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U.S. oil refiners are expected to have about 60,000 barrels per day (bpd) of capacity offline in the week ending June 7, increasing available refining capacity by 44,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to rise to 66,000 bpd in the week ending June 14, IIR added. The following …
U.S. Oil Refiners’ Weekly Capacity Seen up 44,000 Bpd, IIR Says Read More »
U.S. crude oil refiners aim to operate above 90% of their combined processing capacity for the remainder of the quarter after completing planned overhauls, said analysts contacted by Reuters. Strong spring production levels have retail gasoline prices on par with a year ago, according to motorist group AAA. The nationwide average price for a gallon …
US Refiners Boosting Fuel Output Past 90% of Capacity for Summer Driving Season Read More »
NEW YORK, May 20 (Reuters) – Major U.S. fuel makers returned billions in capital to shareholders in the first quarter and boosted share repurchase programs, even as refining margins softened from recent records and utilization rates fell. Three of the biggest U.S. independent oil refiners – Marathon Petroleum (MPC.N), Phillips 66 and Valero Energy – earned combined adjusted profits …
U.S. Refiners Reward Shareholders With Big Returns Despite Softer Q1 Profits Read More »
(Reuters) – Refiner Valero Energy beat first-quarter profit estimates on Thursday, benefiting from sustained demand as crude supplies remained tight due to disruptions in Russia and maintenance work at U.S. refineries. Crude supplies came under pressure as Ukrainian drone attacks had shut about 14% of Russia’s refining capacity, as of the end of the March quarter. …
Refiner Valero Beats Profit Estimates on Resilient Demand, Tight supplies Read More »
Summary Analysts see upside for top refiners Geopolitical risks keep oil prices elevated War-related supply disruptions to keep margins strong NEW YORK, April 24 (Reuters) – U.S refiners’ first quarter profits are expected to fall from recent records, when earnings soared following Russia’s invasion of Ukraine in 2022, but overall will continue to draw support …
U.S. Refiners’ Profits to Fall From Last Year But Margins Remain Strong Read More »
Freeport LNG’s liquefaction plant remains mostly offline for a fifth straight day, with gas utilization rates at 125 million cubic feet per day (mmcf/d), or 5% of its fully operational use, data from financial firm LSEG showed on Monday. Freeport LNG has been the second-largest U.S. LNG exporter, with an installed capacity of 15 million …
Freeport LNG Gas Consumption Running Near Zero for Fifth Day Read More »
(Reuters) – Cenovus Energy has announced a $1.5 billion investment in its Ohio refineries, including Lima and Oregon, according to a local media report on Wednesday. Ohio provides a “vital strategic location” that aids Cenovus’s decision to expand, said Doreen Cole, the company’s executive vice president, downstream, in a press release, quoted by the local media. Cenovus …
Cenovus Energy to Invest $1.5 Billion in Ohio Refineries Read More »
U.S. oil refiners are expected to have about 1 million barrels per day (bpd) of capacity offline for the week ending April 12, increasing available refining capacity by 231,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to fall to 994,000 bpd in the week ending April 19, IIR added. The …
U.S. Oil Refiners’ Weekly Capacity Seen up 231,000 Bpd, IIR Says Read More »
The amount of natural gas flowing to Freeport LNG’s liquefied natural gas (LNG) export plant in Texas was on track to rise for a second day in a row on Tuesday, according to data from financial firm LSEG. Energy traders said gas futures were trading about 2% higher so far on Tuesday on the possibility …
U.S. Natgas Flows to Texas Freeport LNG Export Plant Seen up on Tuesday Read More »
The bulk of new diesel supply stemming from a $1 billion expansion at the UK’s largest oil refinery operated by Exxon Mobil Corp. will be available in the first quarter of 2025. A new production facility at the Fawley refinery on the south coast of England will initially be geared to production of diesel, helping …
Exxon on Track With UK Refinery Expansion Just as Others Shut Capacity Read More »
