Post Tagged with: "refineries"

Source: Fox Business

Oil industry shuts platforms, rigs, refineries as storm hits

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 …

Source: Reuters

Crude oil or cooking oil? For some U.S. refiners, it’s now a choice

Reuters


NEW YORK – Refiners have always produced fuel using crude oil. Now some are using grease.

A slump in demand for gasoline since the onset of the coronavirus pandemic has several refining companies accelerating their plans to retrofit facilities …

August 27, 2020 - 9:32 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Hurricane Laura poses biggest storm threat to U.S. oil output in 15 years

Reuters


HOUSTON  – The U.S. energy industry on Tuesday was preparing for a major hurricane strike, cutting crude production at a rate approaching the level of 2005’s Hurricane Katrina and halting oil refining at plants along the Texas-Louisiana coast.

Officials …

August 26, 2020 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil gains on storm-hit U.S. output and COVID-19 treatment hopes

Reuters


LONDON- Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on signs of progress in development of a COVID-19 treatment.

Brent crude LCOc1 was up …

Source: Reuters

OPEC+ hits the refinery wall: John Kemp

Reuters


LONDON  – Fuel traders and refiners are becoming more pessimistic about the outlook for the global economy and transportation for the rest of this year, even as the crude producers in OPEC+ try to push oil prices higher.

OPEC+ …

July 17, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News
U.S. refinery capacity sets new record as of January 1, 2020

U.S. refinery capacity sets new record as of January 1, 2020

EIA


Oil & Gas Publishers Note: Our 360 team has covered the refinery capacity news. The key take away is; “U.S. Gulf Coast, which is home to about half of U.S. refining capacity, used imported crude oil for only 28%

Source: Reuters

Column: Hedge funds turn bullish on crude, remain cautious on fuels

Reuters


LONDON – Hedge funds continue to bet on a recovery in oil prices, but their bullishness is concentrated on crude, especially U.S. crude, while refined fuel markets are expected to take longer to tighten.

Hedge funds and other money …

Source: Reuters

U.S. diesel cash prices latest to slump from coronavirus fallout

Reuters


NEW YORK  – U.S. ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week, after refiners boosted production in a bid to flee poorer margins for other products …

March 23, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

U.S. crude stockpiles jump sharply as refiners cut activity: EIA

Source: Reuters


(Reuters) – U.S. crude oil stockpiles rose sharply last week as refineries cut output and exports dropped, while refined products extended a multi-week drawdown, the Energy Information Administration said on Wednesday.

 

Crude inventories rose by 7.9 million …

Source: NOAA

Intensifying Storm Cut Half U.S. Gulf Coast Oil Output, Closes Coastal Refinery

From Reuters


An intensifying tropical storm in the U.S. Gulf of Mexico on Thursday cut more than half the region’s oil output, with energy companies evacuating staff from nearly 200 offshore facilities and a coastal refinery.

Oil firms shut more …

Houston Refinery Slowdown May Continue for A Week

Houston Refinery Slowdown May Continue for A Week

From Reuters

Lyondell Basell Industries may keep production cut at its 263,776 barrel-per-day (bpd) Houston refinery for a week because of constrained logistics, Gulf Coast market sources said on Friday.

Royal Shell Plc plans to increase production on April 3 …

March 29, 2019 - 5:06 pm Closing Bell Story‎, Crude Oil News, Energy News
If You Can’t Pipe It, Refine It: Alberta Seeks Oil Glut Solution

If You Can’t Pipe It, Refine It: Alberta Seeks Oil Glut Solution

From Bloomberg

What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new refinery for the province, may be on its way to finding out.

In 2018, surging crude production in the …

January 7, 2019 - 4:52 pm Canada, Closing Bell Story‎, Crude Oil News, Energy News
Chinese Production Declining As Domestic Demand Ramps Up

Chinese Production Declining As Domestic Demand Ramps Up

Chinese production continues to fall due to aging assets as demand grows

Demand for crude oil at Chinese refineries continues to grow as the country’s aging oil properties slow production. Chinese production fell the most month-over-month since November 2011 in …

United States, Mexico Integrate Energy Industries with Crude Oil Swaps

United States, Mexico Integrate Energy Industries with Crude Oil Swaps

Mexico’s rapidly changing oil and gas industry took another step forward last month, reaching an agreement with the United States Bureau of Industry and Security to swap crude oil depending on its respective grades. U.S. refineries, particularly on the Gulf …

September 10, 2015 - 7:02 pm International, Oil and Gas 360 Articles, Regulatory
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
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
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
Refinery Strikes May Lead to Market Disruptions

Refinery Strikes May Lead to Market Disruptions

Gasoline Prices Continue Edging Up

As if the dwindling rig counts, record inventories and falling temperatures weren’t enough for the oil and gas industry, another complication is arising at the tail-end of the system. Strikes spearheaded by the United Steelworkers …

February 23, 2015 - 6:36 pm Oil and Gas 360 Articles, Politics & Opinions, Regulatory
UPDATE: U.S. Oil Refinery Strikes

UPDATE: U.S. Oil Refinery Strikes

Negotiations have resumed between Shell and union leaders

Negotiations resumed today between Royal Dutch Shell and union leaders as they work to solidify a new contract for workers at 72 oil refineries around the United States. Starting Sunday, the United …

February 4, 2015 - 3:20 pm Oil and Gas 360 Articles
Refineries, Gasoline Prices Experiencing the Silver Lining of Commodity Environment

Refineries, Gasoline Prices Experiencing the Silver Lining of Commodity Environment

United States refineries are running at utilization rates well above 90%, but don’t count them as part of the oil and gas industry being squeezed in the current commodity market. The Energy Information Administration (EIA) still expects domestic production to …