Following record utilization last year, U.S. refiners expect to have lower capacity operating in the first quarter of this year, due to a heavy maintenance season.
After operating at over 90% for most of 2022, the largest …
NEW YORK – U.S. refiners are expected to buy more Canadian oil after the Biden administration ends releases from the Strategic Petroleum Reserve (SPR) this fall, traders said, adding this should boost the price of Canadian barrels at …
Last night, American Petroleum Institute (API) President and CEO Mike Sommers and American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson sent a letter to President Biden responding to recent letters the Administration sent to major …
U.S. oil refiners expect strong first-quarter earnings as margins to sell gasoline and diesel strengthened due to a steep dropoff in refining capacity and crude oil supplies tightened because of Russia’s war with Ukraine.
Refining capacity worldwide has dropped …
NEW YORK -President Joe Biden’s administration, under pressure from labor unions and U.S. senators including from his home state of Delaware, is considering ways to provide relief to U.S. oil refiners from biofuel blending mandates, three sources familiar with …
LONDON/NEW YORK – U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels, shipping and trade sources say.
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NEW YORK/HOUSTON – U.S. oil refiners are predicting a strong recovery in fuel demand in the second half of this year as vaccination rates increase and workers are expected to resume commuting and taking vacations.
But oil processors appear …
Following a year of grim losses amid pandemic lockdowns that dented demand for fuel as people stuck close to home, the largest U.S. independent refiners are promoting plans to boost production of renewable fuels.
Renewable fuels represent a silver …
NEW YORK – U.S. refiners are girding for a painful slate of fourth-quarter earnings, reflecting the pressure of rising crude prices, weak demand due to renewed COVID-19 travel restrictions, and higher costs of associated with blending of renewable fuels …
U.S. oil refiners this quarter are expected to spend the most since at least 2018 to meet U.S. biofuels requirements, further pressuring margins hit by the collapse since March in global prices and demand.
Under renewable fuel legislation originally …
MOSCOW – Russia kept fuel oil exports to the United States close to its record-highs in the first six months of this year, as Washington looks to replace the heavy Venezuelan barrels it stopped buying a year ago, traders …
