Refiners – Page 2 – Oil & Gas 360

Pandemic hastens threat of closure for struggling oil refineries

July 2, 2020

Reuters LONDON/NEW YORK – The collapse in oil demand from the COVID-19 pandemic is hastening the reckoning for those refiners already struggling as new capacity overtakes demand, posing an existential threat to many, particularly Europe’s ageing plants. Even before the pandemic struck, which at its height destroyed over 20% of global oil demand, analysts expected global refining capacity would have

Column: Oil refiners adapt to post-lockdown shift to gasoline from diesel – Kemp

June 26, 2020

Reuters LONDON – Petroleum consumption is rising around the world as the major economies exit from lockdowns imposed to control the coronavirus epidemic, but the uneven recovery presents challenges for fuel refiners. Refiners must cope with a much stronger rebound in demand for gasoline compared with diesel and jet fuel, reconfiguring their equipment to shift the yield towards light distillates

U.S. crude stockpiles surge to record high on big Saudi imports: EIA

June 10, 2020

Reuters U.S. crude oil stockpiles rose unexpectedly last week to an all-time high as refiners boosted imports, particularly from Saudi Arabia, while exports dropped to lows not seen since November. The Energy Information Administration also said on Wednesday that refined product demand ticked up, but still remained far below normal levels. Crude inventories rose 5.7 million barrels in the week

Global oil refiners to deepen output cuts as coronavirus destroys demand

March 26, 2020

Reuters SINGAPORE/NEW DELHI/SEOUL/HOUSTON – Oil refiners from Texas to Thailand are bracing for deeper output cuts, bruised by an unprecedented demand shock as more countries lock down and restrict travel to contain the spread of the coronavirus. Global fuel demand is set to drop by as much as 15% to 20% in the second quarter as a result of the

Canada’s Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

August 27, 2019

From Reuters Canadian Natural Resources Ltd, the country’s biggest oil producer, has joined a number of other firms asking Canada’s energy regulator to intervene in Enbridge Inc’s plan to overhaul shipping contracts on its Mainline pipeline network. Canadian Natural’s letter to the National Energy Board (NEB), filed late on Monday, calls on the regulator to delay Enbridge’s proposal to switch

China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts

August 8, 2019

From Reuters China imported Iranian crude oil in July for the second month since a U.S. sanctions waiver ended, according to research from three data firms, with one estimate showing some oil entered tanks holding the country’s strategic reserves. According to the firms, which track tanker movements, between 4.4 million and 11 million barrels of Iranian crude were discharged into

American Refiners Clean Up Their Act as OPEC Shipments Dry Up

May 1, 2019

From Bloomberg Oil refiners in the U.S. are using more light crude to fill the gap from the sludgy, sulfurous stuff they used to get from OPEC. Crude shipments from the 14-member cartel to American ports dipped to a 33-year low in February in part because of the pact between OPEC and allied producers to curb output and forestall a global glut.

Europe’s Refineries Stop Taking Contaminated Russian Oil

April 26, 2019

From Bloomberg A major Russian oil pipeline will remain shut for another week as its operators resolve a chemical contamination that forced refiners in Eastern Europe to stop taking crude deliveries. Talks in Minsk between officials from countries along the crucial oil conduit agreed on a technical solution that’s now under review, Poland’s pipeline operator said on Friday. Russia has

With an Eye on Trump, Refiners Tout Clean Fuel Rule as U.S. Win

April 10, 2019

From Bloomberg U.S. oil refiners, in line for a windfall from new ship-fuel rules, are taking steps to lock in the change quickly, concerned it could fall victim to President Donald Trump’s re-election push. Under the new rules, many shippers will switch to low-sulfur fuels, boosting competition and, potentially, increasing the price of diesel, jet fuel and heating oil. The

Texas Refineries Cut Output as Petrochemical Spill Curbs Shipping

March 25, 2019

From Reuters A petrochemical disaster outside Houston that has disrupted ship traffic for days at a major U.S. oil port led two major refineries on Monday to reduce fuel production, according to people familiar with the matter. A fire and fuel leak at Mitsui & Co Inc’s Intercontinental Terminals Co storage facility in Deer Park, Texas, last week sent gasoline,

Oil Traders Are Now Watching Workers’ Phones to Spot Problems at Refineries

March 21, 2019

From Bloomberg In the $40 trillion global oil-trading market, the smallest clue can be worth millions. Take the number of people working at a refinery: Outside contractors are brought in for routine maintenance or to handle accidents that could limit demand for crude oil or curb the supply of fuels. While oil companies rarely reveal such sensitive information, traders can

U.S. Refiners Look to Get in on Shale Oil Export Boom

March 20, 2019

From Bloomberg U.S. refiners aren’t just buying crude to turn into gasoline and diesel — they’re competing with producers and traders to export it. Marathon Petroleum Corp. and Phillips 66 — two of the three biggest U.S. independent fuelmakers — are getting in on the shale export boom. Both are part owners of existing pipelines and new ones being built from the Permian

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