Refined Products – Page 15

Factbox: Oil refiners shut plants as demand losses may never return

November 11, 2020

Reuters 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 global fuel demand 30% and refiners temporarily idled plants. But consumption has not returned to pre-pandemic levels and lower travel

Exclusive 360 Energy Expert Network Video Interview: CyberX – Securing our energy is not just a critical national security issue

November 10, 2020

We had a great talk about the CyberX’s expertise in industrial and operational technology (OT) security and the recent acquisition by Microsoft. This is a great combination for the worldwide effort to secure energy, in all forms, from potential hackers bent on destruction. This potential threat from terrorists, and hostile governments, bent on imposing their will is a security disaster

Genesis Energy expects up to 50 million in losses due to storms - oilandgas360

Genesis Energy expects up to $50 million in losses due to storms – normally only $8 to $10 million

November 6, 2020

BIC 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 Grant Sims told investors, as reported by Reuters. In a typical year, storms would cost the company about $8 to $10

Shell finalizes sale of Martinez Refinery - oilandgas360

Shell to divest 8 refineries from its portfolio -that will help cashflow

November 3, 2020

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 sites into six high-value energy and chemical parks. The six sites include Deer Park, Texas, U.S.; Norco, Louisiana, U.S.; Pernis,

BP to shut Australia’s largest refinery: Update

October 30, 2020

Argus 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 the region amid weak markets and rising competition from China. All refining activities at Kwinana — Australia’s largest refinery —

Imperial starts operation of cogeneration unit at Strathcona refinery

October 29, 2020

Helps reduce provincial greenhouse gas emissions by approximately 112,000 tonnes annu…

KNPC starts up boilers at Mina Abdullah refinery CFP -oilandgas360

KNPC starts up boilers at Mina Abdullah refinery CFP – Kuwait’s CFP

October 25, 2020

Argus 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 this quarter. Each with a capacity of 380,000 pounds/hour, the boilers will generate the steam needed to operate various units

Second Covid-19 wave adds to European refiners’ woes

October 23, 2020

Argus 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 demand. Covid-19 cases in the UK, France, Germany, Italy, and Spain all registered highs in recent days. France is in

Facing wave of closures, oil refiners turn to biofuels

October 19, 2020

Reuters 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. The shock of the coronavirus epidemic crushed global oil demand and as some producers, including BP, say it might never

Saudi Aramco - committtted 44 bn west coast refinery -oilandgas360

Saudi Aramco, Adnoc committed to $44 bn west coast refinery project: IOC Chairman

October 16, 2020

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 (Saudi Aramco) and Abu Dhabi National Oil Co (Adnoc) are still committed to investing in the planned USD 44 billion west

Petrobras lagging on refinery sales

October 15, 2020

argus Rio de Janeiro, 15 October (Argus) — Brazil’s state-controlled Petrobras only expects to sign one refinery sales agreement by year-end, rather than five as originally targeted, a senior company executive familiar with the process tells Argus. The delay stems from scheduling problems associated with the Covid-19 pandemic, oil market volatility, and a court challenge recently decided in Petrobras’ favor. The refinery divestment

Total’s European refining margin turns negative in 3Q

October 15, 2020

argus London, 15 October (Argus) — Total’s European refining margin slipped into negative territory in July-September, the latest in a series of depressed third-quarter indicators. The outlook for the regional sector remains gloomy. Total’s margin was -$2.70/t (-$0.37/bl) in the third quarter, compared with $14.30/t in the second quarter and $47.40/t a year earlier. It follows similar indications from Spanish integrated

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