Post Tagged with: "Refinery"

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

RarePetro


Oil & Gas 360 Publishers Note:  Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

RarePetro

Oil & Gas 360 Publishers Note:  Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any

May 29, 2020 - 11:25 am Capital Markets, Crude Oil Storage, OPEC
FILE PHOTO: The logo of Total oil company is pictured in Abuja, Nigeria October 18, 2017. REUTERS/Afolabi Sotunde/File Photo

Total says to avoid fuel shortage as strike escalates at Feyzin refinery

Reuters


French energy major Total said on Friday it was taking measures to avoid fuel and other products shortages after striking workers blocked distribution from its 110,000 barrels-per-day Feyzin refinery.

CGT union workers at the refinery near the city of …

Source: Reuters

BP profit beats as strong refining offsets lower oil price

Source: Houston Chronicle


BP Plc reported profit that beat analyst estimates as a strong refining performance offset the effect of lower oil and natural gas prices, and bad weather that curbed production.

The positive result will please investors expecting a …

Source: Marathon Petroleum

Marathon Petroleum mulls selling two refineries: Bloomberg

Source: Reuters


(Reuters) – U.S. refiner Marathon Petroleum Corp, which is under pressure from activist investor Elliott Management Corp, is considering the sale of two plants in Alaska and Utah, Bloomberg reported, citing people familiar with the matter.

Elliott urged …

Source: Citgo

Citgo’s New CEO Confident in an Uncertain Time

From The Houston Chronicle


Houston’s Citgo Petroleum is under attack on multiple fronts. Creditors for its parent company want to seize its refineries. It’s at the center of a fight for control over Venezuela. The Justice Department is investigating it …

Source: Citgo

U.S. Court Confirms Citgo Board Appointed by Venezuela’s Opposition

From The Houston Chronicle


In a victory for Venezuela’s opposition government, a U.S. judge confirmed Citgo Petroleum’s board of directors appointed by Juan Guaido, squashing socialist leader Nicolas Maduro’s efforts to regain control over the Houston oil refiner.

On Wednesday …

Cushing, Okla., is one of the United States oil facilities in the Keystone Pipeline System.

TransCanada’s 4,250-kilometre (2,640 mile) Keystone Pipeline System transports approximately 20 per cent of western Canadian crude oil exports to key refineries in the U.S. Midwest and Gulf Coast, where it is converted into fuel and other useful petroleum products.

U.S. Crude Stockpiles Fall, with Cushing Down for a Seventh Week – EIA

From Reuters


U.S. crude oil stockpiles fell more than expected last week with supplies at the Cushing, Oklahoma hub dropping for a seventh week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories fell …

Source: Citgo

CITGO Board Appoints Former Venezuelan Oil Executive as CEO

From The Houston Chronicle


CITGO’s board of directors has appointed former Venezuelan oil executive Carlos Jorda as CEO of the embattled Houston refining company.

In a statement released on Wednesday morning, the company’s board reported that the year-long search for …

Texas County Sues Exxon Over Air Pollution from Petrochemical Fire – Official

Texas County Sues Exxon Over Air Pollution from Petrochemical Fire – Official

From Reuters


Harris County, Texas sued Exxon Mobil Corp on Thursday over pollution from a fire a day earlier at the company’s Baytown Olefins Plant, according to an attorney for the county.

The fire was being investigated by federal and …

Old Habits Die Hard: Saudi Arabia Struggles to End Oil Addiction

Old Habits Die Hard: Saudi Arabia Struggles to End Oil Addiction

From Reuters


When Saudi Aramco was on the verge of a deal last year to buy a stake in an Indian oil refinery, its boss quickly boarded a company jet in Paris and flew to New Delhi.

Chief executive Amin …

Source: XOM

Philadelphia Refinery Closing Reverses Two Years of U.S. Capacity Gains

From Reuters


The planned closing of an oil refinery in Philadelphia damaged by a massive fire last month will reverse nearly two years of capacity gains at U.S. refineries, according to a Reuters analysis of government data.

Philadelphia Energy Solutions …

India’s MRPL Buys its First U.S. Thunder Horse Oil

India’s MRPL Buys its First U.S. Thunder Horse Oil

From Reuters


India’s state-run Mangalore Refinery and Petrochemicals Ltd (MRPL) has made its first purchase of U.S.-produced Thunder Horse crude oil via a tender for mid-October delivery, its managing director M. Venkatesh said on Friday.

“The price offered was very …

Summer Drive Season More Costly as East Coast Refinery Burns

Summer Drive Season More Costly as East Coast Refinery Burns

From Bloomberg


Blaze contained at PES facility, major New York supplier, refinery is largest such complex in U.S. East Coast region

Gasoline futures jumped the most in three months after an explosion and fire at the Philadelphia Energy Solutions oil …

Source: Meridian Energy

New President Joins Meridian Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360

Paul Coppola to serve as president and chief investment strategy officer
Meridian Energy Group, Inc., a company specializing in the development of environmentally-conscious crude oil refineries, has added a new member

Source: PBF Energy

PBF Energy Snags Martinez Refinery from Shell

~$1 billion transaction to boost PBF’s production volume by 157,000 BOPD
PBF Energy Inc. (stock ticker: PBF) has signed an agreement with Equilon Enterprises LLC d/b/a Shell Oil Products US to purchase the Martinez refinery, located in Martinez, California, for

Total declares force majeure on jet fuel at Germany’s Leuna refinery

Total declares force majeure on jet fuel at Germany’s Leuna refinery

From Reuters


PARIS (Reuters) – France’s Total on Tuesday declared force majeure on the production of jet fuel at its Leuna refinery in Germany following the supply of contaminated crude from Russia.

