn to local supply
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
Supply Shortages Prevail During Covid-19 Outbreak, Restricting Growth of Oil-water Separator Market
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
Crashing Fuel Demand Leads To Large Loss For This Big U.S. Refiner
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
Prolonged coronavirus impact exposes cracks among Asia, Oceania refiners
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 March oil product output slumps 13% on year at 33.85 mil mt
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
Refinery margin tracker: USWC refinery run cuts pay off as Saudi crude arrivals ramp up
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 halt on coronavirus
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
U.S. Refineries In Jeopardy As Gasoline Consumption Plunges
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
Some US Oil Refineries May Be About to Shut
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
BP’s U.S. Refineries Cut Run Rates As Demand Crumbles
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 cuts refinery runs to 70% as coronavirus pandemic eats away at gasoline demand
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 shift into maximum diesel mode as gasoline prices dip below $1/gal
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
Refiners Are Having To Pay To Produce Gasoline
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
Global oil refiners shut down as coronavirus destroys demand
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
American Pump Prices Fall Below $2 in First Time in Four Years
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