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
U.S. refiners are expected to show higher earnings for the third quarter as margins to sell gasoline and diesel have improved despite the surging cost of crude oil, analysts said. Continue Reading
Citgo is shutting down for four days parts of its refinery in Corpus Christi, Texas, due to a shortage of oxygen, which is needed at hospitals as COVID cases surge. Continue Reading
A refinery in the key oil hub of Texas has suspended some of its operations due to a lack of oxygen supply amid the coronavirus pandemic, with authorities citing increased Continue Reading
Refineries clustered around the city of New Orleans, Louisiana, are taking stock and assessing the impact Hurricane Ida had on their plants and surrounding infrastructure, with nearly 75% of Louisiana Continue Reading
U.S. refiner Phillips 66’s (PSX.N) decision to market a Louisiana oil processing plant offers a key test of investors’ views on the pace of the transition to electric vehicles, refinery Continue Reading
Imperial is moving forward with plans to construct a major renewable diesel complex at its Strathcona refinery near Edmonton, Alberta—the largest refinery in western Canada. This new complex is expected Continue Reading
The fourth-largest U.S. refiner Phillips 66 (PSX.N) on Tuesday said it has put the smaller of its two Louisiana refineries up for sale amid continued losses and an uncertain future Continue Reading
The pandemic very likely hit the downstream oil even more severely than exploration and production and led to longer suffering. But now, things are finally beginning to look up for Continue Reading
Starwood Energy Group Global has entered into an exclusive agreement with Slate Refining to reconfigure Slate’s refinery located in Douglas, Wyoming, into a renewable fuels production facility. Starwood Energy Group Continue Reading
Summer road trips and a pullback in crude prices have pumped up refineries’ profits, offering brighter prospects for one part of the global oil complex despite rising worries about Covid-19. Continue Reading
McKinsey & Company provides an answer. Demand for light products such as gasoline, diesel/gasoil, and jet/kero largely drives refinery utilization. Even in the case of a delayed energy transition, light Continue Reading
The owners of Limetree Bay, a Caribbean oil refinery dogged by cost overruns and regulatory troubles, filed for bankruptcy on Monday after lenders balked at putting new cash into the Continue Reading
Shell is reportedly planning to quit its California-based joint venture with fellow oil supermajor ExxonMobil (-2.79%) as it looks to accelerate its transition away from fossil fuels. Four sources told Continue Reading
U.S. refining capacity last year fell 4.5% to 18.13 million barrels per day (bpd) from a record 18.98 million bpd a year earlier, the U.S. government reported on Friday, reflecting Continue Reading
A key oil refinery for U.S. East Coast consumers is halting operations after escalating environmental scrutiny made it impossible for backers to obtain desperately needed financing. The owners of the Continue Reading
imetree Bay Energy will shut its St. Croix refinery indefinitely due to financial problems, the company said Monday, after a series of operational setbacks shuttered the facility. The 210,000 barrel-per-day Continue Reading