“We have declared Force Majeure on the jet …

Plan to Refine Permian Oil at Home: Meridian Shoots to Build Second Refinery

Plan to Refine Permian Oil at Home: Meridian Shoots to Build Second Refinery

Almost half of all U.S. crude oil production from onshore basins comes from the Permian Basin according to the EIA. We're talking about a massive amount of daily oil production--3.8 million barrels per day.

And now a home-based Permian refinery

February 12, 2019 - 7:43 pm Closing Bell Story‎, Downstream, Oil and Gas 360 Articles
Lopez Obrador Says Mexico to Build an $8 Billion Refinery

Lopez Obrador Says Mexico to Build an $8 Billion Refinery

From Bloomberg

Mexico plans to start awarding the construction of its seventh refinery as soon as March 2019, President Andres Manuel Lopez Obrador said Sunday at an event at the Dos Bocas port in Tabasco, even as the nation´s refining …

December 11, 2018 - 5:50 am Closing Bell Story‎, Crude Oil News, Energy News, Mexico
Billionaire Makes a $15-Billion Bet on Oil

Billionaire Makes a $15-Billion Bet on Oil

Pushing the limits: following a $10 billion refinery and petchem plant and a $2.5 billion fertilizer plant, billionaire wants to acquire oil fields that will deliver 250,000 barrels of oil production daily

From Bloomberg 

Aliko Dangote has made a fortune …

Sterling Resources Taps Peru

Sterling Resources Taps Peru

Sterling Resources speeds up Bretana field development

Peru-focused E&P Sterling Resources Ltd. (ticker: SLG) has advanced the 2018 capital program at the Bretana field in Northeast Peru. Last December, the company acquired 100% working interest in the field. At the …

Refiners Join Forces: Marathon to Acquire Andeavor for $23 Billion

Refiners Join Forces: Marathon to Acquire Andeavor for $23 Billion

Deal will create the largest U.S. refiner

Marathon Petroleum Corp. (ticker: MPC) and Andeavor (ticker: ANDV) have entered into a definitive merger agreement under which MPC will acquire all of ANDV’s outstanding shares, representing a total equity value of $23.3 …

Asia takes 35% of U.S. exported crude oil Jan.-Aug. 2017; snags 40% of U.S. exports in Sept.-Oct.

U.S. Crude Exports Jump to Record Level After Harvey Disrupts Refining

Hurricane Harvey disrupted U.S. Gulf Coast refining operations from late August to September in 2017, and pausing operations led to record-high U.S. crude oil exports when facilities reopened after the storm, the EIA reported today.

In October 2017, crude oil …

East Coast Refiner Files Bankruptcy, Says Emergence Depends on Shedding Cost of Federal Government Mandated Renewable Fuel Standard

East Coast Refiner Files Bankruptcy, Says Emergence Depends on Shedding Cost of Federal Government Mandated Renewable Fuel Standard

PES said the cost of RINs in 2017 alone was $218 million, more than every cost besides crude oil

Company invested in a new North Dakota rail terminal to benefit from discounted Bakken crude prices

From Reuters

NEW YORK (Reuters) …

January 23, 2018 - 6:54 am Closing Bell Story‎, Downstream, Energy News
Tallgrass Energy Buys Two Crude Oil Terminals for $50.5 Million

Tallgrass Energy Buys Two Crude Oil Terminals for $50.5 Million

Tallgrass Energy Partners, LP (ticker: TEP) announced today two strategic acquisitions by its Tallgrass Terminals business and several significant commercial developments that expand services offered by Pony Express in key crude oil producing basins it serves.

“Today’s announcements, along with …

January 3, 2018 - 5:43 pm Closing Bell Story‎, Midstream, Oil and Gas 360 Articles
CB&I Wins $95 Million Saudi Aramco Shell Refinery Contract

CB&I Wins $95 Million Saudi Aramco Shell Refinery Contract

CB&I (ticker: CBI) won a contract for more than $95 million from the Aramco-Shell JV – Saudi Aramco Shell Refinery (SASREF). The scope of work includes the engineering, procurement and construction management for SASREF’s modernization and expansion of its existing …

Proposed Permian Refinery Could Take 50,000 BOPD from West Texas Producers

Proposed Permian Refinery Could Take 50,000 BOPD from West Texas Producers

It’s small when you compare it to the top ten largest U.S. refineries, most located on the Gulf coast, all having capacities between 300,000 barrels and half a million barrels per day, but a small Texas-based energy company has announced …

California Importing 10X More Gasoline after Torrance Refinery Outage Spiked Prices

California Importing 10X More Gasoline after Torrance Refinery Outage Spiked Prices

california-gas-importsSupply from India, Russia and the UK Heading to the West Coast

Gasoline prices in California has historically been among the highest in the United States, and the drop in supply after a refinery shutdown earlier this year is not …

October 13, 2015 - 6:12 pm Commodity Pricing, Downstream, Oil and Gas 360 Articles
Refining Sector Attracts U.S. Mutual Funds

Refining Sector Attracts U.S. Mutual Funds

Tesoro and Valero bright-spots on S&P500 Energy Index

The outlook for the refining sector continues to be a bright spot in an otherwise gloomy outlook for the energy industry. While E&Ps look for the best ways to cut costs amid …

October 9, 2015 - 4:35 pm Downstream, Oil and Gas 360 Articles
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