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Category: Refining

Category:
  • Prices
  • Refining

Atlantic Basin refining margins soar on refinery outages, tight diesel supply

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

Posted On : 18 Oct 2022 Published By : Tom Whipple
Category:
  • Refining

Atlantic basin diesel refining margins hit record as French strikes drag on

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

Posted On : 11 Oct 2022 Published By : Tom Whipple
Category:
  • EU
  • Refining

Europe braces for heavy oil refinery outages amid tight supplies

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

Posted On : 3 Oct 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

Fires, outages and storms boost US refining margins

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

Posted On : 27 Sep 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

Major Fire Breaks Out At BP Refinery In Ohio

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

Posted On : 21 Sep 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

U.S. gasoline prices to keep falling as refiners keep making other products

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

Posted On : 8 Sep 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

Oil Refinery Fire Sparks Fears Of A Fuel Shortage In Four States

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

Posted On : 29 Aug 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

U.S. oil refiners aim to run full-bore, spurning recession fears

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

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

U.S. Refiners See Demand Holding Strong Through Year-End

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

Posted On : 11 Aug 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

American Refiners’ Record Profits Won’t Last

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

Posted On : 26 Jul 2022 Published By : Tom Whipple
Category:
  • Prices
  • Refining

Global gasoline cracks collapse, blow to refiners’ profits

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

Posted On : 25 Jul 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

Top U.S. Refiners Set For 652% Surge In Profits

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

Posted On : 22 Jul 2022 Published By : Tom Whipple
Category:
  • Refining

Big Oil Poised For “Exceptional” Earnings Thanks To High Refining Margins

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

Posted On : 16 Jul 2022 Published By : Tom Whipple
Category:
  • Refining

Chemical Supply Squeeze Imminent As Refiners Prioritize Gasoline

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

Posted On : 15 Jul 2022 Published By : Tom Whipple
Category:
  • Refining

Global refinery runs rise in June, but fail to keep up with demand: IEA

 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

Posted On : 13 Jul 2022 Published By : Tom Whipple
Category:
  • Refining
  • Shell

Shell Sees $1 Billion Gain in Refining on Record Fuel Prices

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

Posted On : 7 Jul 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

EIA: US Refining Capacity Sinks To Near Decade Low

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

Posted On : 22 Jun 2022 Published By : Tom Whipple
Category:
  • Refining
  • Russia

Fire tears through Russian oil refinery near Ukrainian border

 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

Posted On : 22 Jun 2022 Published By : Tom Whipple
Category:
  • Refining

Diesel Price Shock Imminent As Reserves Drop, Refining Lags  

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

Posted On : 21 Jun 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

Biden Tells USA Oil Refiners Record Profits Not Acceptable

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

Posted On : 15 Jun 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

President Biden Looks For Ways To Increase U.S. Refining Capacity

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

Posted On : 11 Jun 2022 Published By : Tom Whipple
Category:
  • Africa
  • Refining

Africa: Shortage of Oil Refineries Haunts Africa As Fuel Prices Rocket – Report

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

Posted On : 8 Jun 2022 Published By : Tom Whipple
Category:
  • Asia
  • Refining

Red-hot Asia diesel margins may peak in June as supplies rise, monsoon nears

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

Posted On : 8 Jun 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

Premature Closure Of Houston Refinery Could Worsen The Fuel Crunch

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

Posted On : 8 Jun 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

Chevron CEO Says No New Refineries In U.S—Ever

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

Posted On : 6 Jun 2022 Published By : Tom Whipple
Category:
  • Refining

Global refiners falter in efforts to keep up with demand

 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

Posted On : 31 May 2022 Published By : Tom Whipple
Category:
  • Refining

Bottleneck Fuels Record-High Gas Prices

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

Posted On : 29 May 2022 Published By : Tom Whipple
Category:
  • Refining

Global Natural Gas Crunch Amplifies U.S. Refining Boom, for Now

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

Posted On : 5 May 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

American Oil Refiners Set For A Blowout Year

 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

Posted On : 28 Apr 2022 Published By : Tom Whipple
Category:
  • Refining
  • Russia

Russia investigates large oil depot fire in region near Ukraine

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

Posted On : 26 Apr 2022 Published By : Tom Whipple
Category:
  • China
  • Refining

For oil refiners, now is the summer of distillate content

 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

Posted On : 21 Apr 2022 Published By : Tom Whipple
Category:
  • China
  • Refining
  • USA

China to surpass US as world’s top refiner in 2022 with 18.8 mil b/d capacity: ETRI

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

Posted On : 14 Apr 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

USA Refinery Run Rate Very High for April

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

Posted On : 11 Apr 2022 Published By : Tom Whipple
Category:
  • Chevron
  • Refining

Chevron, union negotiators to meet over California oil refinery strike

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

Posted On : 9 Apr 2022 Published By : Tom Whipple
Category:
  • Refining
  • Russia

Russian, Belarus refiners cut runs on mounting stocks, sanctions

 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

Posted On : 9 Apr 2022 Published By : Tom Whipple
Category:
  • Refining
  • Russia

Smaller Russian plants likely to run at 50% in April

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

Posted On : 31 Mar 2022 Published By : Tom Whipple
Category:
  • Refining
  • Russia

Russian oil refiners signal deeper cuts to refinery runs amid overstocking

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

Posted On : 31 Mar 2022 Published By : Tom Whipple
Category:
  • Refining
  • Russia

Russia’s energy ministry proposes to defer refinery upgrades due to sanctions: report

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

Posted On : 18 Mar 2022 Published By : Tom Whipple
Category:
  • IEA
  • Refining

IEA revises down global refinery throughput on reduced Russian runs

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

Posted On : 17 Mar 2022 Published By : Tom Whipple
Category:
  • Refining
  • Russia

Russian refineries start to feel impact of buyers shunning oil products

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

Posted On : 5 Mar 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

Oil companies, union reach deal on U.S. refinery workers pact

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

Posted On : 26 Feb 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

U.S. Refinery Outages Are Another Headache For Biden

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

Posted On : 8 Feb 2022 Published By : Tom Whipple
Category:
  • Mexico
  • Refining

Mexico Refinery $3.6B Over Budget

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

Posted On : 22 Jan 2022 Published By : Tom Whipple
Category:
  • Refining

Global refinery closures outweigh new capacity in 2021: IEA

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

Posted On : 19 Jan 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

Cheap Shale Gas Boosts Refining Profits for U.S. Sour Crudes

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

Posted On : 17 Dec 2021 Published By : Tom Whipple
Category:
  • Refining

Motiva restarts crude unit at Port Arthur, Texas, refinery -sources

 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

Posted On : 15 Dec 2021 Published By : Tom Whipple
Category:
  • Asia
  • Refining

Asia’s Oil Refining Renaissance Is Grinding Into Reverse Gear

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

Posted On : 25 Nov 2021 Published By : Tom Whipple
Category:
  • Refining
  • USA

Analysis: U.S. oil refiners bet the farm Biden will back them on biofuels

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

Posted On : 12 Nov 2021 Published By : Tom Whipple
Category:
  • Refining
  • USA

Refiner Marathon warns natgas rally may hurt profits, shares fall

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

Posted On : 3 Nov 2021 Published By : Tom Whipple
Category:
  • Refining

Oil Refiners Under Threat From Natural Gas Crisis

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

Posted On : 22 Oct 2021 Published By : Tom Whipple

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