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
The U.S. Environmental Protection Agency is requiring that Limetree Bay refinery install 18 air monitors in St. Croix after ordering the plant to halt operations last month, the agency said Continue Reading
It didn’t take long for the Environmental Protection Agency official to discover the problem. It was 7:10 p.m. on a Wednesday night. The EPA employee who had been deployed to Continue Reading
Predictions of peak oil and the impending demise of fossil fuels will hit Asian oil refiners especially hard. The region is home to three of the top four oil-guzzling nations, Continue Reading
The Odessa Development Corporation and Nacero Inc have announced plans to build a $6.5 billion to $7 billion lower carbon gasoline manufacturing facility at a site in Penwell, Texas. The Continue Reading
The coronavirus pandemic has shortened Europe’s energy transition. What was initially perceived as a gradual movement towards fewer emissions and greener generation has now become an unprecedently ambitious endeavour – Continue Reading
US refinery runs are expected to reach 15.18 million b/d for the week ended April 9, S&P Platts Analytics data showed, as refineries continue to come back online in the Continue Reading
China’s build-up of oil refining capacity is threatening the viability of other Asian refiners as the country is about to become the world’s largest refiner this year amid still depressed Continue Reading
U.S. gasoline demand has rebounded to nearly pre-pandemic levels, but after a horrendous 2020, American refiners are looking to cut costs wherever and whenever possible in light of the still-sluggish Continue Reading
U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels, Continue Reading
Nearly a month after an Arctic blast knocked out more than 18 of 30 Texas refineries, and almost 5 million barrels a day of crude-processing capacity, all but two sites Continue Reading
Just seven U.S. oil refineries out of the 18 that were down due to the Texas Freeze are operating normally as of Monday, according to Bloomberg. Those 18 refineries that Continue Reading
Refiners and integrated oil firms continue to struggle with low refining margins, as a part of global oil demand—jet fuel consumption—is still enormously depressed by international travel restrictions. Margins for Continue Reading
Texas fuel makers are racing to restore operations knocked out by mid-February’s brutal winter storm, but they’re also casting a wary eye on improvements in the market and may be reluctant Continue Reading
US Gulf Coast petrochemical producers were working to restart facilities that shut when a deep freeze hit the region the week of Feb. 15, but those efforts faced ups and Continue Reading
Refineries in Texas are finding a return to normal after last week’s Arctic blast and widespread power outages is a messy, stop-and-start process. At least seven of them were trying Continue Reading
Four of the largest refineries in Texas are discovering widespread damage from the deep freeze that crippled the state and expect to be down for weeks of repairs, raising the Continue Reading
A brutal polar vortex has paralyzed much of Texas. Three million people are left without power as an extreme cold snap sends power demand to record highs . Energy infrastructure, Continue Reading
U.S. refiners are girding for a painful slate of fourth-quarter earnings, reflecting the pressure of rising crude prices, weak demand due to renewed COVID-19 travel restrictions, and higher costs of Continue Reading
U.S. refiners have started to release plans to lower their carbon footprints, with a focus on reducing Greenhouse Gas (GHG) emissions by boosting renewables output, and through carbon capture programs. Continue Reading
5 million b/d net refining swing from West to East over 2020-2021 Petrochemicals shift in Asia, bio-refining switch in Europe, US China to be dominant refining force in 2021 as Continue Reading
It was only to be expected that many of the world’s refiners would be pinched between low demand for finished products and rising inventories as the pandemic lockdowns continue to Continue Reading
An Exxon Mobil refinery on the outskirts of Melbourne, Australia. A decade ago, Australia was home to seven refineries. Now, it has four. Soon, it could have just one. Covid-19 Continue Reading
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
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
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
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
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
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
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 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
