Downstream

Source: Reuters

Top U.S. oil refiner, Marathon Petroleum, begins widespread job cuts -sources

 


HOUSTON, Sept 29 (Reuters) – Marathon Petroleum Corp MPC.N, the largest U.S. oil refiner, on Tuesday began cutting employees at its U.S. operations as the COVID-19 pandemic further narrowed global demand for motor fuels, people familiar with plant …

September 29, 2020 - 9:20 pm Crude Oil News, Downstream, Economy, Jobs
Source: Reuters

Oil refiners worldwide struggle with weak demand, inventory glut

Reuters


NEW YORK/LONDON/MELBOURNE- Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery …

September 21, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Aramco, ZPC pursue delayed China refinery investment

Aramco, ZPC pursue delayed China refinery investment

Argus


 State-controlled Saudi Aramco is facing delays closing its planned purchase of a stake in China’s biggest private-sector refining complex, but remains committed to the deal despite pullbacks elsewhere.

Aramco signed an initial agreement in October 2018 to buy a …

September 17, 2020 - 6:49 am Crude Oil News, Downstream, Energy News, Finance, International
Hurricane’s heavy rains to dampen fuel demand, offshore sites closed

Hurricane’s heavy rains to dampen fuel demand, offshore sites closed

BIC


More than a fourth of U.S. Gulf of Mexico offshore oil and gas production remains shut because of Hurricane Sally, which is creeping inland along the Alabama-Florida border, causing life-threatening flooding and cutting fuel demand in the U.S. Southeast, …

NNPC gives reasons for shutting down all refineries

NNPC gives reasons for shutting down all refineries

Energy Mix


The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, says the four oil refineries in the country have been shut down in Port Harcourt, Warri and Kaduna.

Kyari said this on Channels Television’s Politics Today …

September 13, 2020 - 6:53 am Crude Oil News, Downstream, International
Why The Oil Industry’s $400 Billion Bet On Plastics Could Backfire

Why The Oil Industry’s $400 Billion Bet On Plastics Could Backfire

RoyalDuch Shell


Oil & Gas 360 Publishers Note: Very interesting opinion piece around the oil based manufacturing of plastics.  While the major oil companies are investing in renewable energy, it seems that they are not forgetting the core demand for

CITGO Lake Charles Refinery Update

CITGO Lake Charles Refinery Update

HOUSTON , Aug. 28, 2020 /PRNewswire/ — CITGO Petroleum Corporation today reported n…

August 28, 2020 - 2:26 pm Downstream, Press Releases
Source: Reuters

SW Louisiana starts post-Laura recovery: Update – refineries in the path

Argus


Houston, 27 August (Argus) — Industries from Beaumont, Texas, to Lake Charles, Louisiana, are assessing damage and beginning recovery from Hurricane Laura today, the most powerful hurricane on record to hit the region.

The storm came ashore near Cameron, …

August 27, 2020 - 2:00 pm Downstream, Energy News, Popular 2
U.S. refineries respond to record-low demand by decreasing inputs to certain downstream units

U.S. refineries respond to record-low demand by decreasing inputs to certain downstream units

EIA


Starting in mid-March 2020, transportation fuel demand in the United States decreased to record lows as a result of reduced economic activity and stay-at-home orders aimed at slowing the spread of the 2019 novel coronavirus disease (COVID-19). In response …

Phillips 66 Plans to Transform San Francisco Refinery into World’s Largest Renewable Fuels Plant

Phillips 66 Plans to Transform San Francisco Refinery into World’s Largest Renewable Fuels Plant

Conversion is expected to reduce the plant’s greenhouse gas emissions by 50% P…

August 12, 2020 - 12:25 pm Corporate Social Responsibility, Downstream, ESG, Press Releases
National Fuel Completes Acquisition of Shell’s Integrated Upstream and Midstream Assets in Pennsylvania

National Fuel Completes Acquisition of Shell’s Integrated Upstream and Midstream Assets in Pennsylvania

WILLIAMSVILLE, N.Y., July 31, 2020 (GLOBE NEWSWIRE) — National Fuel Gas Company (NYSE: NFG…

Refiner Phillips 66 posts smaller-than-expected loss on higher retail margins

Refiner Phillips 66 posts smaller-than-expected loss on higher retail margins

Reuters


Phillips 66 posted a smaller-than-expected loss on Friday as the refiner’s retail marketing business, which buys and resells petroleum products, benefited from a decline in prices following the coronavirus crisis.

The unit buys refined products from others and resells …

Aramco plans downstream shake up

Aramco plans downstream shake up

EnergyVoice


Saudi Aramco has launched a reorganisation of its downstream business with the aim of maximising value.

The company expects to complete the work by the end of the year.

Aramco Downstream’s senior vice president Abdulaziz M. Al Gudaimi said …

U.S. refinery capacity sets new record as of January 1, 2020

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%

Sasol Ethan Cracker Louisiana

Sasol Announces Beneficial Operations of Fifth and Sixth Lake Charles Chemicals Project Facilities

HOUSTONJune 23, 2020 /PRNewswire/ — Sasol today announced that the Guerbet alcohol unit at our Lake Charles Chemicals Project (LCCP) achieved beneficial operations on 19 June 2020.

