Atlantic Basin refinery margins are rising back toward record levels set earlier this year, spurred higher by refinery outages and French refinery strikes, an analysis from S&P Global Commodity Insights Continue Reading
Diesel refining margins in both Europe and the United States have hit all-time highs as strikes at French refineries exacerbate a global shortage of distillate fuels. The price of diesel, Continue Reading
A heavy oil refinery turnaround season in Europe this autumn, plus French strike action, is set to push diesel prices higher and tighten supplies ahead of a European Union ban Continue Reading
US refining margins ticked up across the nation following a spate of unplanned refining fiascos, the beginning of seasonal turnarounds, and a pick-up in Atlantic Basin storm activity which could Continue Reading
A fire broke out at a refinery operated by BP in Toledo, Ohio, on Tuesday, with two people injured, according to a spokeswoman for the company. The refinery was shut Continue Reading
Wholesale gasoline prices are expected to keep falling in coming months as U.S. refiners overproduce fuel to try to rebuild low stocks of diesel and heating oil, according to analysts Continue Reading
The federal government declared a regional emergency in the states of Illinois, Michigan, Indiana, and Wisconsin following a fire that broke out at a BP-owned refinery in Whiting, Indiana. The Continue Reading
U.S. crude oil refineries plan to keep running near full throttle this quarter, according to executives and estimates, as refiners set aside worries about recession and sliding retail prices to Continue Reading
American refiners and oil and gas operators expect strong demand for fuels and energy through the remainder of the year, despite analyst concerns in recent weeks that demand could take Continue Reading
Summer demand for gasoline in the United States has declined over the past two weeks. After nearing $60 per barrel in June, the U.S. 321 gasoline crack spread fell last Continue Reading
A sudden crash in global gasoline prices in the past two weeks has dented refiners’ profits, pushing up inventories in key trading hubs around the world while looming exports from Continue Reading
All refiners and all integrated oil and gas companies are set for a windfall of profits. Extraordinary refining margins have boosted profitability. Refining profits may have peaked in the second Continue Reading
High refining margins and fuel demand in the second quarter are set to lead to exceptional earnings at Big Oil’s refining businesses. Some of the largest international oil majors have Continue Reading
The cost of key chemicals used in pharmaceuticals, rubber, and plastics are on the rise. Refiners have been prioritizing gasoline over chemicals as demand continues to rise. In addition, crude Continue Reading
Outages, tight spare capacity affect throughput Cracks remain elevated, apart from naphtha Global refinery runs rose in June as maintenance wound down, but a number of outages and tight spare Continue Reading
Shell Plc said soaring margins from fuel production may have added more than $1 billion to the earnings of its refining business last quarter when gasoline prices broke records in Continue Reading
Operable refining capacity in the United States hit a nearly decade low in 2022, the EIA’s latest Refining Capacity Report showed on Tuesday. U.S. refining capacity fell this year to Continue Reading
A fire tore through part of Russia’s Novoshakhtinsk refinery on Wednesday just 8 kilometres from the border with Ukraine after drones were spotted flying over the oil plant. Social media Continue Reading
Global diesel and gasoline markets are witnessing blowout crack spreads in the $50-60 per barrel (bbl) range, reflecting a clear lag in the refining system to respond effectively and decide Continue Reading
President Joe Biden told U.S. oil refiners that unprecedented profit margins are unacceptable. President Joe Biden told US oil refiners that unprecedented profit margins are unacceptable and called for “immediate Continue Reading
U.S. President Joe Biden continues to look for ways to bring down the high cost of gasoline—and the latest efforts have him taking a hard look at U.S. refinery capacity. Continue Reading
Motorists wait for hours in Abuja, Nigeria to fill their cars with petrol, due to the ongoing fuel shortage. A shortage of oil refineries across sub-Saharan Africa coupled with soaring Continue Reading
Asia’s refining margins for diesel hit a fresh record on Tuesday but may start cooling off as early as next month as refiners ramp up output and the upcoming monsoon Continue Reading
U.S. refining capacity could take a hit from an earlier than planned closure of a major refinery in Houston, which could worsen the refining and fuel crunch in the country. Continue Reading
Chevron CEO Mike Wirth’s view of U.S. refineries is that there will never be another new refinery building in the United States. High prices at the pump have triggered a Continue Reading
Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries Continue Reading
Demand for gasoline and diesel has all but recovered from pandemic lows in the U.S. A shortage of fuel-making facilities is pushing U.S. gasoline and diesel prices to record levels, Continue Reading
A global shortage of natural gas is giving U.S. fuelmakers an edge over European rivals. Refiners rely on natural gas as a crucial source of heat to distill crude oil Continue Reading
Soaring fuel prices have been a boon for U.S. refiners this year. Growing demand and tightening supply are helping push refining margins even higher. American refiners are likely to continue Continue Reading
Russia said on Monday it would investigate the cause of a large fire that erupted in the early hours of the morning at an oil storage facility in the city Continue Reading
Refiners are planning to spend the summer increasing jet fuel and diesel production instead of gasoline, traders and analysts said, favoring what have historically been the least profitable parts of Continue Reading
Small-scale private refining capacity’s share fell to 21% in 2021 Call for more oil product export quota to offset stock pressure NEV sales up despite fall in total car sales Continue Reading
Rigzone’s regular energy prognosticators take a look at the U.S. refinery run rate, Strategic Petroleum Reserve release destinations, growth in the context of pandemic recovery and more. (The views and Continue Reading
Negotiators from Chevron Corp (CVX.N) and the United Steelworkers union (USW) are scheduled to meet on Monday to discuss a possible end to a strike at the company’s oil refinery Continue Reading
Some plants in Russia halt due to lower exports Feedstocks face pressure finding homes Refineries in Russia and Belarus are reducing throughput, with some halting production, as they have been Continue Reading
Small and medium-sized Russian refineries, which predominantly rely on exporting their products, were expected to run at around 50% capacity in April with international buyers distancing themselves from the country’s Continue Reading
Major Russian oil refiners have told the Energy Ministry they expect to make deeper cuts to refinery runs in the coming weeks due to overstocking after a sharp drop in Continue Reading
Russia’s energy ministry is proposing to defer the planned completion of refinery upgrades because of sanctions announced after Russia’s invasion of Ukraine . Not registered? Receive daily email alerts, subscriber Continue Reading
The International Energy Agency has revised lower its global refinery throughput estimates for this year following Russia’s invasion of Ukraine , in its latest monthly report March 16. Not registered? Continue Reading
Russia’s refineries have started feeling the effect of a sharp fall in export sales of oil products in the wake of the country’s invasion of Ukraine. Rosneft’s 240,000 b/d Tuapse Continue Reading
Oil companies led by Marathon Petroleum (MPC.N) and the United Steelworkers (USW) agreed to a new national contract on Friday for 30,000 U.S. workers in refineries, chemical plants, and pipelines, Continue Reading
While gasoline prices continue to be a troubling political factor for the Biden Administration, the recent inclement weather in refinery country on the U.S. Gulf Coast has caused two major Continue Reading
The facility is crucial to Pemex’s plans to halt crude oil exports in 2023. Mexico’s mega-refinery project Dos Bocas is expected to cost 40% more than previously estimated and is Continue Reading
Highlights 2021 ends “on a high note” for global industry Capacity additions in 2022 could weigh on margins Refinery closures outweighed new capacity in 2021, leading to a drop in Continue Reading
Processing the high-sulfur crudes produced in the Gulf of Mexico hasn’t been this profitable since 2017, thanks largely to cheap shale gas. While Europe and Asia grapple with surging prices Continue Reading
Motiva Enterprises (MOTIV.UL) on Monday restarted the second-largest crude distillation unit (CDU) and small coker at its 607,000-barrel-per-day Port Arthur, Texas, refinery, said sources familiar with plant operations. A Motiva Continue Reading
Asian oil refiners are starting to see a recent resurgence in profitability go into reverse, eroding a source of demand strength that helped drive crude prices to an seven-year high Continue Reading
U.S. merchant oil refiners like Monroe Energy and PBF Energy Inc (PBF.N) are playing chicken with the White House, taking moves in the biofuels credit market that could force them Continue Reading
Marathon Petroleum Corp (MPC.N) signaled on Tuesday that a sustained rally in natural gas prices could take a toll on earnings, sending the largest U.S. refiner’s shares down 4%. The Continue Reading
Surging prices for natural gas are threatening to eat up the profit some oil refiners are making on their fuels, forcing them to cut processing rates and even altering normal Continue Reading
