Downstream Archives - Oil & Gas 360

Oil & Gas 360 Series: The new energy shock: How the U.S.–Iran conflict is hitting fuel markets- oil and gas 360

The new energy shock, Part 1: How the U.S.–Iran conflict is hitting fuel markets: by Oil & Gas 360

March 31, 2026

(By Oil & Gas 360) – While crude oil grabs the headlines, the real pressure point in the U.S., Iran conflict is showing up downstream, in the fuels that actually power economies. Gasoline, diesel, and jet fuel markets are tightening faster and more unevenly than crude, revealing a different kind of energy shock that is driven by logistics, refining constraints,

From Vision to Action: PRC Europe 2025 Sparks Industry Transformation

May 22, 2025

(Oil & Gas 360) – The energy epicentre of Europe shifted to Milan on 19-21 May as PRC Europe 2025 brought together the leaders from the downstream sector. Supported by the Host Sponsor, Eni S.p.A., and Regional Partners including Technip Energies, Sonatrach Raffineria Italiana S.r.l., Wood and Saras S.p.A., the Congress united specialists to forge partnerships and develop solutions advancing the

US refiners’ Q2 profits fall on low margins, soft fuel demand

July 24, 2024

Yahoo Finance NEW YORK – U.S. oil refiners are expected to report sharply lower second quarter earnings from a year ago after a listless summer driving season that weakened refining margins, energy analysts said. Refiners ramped up processing capacity in the three months ended June 30 to 93.5%, compared with 91% in the prior-year period, to meet an expected spike

Record US summer heat, hurricanes could roil fuel prices as oil refiners sweat

July 8, 2024

Reuters NEW YORK – A double whammy of record heat and hurricanes should test U.S. refiners’ resilience in coming weeks, raising the risk of extremely volatile fuel prices in the middle of the peak travel season, analysts said. The Atlantic hurricane season from June through November is an annual threat for U.S. refineries. Half of the country’s over 18-million-barrel-per-day refining

Court hearing on Citgo auction could be delayed until September

July 1, 2024

Oil Price The court officer who oversees the auction of Venezuela’s PDV Holding, the parent company of refiner Citgo Petroleum, has asked a Delaware court to postpone the hearing on the winning bids by two months until September 19, to have more time to evaluate the bids and negotiate a sales agreement. The deadline for submitting binding bids for Citgo’s

Mexico’s new Pemex refinery still needs important work, is far from ready, sources say

June 24, 2024

BOE Report Mexican state energy company Pemex is unlikely to produce any commercially viable motor fuels at its new Olmeca refinery before the end of the year, five sources said, despite pressure that it should be ready before the outgoing president’s term ends. President Andres Manuel Lopez Obrador, a resource nationalist, inaugurated the 340,000-barrel-per-day refinery in July 2022 in his

US refining margins slump as fuel stocks climb: Kemp

June 13, 2024

BOE Report U.S. oil refineries have been processing petroleum at the fastest rate for the time of year since before the pandemic, but rising fuel inventories have begun to weigh on crack spreads and likely signal a slowdown ahead. Refineries processed 17.5 million barrels per day (b/d) of crude and other feedstocks over the week ending on June 7, the

Analysis-US refiners reward shareholders with big returns despite softer Q1 profits

May 20, 2024

U.S. News NEW YORK (Reuters) – Major U.S. fuel makers returned billions in capital to shareholders in the first quarter and boosted share repurchase programs, even as refining margins softened from recent records and utilization rates fell. Three of the biggest U.S. independent oil refiners – Marathon Petroleum, Phillips 66, and Valero Energy – earned combined adjusted profits of $2.93

Marathon Petroleum Q1 earnings and revenue beat estimates

April 30, 2024

Oil Price Marathon Petroleum Corp (NYSE: MPC) reported on Tuesday higher-than-expected earnings and revenues for the first quarter despite lower refining margins and profits compared to the same period last year. Marathon Petroleum’s first-quarter net income came in at $937 million, or $2.58 per diluted share, one of the biggest U.S. refiners said today. The earnings per share were slightly higher than

U.S. refiner Valero Energy beats profit forecasts in Q1

April 25, 2024

Oil Price One of the largest U.S. refiners, Valero Energy (NYSE: VLO), saw its adjusted net income more than halve in the first quarter compared to a year earlier, but earnings nevertheless beat the analyst consensus estimate amid tight crude supplies at the start of this year. Valero opened the earnings reporting season on Thursday, announcing an adjusted net income of $1.3

Enterprise receives approval to build Texas deepwater oil port as exports soar

April 10, 2024

World Oil (Bloomberg) – Enterprise Products Partners overcame the last regulatory hurdle to build a proposed deepwater oil port off the coast of Texas aimed at helping record oil exports to flow to markets in Asia and Europe. The United States Maritime Administration issued a license for the Sea Port Oil Terminal, which will allow Enterprise to move forward with

US Gulf Coast heavy crude oil prices firm as supplies tighten

April 9, 2024

Yahoo Finance HOUSTON – Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add to rising gasoline prices. Refineries along the Gulf Coast, which account for more than 55% of total U.S. refining capacity, are geared to run medium

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