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