June 23, 2020 - 4:38 am China, Downstream, International, Press Releases
Saudi Aramco completes SABIC acquisition

Saudi Aramco completes SABIC acquisition

Oil & Gas 


The national oil company purchased 2.1 billion shares of SABIC

Saudi Aramco has completed its acquisition of Saudi chemicals giant SABIC, Reuters reported. The national oil company purchased 2.1 billion shares (70%) of SABIC on Sunday,

Source: Reuters

Falling Latam demand deprives U.S. refiners of top customers

Reuters


MEXICO CITY/NEW YORK  – Latin American demand for refined products is rapidly drying up as the coronavirus pandemic worsens, leaving U.S. refiners without their main export destination.

The crisis has nearly shut down worldwide air travel and fuel demand, …

Source: Reuters

Global oil refiners to deepen output cuts as coronavirus destroys demand

Reuters


SINGAPORE/NEW DELHI/SEOUL/HOUSTON – Oil refiners from Texas to Thailand are bracing for deeper output cuts, bruised by an unprecedented demand shock as more countries lock down and restrict travel to contain the spread of the coronavirus.

Global fuel demand …

Source: Reuters

Shell, other oil companies seek less Saudi crude in April due to weaker demand -sources

Reuters


Several European and Nordic oil refiners are taking less crude from Saudi Arabia in April, industry sources said, suggesting a lack of demand for the extra supplies the country has offered as it seeks to boost market share.

The …

Source: Reuters

Refiner Phillips 66 cuts spending forecast by 18%, commits to dividend

Reuters


Refiner Phillips 66 (PSX.N) on Tuesday cut its 2020 spending forecast by about 18% and assured investors their dividend was secure even as the coronavirus outbreak and a price war between Saudi Arabia and Russia threaten the …

Source: Houston Chronicle

Six pipeline companies cut $1.9 billion from their 2020 budgets

Houston Chronicle

 


Six pipeline operators have cut a combined $1.9 billion from their 2020 budgets as record low oil prices and weakened demand from the coronavirus dampens plans for new projects, a new research note from Houston energy investment …

Source: Reuters

U.S. diesel cash prices latest to slump from coronavirus fallout

Reuters


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 …

March 23, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

U.S. oil and gas industry sees no supply chain threat from coronavirus: API

Reuters


WASHINGTON – The American Petroleum Institute oil and gas industry group said on Wednesday that it does not see a significant threat to the U.S. energy supply chain from the coronavirus pandemic.

Oil and gas companies are implementing contingency …

Source: Reuters

Marathon Petroleum names midstream boss as new CEO, to retain unit

Reuters


Marathon Petroleum Corp on Wednesday tapped the head of its midstream business, Michael Hennigan, as its new chief executive officer and said it will retain the unit despite demands from shareholder Elliott Management to separate it.

Hennigan replaces company …

Talks break off between Unifor and Co-op

Talks break off between Unifor and Co-op

Talks break off between Unifor and Co-op

February 1, 2020 - 11:30 am Canada News, Downstream, International, Press Releases
Source: Houston Chronicle

Gulf Coast oil and gas expansion will generate half a billion annual tons of emissions in U.S.: report

Houston Chronicle


More than half a billion tons of additional greenhouse gas emissions per year — equivalent to 8 percent of total U.S. emissions — may be generated by new oil, gas and petrochemical facilities in Texas and Louisiana, University

January 15, 2020 - 3:00 pm Closing Bell Story‎, Downstream, Energy News, Midstream
CVR Energy Announces Pricing of $1.0 Billion Private Placement of 5.250% Senior Notes due 2025 and 5.750% Senior Notes due 2028

CVR Energy Announces Pricing of $1.0 Billion Private Placement of 5.250% Senior Notes due 2025 and 5.750% Senior Notes due 2028

CVR Energy Announces Pricing of $1.0 Billion Private Placement of 5.250% Senior Notes due 2025 and 5.750% Senior Notes due 2028

January 10, 2020 - 4:56 pm Downstream, Finance, Press Releases
Source: Houston Chronicle

Shell brings fuel to Mexico in push for 15% of retail market

Houston Chronicle


Royal Dutch Shell Plc is seeking a bigger share of Mexico’s fuel market, even as regulatory changes make it harder for foreign companies to compete.

The Anglo-Dutch oil major, which already owns about 200 gasoline stations in 12 …

January 9, 2020 - 3:45 pm Closing Bell Story‎, Crude Oil News, Downstream, Energy News
RasGas Train 6 began liquified natural gas (LNG) production in 2009 and was joined by RasGas Train 7 in early 2010. ExxonMobil has an interest in all of Qatar's operating LNG trains, which have a total capacity of over 60 million tonnes per year.

ExxonMobil responds to verdict in suit by New York Attorney General

Exxon


ExxonMobil today issued the following statement in response to the verdict from the Supreme Court of the State of New York:

“Today’s ruling affirms the position ExxonMobil has held throughout the New York Attorney General’s baseless investigation. We provided …

FILE PHOTO: India's Prime Minister Narendra Modi speaks during the 2019 United Nations Climate Action Summit at U.N. headquarters in New York City, New York, U.S., September 23, 2019. REUTERS/Carlo Allegri

India’s Modi says Saudi to invest in India’s downstream oil, gas projects

Reuters


Prime Minister Narendra Modi said on Tuesday Saudi Arabia will invest in downstream oil and gas projects in India as part of a strategic partnership between the two countries, a move that would also help the world’s top oil …

October 29, 2019 - 8:35 am Closing Bell Story‎, Downstream, Energy News, International