Downstream

U.S. Production Down 100 MBOPD in July – EIA

U.S. Production Down 100 MBOPD in July – EIA

The EIA’s Short-Term Energy Outlook shows declining production as prices dropUS Production

The U.S. Energy Information Administration (EIA) released its July Short-Term Energy Outlook (STEO) today, showing lower production in the month of July as prices continue their downward trend. The …

China Grants Crude Imports to Independent Refiners

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 …

August 10, 2015 - 7:02 pm Downstream, International, Oil and Gas 360 Articles
Oil Prices Fall Below $44 as Rigs Continue Climb

Oil Prices Fall Below $44 as Rigs Continue Climb

Oil rig counts climb for third straight week

The total number of rigs actively drilling in the United States rose by ten this week, reaching 884, according to the latest rig count from Baker Hughes (ticker: BHI). The number of …

Source: XOM

Refinery Inputs Reach Record-High 17 Million Barrels per Day

The rolling four-week average of refinery inputs exceed the five-year average every week this year

Gross inputs to U.S. refineries exceed 17 million barrels per day (MMBOPD) in each of the past four weeks, the highest level of refinery inputs

August 7, 2015 - 11:37 am Downstream, Oil and Gas 360 Articles
Downstream Offers Integrated Majors a Ray of Sunshine Amid Stormy Second Quarter

Downstream Offers Integrated Majors a Ray of Sunshine Amid Stormy Second Quarter

International oil majors were burned but also warmed by low oil prices in Q2; and their new projects are moving forward

The second quarter has been tough for international oil majors like ExxonMobil (ticker: XOM), Chevron (ticker: CVX) and Royal …

Refiners Ask EPA to Adjust Renewable Fuel Standards

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 …

July 30, 2015 - 6:50 pm Downstream, Oil and Gas 360 Articles, Regulatory
Source: XOM

Quantum Energy Commits to 40 MBOPD Refinery as Downstream Enjoys Stronger Margins

Partnership with Native Son Holdings set to build refinery in North Dakota

Quantum Energy (ticker: QEGY) and Native Son Holdings announced that they plan to form a joint venture in order to construct and operate a 40,000 barrel per day …

July 28, 2015 - 2:07 pm Commodity Pricing, Downstream, Oil and Gas 360 Articles
European Refiners Looking Forward to Receiving Iranian Crude

European Refiners Looking Forward to Receiving Iranian Crude

Lower prices for Iran’s oil mean better margins for refiners, competition for Russia

Refineries across Europe are anticipating the return of Iranian crude oil to their operations, and the potentially higher margins as added crude pushes prices down further. Approximately …

July 16, 2015 - 7:00 pm Downstream, International, Oil and Gas 360 Articles, OPEC
Higher Gasoline Costs Sent Consumer Price Index Soaring in April - 360

United States Gasoline Prices Lowest Since 2009… Except in California

California gas prices $0.95 above national averages

Nationally, the average price of a gallon of gas is just $2.77. But the average price in California is $3.72, with average prices in the L.A. area even higher at $4.05/gal, the Automobile …

July 14, 2015 - 6:53 pm Downstream, Oil and Gas 360 Articles
U.S. Refinery Capacity Hits 18 Million Barrels per Day

U.S. Refinery Capacity Hits 18 Million Barrels per Day

U.S. refining capacity rose by 0.2% in 2014

Refining capacity in the United States – measured as operable atmospheric crude distillation unit (CDU) capacity – increased by 0.2% in 2014, reaching a total capacity of 18 MMBOPD, according to the

June 25, 2015 - 1:20 pm Downstream, Oil and Gas 360 Articles
Medium Crude Imports Down 45% from 2014

Medium Crude Imports Down 45% from 2014

Bakken, Permian and Eagle Ford replacing Saudi imports of light and medium crudes

Imports of medium-grade crude oil to Gulf Coast refineries were down 45% in the first quarter of 2015 compared with the first quarter of 2014, reports the

June 22, 2015 - 12:27 pm Downstream, International, Oil and Gas 360 Articles
PBF Purchases 189 MBOPD of Refining Capacity

PBF Purchases 189 MBOPD of Refining Capacity

PBF purchases Chalmette Refinery and other assets for $322 million

PBF Energy (ticker: PBF) announced today that its subsidiary has signed an agreement to purchase Chalmette Refining, LLC in New Orleans, Louisiana for $322 million plus working capital including inventory …

First Quarter Refining Profits:  Up 95% from Q1 2014

First Quarter Refining Profits: Up 95% from Q1 2014

Higher crack spreads led to better refining margins for Integrated Oils, but can’t offset their upstream loses

