LONDON/NEW YORK/SINGAPORE – With oil prices surging as producers curb supply, fuel prices in many countries have hit multi-year and even all-time highs despite the pandemic knocking demand by millions of barrels per day.
The high prices at the …
LONDON/NEW YORK – 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, shipping and trade sources say.
The
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 …
HOUSTON – Royal Dutch Shell Plc pushed back the restart of its 318,000 barrel-per-day (bpd) joint-venture Deer Park, Texas, refinery to March 13, said sources familiar with plant operations on Monday.
Shell spokesman Curtis Smith declined comment.
Shell had …
U.S. crude oil production dropped by more than 1 million barrels per day last week during Texas’s deep freeze, equalling the largest weekly fall ever, and refining runs tumbled to levels not seen since 2008, the Energy Information Administration …
NEW YORK/HOUSTON – U.S. oil refiners are predicting a strong recovery in fuel demand in the second half of this year as vaccination rates increase and workers are expected to resume commuting and taking vacations.
But oil processors appear …
Private equity firm Cresta Fund Management has offered to buy a majority stake in North Atlantic Refining Ltd (NARL), owner of the idled Canadian 135,000 barrel-per-day Come-by-Chance refinery, according to a letter reviewed by Reuters.
The Dallas-based firm said …
Following a year of grim losses amid pandemic lockdowns that dented demand for fuel as people stuck close to home, the largest U.S. independent refiners are promoting plans to boost production of renewable fuels.
Renewable fuels represent a silver …
NEW YORK – 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 associated with blending of renewable fuels …
NEW DELHI – Iraq has reduced annual supplies of Basra crude oil to several Indian refiners by up to 20% for 2021, industry sources said, in a rare move by OPEC’s second-largest producer which is trying to meet its …
SINGAPORE/NEW DELHI – Top oil exporter Saudi Arabia has cut supplies of February-loading crude for some Asian buyer by up to a quarter while meeting requirements of at least four others, several refinery and trade sources with knowledge of …
NEW YORK – BP Plc has given the operator of a Caribbean refinery more time to fully restart and retain its crude oil supply agreement after the plant failed to hit operating targets last year, according to people familiar …
HOUSTON -Citgo Petroleum Corp plans an overhaul at its 167,500 barrel-per-day (bpd) Corpus Christi, Texas, refinery in the fourth quarter of 2021, the company said on Monday.
The fourth-quarter 2021 turnaround could be rescheduled, Citgo said.
Sources told Reuters …
BOE
Caribbean refinery Limetree Bay Ventures sold the first oil product to a buyer in the Gulf Coast on Monday, according to a shipbroking source and Refintiv Eikon data, nearly a year after the long-shuttered facility was expected to restart, …
NEW YORK – U.S. gasoline consumption fell during the Thanksgiving holiday week to the lowest in more than 20 years, said OPIS, an IHS Markit company, as coronavirus cases surged and government officials urged residents to stay home.
Since …
Reuters
Hourly employees at Royal Dutch Shell Plc’s Convent, Louisiana, refinery, scheduled for permanent closure as early as next week, received details this week of the severance package negotiated by their union and Shell, three people familiar with the agreement …
Royal Dutch Shell PLC may begin the permanent shutdown of its 211,146 barrel-per-day Convent, Louisiana, refinery early next week, people familiar with plant operations said on Monday to Reuters.
Shell announced on Nov. 5 the refinery, located 57 miles …
Energyworld
Oil & Gas 360 Publishers Note: Narendra Modi, Prime Minister of India, again is demonstrating that his power policies are using the “balanced diet of power” to include fossil and renewable sources. His leadership in power principals should be …
Bloomberg
Earlier this month, Royal Dutch Shell Plc pulled the plug on its Convent refinery in Louisiana. Unlike many oil refineries shut in recent years, Convent was far from obsolete: it’s fairly big by U.S. standards and sophisticated enough to …
Oil refiners are permanently closing processing plants in Asia and North America and facilities in Europe could be next because of uncertain prospects for a recovery in fuel demand after the coronavirus pandemic cut consumption.
The pandemic initially cut …
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Genesis Energy LP said it expects to lose as much as $50 million this year due to a battery of storms that hit the U.S. Gulf of Mexico and forced lengthy offshore oil and gas production shut-ins, Chief Executive …
BIC
Shell plans to reduce its refinery portfolio to six sites from 14 by 2025, the company said on Thursday in its third-quarter results announcement for 2020.
The company said it will transform its refining portfolio from the current 14 …
Adds details of crude imports to Kwinana in sixth paragraph
Sydney, 30 October (Argus) — BP is to convert its 146,000 b/d Kwinana refinery in Western Australia (WA) to an import terminal, in the latest downstream closure to hit …
Helps reduce provincial greenhouse gas emissions by approximately 112,000 tonnes annu…
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Dubai, 25 October (Argus) — Kuwait’s state-owned refiner KNPC has announced the start-up of six boilers at its 265,000 b/d Mina Abdullah refinery – another step towards the planned completion of its long-delayed $16bn Clean Fuels Project (CFP) later …
London, 23 October (Argus) — Europe is becoming engulfed by a second wave of Covid-19, triggering fresh travel restrictions and pulling down transport fuel margins. This makes for a bleak outlook for regional refiners already struggling with low products …
LONDON/NEW YORK – European and U.S. oil refineries face a wave of closures due to plateauing fuel demand, tightening environmental rules and overseas competition, prompting some owners to opt for an easier alternative – converting plants to produce biofuels.…
EnergyWorld
State-owned IOC, Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) together with Saudi Aramco and Adnoc plan to set up a 60 million tonnes refinery-cum-petrochemical complex on Maharashtra coast
New Delhi: Saudi Arabian Oil Co (…
