Downstream

Source: Reuters

Crude prices in Asia jump on robust demand, tight supply

Reuters


SINGAPORE (Reuters) – Asian refiners are paying the highest premiums for Middle East and Russian crude oil in about a year, due to firm demand and more costly imports from the West, industry sources said.

High prices could prompt …

Source: Reuters

EXCLUSIVE Biden considers giving refiners relief from U.S. biofuel laws, sources say

Reuters


NEW YORK -President Joe Biden’s administration, under pressure from labor unions and U.S. senators including from his home state of Delaware, is considering ways to provide relief to U.S. oil refiners from biofuel blending mandates, three sources familiar with …

Source" Reuters

Exxon, union negotiators to meet over U.S. refinery lockout – official

Reuters


HOUSTON – Negotiators for the United Steelworkers union (USW) and Exxon Mobil Corp will meet on Thursday for the first time since the company locked 650 workers out of its Beaumont, Texas, refinery on May 1, said a union …

Source: Reuters

Fire breaks out at Tehran oil refinery; no reports of casualties

Yahoo News


A huge fire has broken out at an oil refinery in the southern part of the Iranian capital Tehran, Iranian state media reported, saying there were so far no reports of casualties.

Iran’s Tasnim news agency said all …

Source: Reuters

Shell weighs shut Louisiana refinery’s future as Baton Rouge firm promotes bid

Reuters


Royal Dutch Shell (RDSa.L) was still evaluating plans for an idled Louisiana oil refinery, the company said on Monday, after a Baton Rouge investor said over the weekend his $1.25 billion offer was not accepted.

American Clean Energy Refining …

Source: Fox Business

Shell to sell interest in Deer Park refinery to partner Pemex

Fox Business


HOUSTON/MEXICO CITY – Royal Dutch Shell agreed on Monday to sell its controlling interest in a Texas refinery to partner Petroleos Mexicanos (Pemex) for about $596 million, the latest move by the European oil major to cut its …

Source: Reuters

Column: Bearish signal for crude as China again draws on inventories

Reuters


LAUNCESTON, Australia  – China is likely to have dipped into its crude oil stockpiles in April, the third time in the past seven months it has done so, a sign that the era of massive inventory builds may be …

Source: Reuters

Exxon rejects contract offer from Texas refinery union: sources

Reuters


HOUSTON – Exxon Mobil Corp on Thursday rejected a contract offer from the United Steelworkers union (USW), two days ahead of a threatened lockout of 650 Texas refinery workers by the energy firm, said people familiar with the matter.…

April 30, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Downstream, People
Source: Reuters

Valero warns of bigger first-quarter loss on costs from Texas deep freeze

Reuters


U.S. refiner Valero Energy Corp on Thursday warned that its first-quarter loss would exceed the previous three months, joining the ranks of energy firms hit hard by the severe winter storm in Texas in February.

The cold wave in …

Source: Reuters

Gasoline demand may never recover from pandemic, says IEA

Reuters


LONDON- Gasoline demand may never recover to pre-pandemic levels, the International Energy Agency (IEA) said on Wednesday, with increased use in developing countries offset by rising fuel efficiency and a switch to electric vehicles in wealthy nations.

In last …

Source: Reuters

Pump prices join oil’s wild ride but risk slamming brakes on recovery

Reuters


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 …

Source: Reuters

Oil demand drag takes toll on tankers, U.S. refiners

Reuters


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

Source: Reuters

Column: Global oil inventories to become tight by mid-2021

Reuters


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 …

March 11, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Shell pushes back Deer Park, Texas, refinery restart to March 13: sources

Reuters


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 …

Source: Reuters

U.S. crude output falls 10%, refinery runs drop to 2008 low amid Texas freeze – EIA

Reuters


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 …

February 25, 2021 - 2:00 pm Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Lack of overhauls at U.S. refiners could stall industry recovery

Reuters


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 …

February 5, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Exclusive: Private equity firm bids for Canada’s idled Come-by-Chance refinery

Reuters


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 …

Source: Reuters

U.S. refiners talk up renewable projects after a year of lousy fuel demand

Reuters


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 …

Valero Energy reports 2020 fourth quarter and full year results and declares regular cash dividend on common stock

Valero Energy reports 2020 fourth quarter and full year results and declares regular cash dividend on common stock

Oil and Gas 360


  • Reported a net loss attributable to Valero stockholders of $359 million, or $0.88 per share, for the fourth quarter and $1.4 billion, or $3.50 per share, for the year.

Valero Energy reports 2020 fourth quarter and full year results and declares regular cash dividend on common stock- oil and gas 360

  • Reported an adjusted net loss attributable to
Source: Reuters

U.S. oil refiners set for worst earnings quarter of the pandemic

Reuters


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 …

January 25, 2021 - 10:00 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Exclusive: Iraq cuts crude oil supplies for most Indian refiners in 2021 – sources

Reuters


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 …

January 21, 2021 - 11:00 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Saudi Aramco cuts February crude supply to some Asian refiners – sources

Reuters


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 …

Source: Reuters

Exclusive: BP gives Caribbean refinery more time to hit operating targets – sources

Reuters


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 …

January 7, 2021 - 12:00 pm Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Citgo plans Q4 2021 overhaul at Corpus Christi refinery; may be postponed

Reuters


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 …

December 22, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Caribbean refinery sells first product after yearlong delay

Caribbean refinery sells first product after yearlong delay

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, …

December 15, 2020 - 8:16 am Downstream, International
Source: Reuters

U.S. gasoline demand during Thanksgiving week lowest since 1997: OPIS

Reuters


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 …

December 7, 2020 - 1:30 pm Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Shell Convent, Louisiana, refinery workers get severance package details – sources

Shell Convent, Louisiana, refinery workers get severance package details – sources

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 …

November 28, 2020 - 5:47 am Downstream, Jobs
Source: Houston Chronicle

Shell may permanently shut Louisiana refinery – A “no reply” from Shell spokesman

BIC

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 …

November 24, 2020 - 8:13 am Crude Oil News, Downstream
Indian Prime Minister Narendra Modi (Photo: Prachatai/Flickr)

Modi says India set to double oil refining capacity in 5 years, earlier than expected – just part of the “balanced diet of power”

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

US will fall behind China as world’s largest oil refiner in 2021

US will fall behind China as world’s largest oil refiner in 2021

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 …

November 22, 2020 - 5:32 am Downstream, International