Integrated oil and gas companies saw much higher profits from their refining operations in the first quarter of this year than in Q1 …

Demand for Skilled Workers in Petrochemicals Expected to Peak in 2016

Demand for Skilled Workers in Petrochemicals Expected to Peak in 2016

Petrochemicals will need in excess of 150 thousand skilled workers by next April

Demand for skilled labor in the U.S. chemicals industry is expected to peak in April 2016, according to Daniel Groves, workforce director at the construction Users Roundtable …

May 29, 2015 - 1:35 pm Downstream, Oil and Gas 360 Articles
Refining Margins at Several Year Highs

Refining Margins at Several Year Highs

Lower crude prices and higher demand for gasoline driving higher margins

Gasoline crack spreads in the United States, especially on the U.S. East Coast, have reached several-year highs in recent months. A recent note from the Energy Information Administration (EIA), …

May 20, 2015 - 1:02 pm Downstream, Oil and Gas 360 Articles
Shale Gas Creating Renaissance in U.S. Plastics Manufacturing

Shale Gas Creating Renaissance in U.S. Plastics Manufacturing

Shale gas is making U.S. plastic manufacturing competitive globally

The shale gas revolution is bringing plastic manufacturing back to the United States and making U.S. refiners more competitive globally, reports the American Chemistry Council (ACC). Due largely to plentiful and …

May 14, 2015 - 12:46 pm Downstream, Oil and Gas 360 Articles
If Export Restraints are Removed from U.S. Producers, What can Refiners Expect?

If Export Restraints are Removed from U.S. Producers, What can Refiners Expect?

The EIA released a report showing its expectations for the refining sector based on U.S. oil production and whether or not crude oil export laws are reversed

How increased production and U.S. export laws might affect refiners has been a …

May 11, 2015 - 2:33 pm Downstream, Oil and Gas 360 Articles
Dakota Prairie Refinery Starting Up

Dakota Prairie Refinery Starting Up

Dakota Prairie Refinery Commences Startup Operations

MDU Resources Group, Inc. (MDU) and Calumet Specialty Products Partners, L.P. (CLMT) today announced that the Dickinson, North Dakota-based Dakota Prairie refinery, the first greenfield fuels refinery built in the …

May 4, 2015 - 5:50 pm Downstream, MLPs
Valero Energy, Fueled by Lower Oil Prices, Reports Personal-Best Q1 Earnings

Valero Energy, Fueled by Lower Oil Prices, Reports Personal-Best Q1 Earnings

Expects to Significantly Expand its Midstream Business Long Term

Valero Energy (ticker: VLO), the largest refiner in the United States with throughput capacity of 2.90 MMBOPD, reported net income of $964 million, or $1.87 per share, in its Q1’15 results …

April 28, 2015 - 6:59 pm Downstream, Earnings, Finance, Midstream, Oil and Gas 360 Articles
Russia Strengthening Ties with Vietnam

Russia Strengthening Ties with Vietnam

Russia buys 49% stake in Vietnamese refinery

Gazprom Neft (ticker: GZPFY), the oil arm of Russian state-owned Gazprom (ticker: OGZPY), and Vietnam Oil and Gas Group (PetroVietnam) have signed a series of agreements to strengthen ties between the oil and …

April 8, 2015 - 5:47 pm Downstream, International, Oil and Gas 360 Articles
Benefits to lifting the U.S. Crude Export Ban

Benefits to lifting the U.S. Crude Export Ban

U.S. refiners using most domestic oil in 29 years

Refineries in the United States are relying on domestically produced crude oil now more than any other time since 1986. Domestic production and imports from Canada and Mexico made up 85% …

April 7, 2015 - 6:40 pm Downstream, Oil and Gas 360 Articles
Will the Drilling Slowdown Allow Williston Infrastructure to Catch Up?

Will the Drilling Slowdown Allow Williston Infrastructure to Catch Up?

North Dakota has been the poster child of the United States shale boom, boasting skyrocketing production, high economic growth rates and miniscule unemployment numbers. The discovery and exploitation of the Williston Basin has increased crude output in the state by …

Indian Refiners Diversifying Imports

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 …

March 17, 2015 - 5:55 pm Downstream, International, Oil and Gas 360 Articles
Independent Refiners: Western Refining Reports Q4

Independent Refiners: Western Refining Reports Q4

Western Refining reports fourth quarter results

Western Refining Inc. (ticker: WNR) today reported its fourth quarter 2014 results. The company reported net income of $116.8 million, or $1.19 per diluted share. This represents a 51% increase from the company’s …

February 26, 2015 - 1:10 pm Downstream, Oil and Gas 360 Articles