Post Tagged with: "refineries"
Column: Global oil inventories to become tight by mid-2021
LONDON – Global refineries will increase crude processing sharply over the next six months to stabilise stocks of fuels such as gasoline and diesel – even if substantial coronavirus controls remain on travel and service sector businesses.
The prospective …
Gasoline prices hit nine-month high as refiners make further production cuts
NEW YORK – U.S. gasoline prices hit a nine-month peak as drivers took to the roads on holiday travel, crude oil prices kept climbing and refiners further cut fuel production due to weak margins.
Prices at …
Oil industry shuts platforms, rigs, refineries as storm hits
The energy industry braced for catastrophic storm surges and winds as Hurricane Laura cut a dangerous path across the coastlines of Texas and Louisiana, making landfall early Thursday.
Oil and gas producers evacuated platforms and rigs in …
Crude oil or cooking oil? For some U.S. refiners, it’s now a choice
NEW YORK – Refiners have always produced fuel using crude oil. Now some are using grease.
A slump in demand for gasoline since the onset of the coronavirus pandemic has several refining companies accelerating their plans to retrofit facilities …
Hurricane Laura poses biggest storm threat to U.S. oil output in 15 years
HOUSTON – The U.S. energy industry on Tuesday was preparing for a major hurricane strike, cutting crude production at a rate approaching the level of 2005’s Hurricane Katrina and halting oil refining at plants along the Texas-Louisiana coast.
Officials …
Oil gains on storm-hit U.S. output and COVID-19 treatment hopes
LONDON- Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on signs of progress in development of a COVID-19 treatment.
Brent crude LCOc1 was up …
OPEC+ hits the refinery wall: John Kemp
LONDON – Fuel traders and refiners are becoming more pessimistic about the outlook for the global economy and transportation for the rest of this year, even as the crude producers in OPEC+ try to push oil prices higher.
OPEC+ …
U.S. refinery capacity sets new record as of January 1, 2020
EIA
Oil & Gas Publishers Note: Our 360 team has covered the refinery capacity news. The key take away is; “U.S. Gulf Coast, which is home to about half of U.S. refining capacity, used imported crude oil for only 28% …
Column: Hedge funds turn bullish on crude, remain cautious on fuels
LONDON – Hedge funds continue to bet on a recovery in oil prices, but their bullishness is concentrated on crude, especially U.S. crude, while refined fuel markets are expected to take longer to tighten.
Hedge funds and other money …
U.S. diesel cash prices latest to slump from coronavirus fallout
NEW YORK – U.S. ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week, after refiners boosted production in a bid to flee poorer margins for other products …
U.S. crude stockpiles jump sharply as refiners cut activity: EIA
Source: Reuters
(Reuters) – U.S. crude oil stockpiles rose sharply last week as refineries cut output and exports dropped, while refined products extended a multi-week drawdown, the Energy Information Administration said on Wednesday.
Crude inventories rose by 7.9 million …
Houston Refinery Slowdown May Continue for A Week
From Reuters
Lyondell Basell Industries may keep production cut at its 263,776 barrel-per-day (bpd) Houston refinery for a week because of constrained logistics, Gulf Coast market sources said on Friday.
Royal Shell Plc plans to increase production on April 3 …
If You Can’t Pipe It, Refine It: Alberta Seeks Oil Glut Solution
From Bloomberg
What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new refinery for the province, may be on its way to finding out.
In 2018, surging crude production in the …
Chinese Production Declining As Domestic Demand Ramps Up
Chinese production continues to fall due to aging assets as demand grows
Demand for crude oil at Chinese refineries continues to grow as the country’s aging oil properties slow production. Chinese production fell the most month-over-month since November 2011 in …
United States, Mexico Integrate Energy Industries with Crude Oil Swaps
Mexico’s rapidly changing oil and gas industry took another step forward last month, reaching an agreement with the United States Bureau of Industry and Security to swap crude oil depending on its respective grades. U.S. refineries, particularly on the Gulf …
China Grants Crude Imports to Independent Refiners
Allowing independent refiners to import could boost demand
China’s Ministry of Commerce announced today that it will grant licenses to two independent refineries to directly import crude oil as the country works to allow more room for independent players in …
Refiners Ask EPA to Adjust Renewable Fuel Standards
Refiners say making them the obligated party for fuel blending is “misguided”
Independent refiners are asking the Environmental Protection Agency (EPA) to shift responsibility for complying with biofuel programs from refiners to fuel blenders. Delta Airlines’ (ticker: DAL) Monroe Energy …
Indian Refiners Diversifying Imports
Refineries in India are importing oil from more varied sources in order to diversify supply
Indian refineries continue to reduce imports from traditional markets like Saudi Arabia and Iran and have stepped up purchasing from other markets, including Mexico, Iraq …
Refinery Strikes May Lead to Market Disruptions
Gasoline Prices Continue Edging Up
As if the dwindling rig counts, record inventories and falling temperatures weren’t enough for the oil and gas industry, another complication is arising at the tail-end of the system. Strikes spearheaded by the United Steelworkers …
UPDATE: U.S. Oil Refinery Strikes
Negotiations have resumed between Shell and union leaders
Negotiations resumed today between Royal Dutch Shell and union leaders as they work to solidify a new contract for workers at 72 oil refineries around the United States. Starting Sunday, the United …
Refineries, Gasoline Prices Experiencing the Silver Lining of Commodity Environment
United States refineries are running at utilization rates well above 90%, but don’t count them as part of the oil and gas industry being squeezed in the current commodity market. The Energy Information Administration (EIA) still expects domestic production to …