refineries – Oil & Gas 360

U.S. steps up sanctions on Chinese imports of Iranian oil

July 31, 2025

(Oil Price)– The U.S. has sanctioned a fourth oil import terminal in China for receiving Iranian oil cargoes as the State Department expanded sanctions against entities involved in trade with Iran. The U.S. Department of State designated a fourth China-based crude oil and petroleum products terminal, Zhoushan Jinrun Petroleum Transfer Co Ltd, as it “has a demonstrated pattern of accepting Iranian crude

Supply crunch could send California’s gas prices past $8

May 14, 2025

(Oil Price) – On the heels of my recent article outlining how California’s unique fuel regulations — not corporate price gouging — are driving up gasoline prices in the state, new developments have added urgency to that conversation. On May 6, California Senate Minority Leader Brian W. Jones (R-San Diego) sent a letter to Governor Gavin Newsom sounding the alarm over what could become an

Weak refinery, export demand weakens prices for Midland crude along Texas coast

March 6, 2025

(Investing) – HOUSTON – The price spread between WTI Midland crude in West Texas and Houston has narrowed this year as cold weather hurt Permian production, driving up prices, but weaker refinery and export demand on the U.S. Gulf Coast pressured that market lower. The spread between the two pricing points narrowed to 23 cents in March, the lowest since November

U.S. fuel prices surge on refinery maintenance and outages

February 17, 2025

(Oil Price) – U.S. gasoline prices have resumed their uptrend, with AAA reporting the national average at $3.161 per gallon of regular compared to $3.139 a week ago and $3.115 a month ago. The national average price of diesel has increased 0.8 cents and now stands at $3.632 per gallon. “The national average has inched higher, driven primarily by sharp gas price increases

IEA’s mid-year report suggests a bottom for oil prices

September 30, 2024

(Oil & Gas 360) – While oil demand continues to grow globally, its trajectory has been leveling somewhat, according to the International Energy Administration (IEA) in its World Oil Market Report released in September. It says the 800,000 barrels a day (bbl/d) increase for the first half of 2024 is the slowest growth rate since the Covid year of 2020;

Exxon, Shell refineries resume Gulf Coast operation

September 13, 2024

Oil Price Refineries that had to dial down operations ahead of Hurricane Francine’s landfall are starting to reopen, with significant damages unlikely, according to a Reuters report. Exxon, which had cut operation rates at its Baton Rouge refinery to just a fifth of capacity, had now brought the refinery back online. “Our Baton Rouge area facilities are operating as normal. We

Power outages hinder Hurricane Beryl recovery, delay oil infrastructure restarts

July 10, 2024

BOE Report About 1.7 million customers remained without power in Texas on Wednesday morning, two days after Hurricane Beryl made landfall, as progress to restore power was slow during the night, hampering efforts to quickly restart critical oil infrastructure. The storm made landfall as a Category 1 hurricane on Monday near the coastal town of Matagorda, about 100 miles (160

Petrobras braces for attacks on refineries

January 9, 2023

Oil Price Brazil’s state oil major Petrobras has stepped up security at its refineries in response to threats of attacks on the infrastructure, Reuters has reported, citing unnamed sources. Source: Reuters The threats come as supporters of Brazil’s previous president, Jair Bolsonaro, stormed Brazil’s Congress, the presidential palace, and the Supreme Court this weekend. The riots first erupted following the narrow victory

ACCF study: U.S. petroleum export ban would negatively affect refineries, employment, GPD

July 22, 2022

World Oil As the White House and Congress weigh policy levers to provide relief to consumers from rising gas prices, a proposed ban on petroleum exports has become part of the discussion. A new study released by the American Council for Capital Formation examines the short-to-medium term logistics, pricing, and economic impacts of a complete ban on U.S. petroleum product exports. It concludes

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

March 11, 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 rise in processing and consequent draw down in crude inventories in the second and especially third quarters is what has

Gasoline prices hit nine-month high as refiners make further production cuts

January 4, 2021

Oil and Gas 360 NEW YORK – U.S. gasoline prices hit a nine-month peak as drivers took to the roads on holiday travel, crude oil prices kept climbing and refiners further cut fuel production due to weak margins. Prices at the pump topped $2.25 a gallon this week, according to the American Automobile Association, the highest since March when COVID-19

Oil industry shuts platforms, rigs, refineries as storm hits

August 27, 2020

Fox Business The energy industry braced for catastrophic storm surges and winds as Hurricane Laura cut a dangerous path across the coastlines of Texas and Louisiana, making landfall early Thursday. Oil and gas producers evacuated platforms and rigs in the Gulf of Mexico and companies shut down refineries in the storm’s path. Many had already done so while preparing for Tropical Storm Marco.

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