Oil Refineries

Traders are rushing to fill up tank along the U.S. East Coast with extract fuels, like diesel and heating oil, data from storage broker The Tank Tiger showed on Monday, an indication of deepening oversupply that is weighing on refiners' earnings. Mainly warmer-than-expected winter season weather in U.S. Northeast and Europe has cut distillates demand and hit refiners' margins across the globe in recent months, an element that drove softer first-quarter earnings by oil majors and top independent refiners. Spreads between U.S. crude and diesel futures , or fractures that show refining margins, have dropped more than 30% so far...

Leading U.S. refiner Marathon Petroleum beat firstquarter earnings estimates on Tuesday, as need for improved products remained at high levels and international fuel supplies tightened due to refinery upkeep activities and interruptions in Russia. The refiner likewise announced a $5 billion increase to its share repurchase authorization. Heavy refinery upkeep work during the quarter and failures at Russian refineries following Ukrainian drone attacks reduced fuel products to international markets. Demand for fuel remained steady. U.S. product provided, a. proxy for need, balanced at 20.10 million barrels per day. ( bpd) at the end of March, compared to 19.7 million bpd...

Canada's Trans Mountain pipeline growth (TMX) is set to go into partial operation on May 1, years behind schedule and at more than 4 times the original cost however with the prospective to impact oil flows even outside North America. Canada, the world's fourth-largest oil producer with almost 5 million barrels per day (bpd) of output, will have more than enough export pipeline capability once the C$ 34 billion ($ 24.9. billion) TMX ends up being totally operational. The expanded pipeline will deliver an extra 590,000 bpd from. Alberta to Canada's Pacific Coast, providing Canada's heavy crude. manufacturers access to...

Mexican state oil company Pemex is reversing crude exports cuts of at least 330,000 barrels each day (bpd) planned for May in the middle of a. smallerthanexpected oil need by the business's domestic. refineries, two sources near to the choice said on Friday. Pemex's international trading unit in April started imposing. exports cuts over supply crude contracts to consumers in the. U.S., Asia and Europe to increase its availability of crude for. domestic refining. The reductions have triggered lots of clients to. seek alternative crude grades. Even before the preliminary of cuts, Pemex oil exports to. all destinations in March...

The Canada Energy Regulator (CER). has six leavetoopen applications left to consider for the. 590,000 barrelperday Trans Mountain pipeline expansion. task, a CER spokesperson said on Friday. The Canadian government-owned pipeline growth will nearly. triple the flow of crude from Alberta to Canada's Pacific Coast. and open access to Asia and the U.S. West Coast. So-called. leave-to-open orders signal approval from the regulator that a. area of pipeline can begin operating. After years of building and construction hold-ups and cost over-runs,. oil market participants are viewing closely for when the. growth opens. Earlier this month Trans Mountain said the pipeline....

U.S. refiner Valero Energy Corp prepares to run its 14 refineries up to 95% of their combined overall throughput capacity of 3.2 million barrels per day (bpd) in the second quarter of 2024, said Homer Bhullar, vice president of financier relations. Valero's seven U.S. Gulf Coast refineries are planned to operate as much as 99% of their combined 1.9-million-bpd total throughput capacity, Bhullar stated throughout a teleconference to go over very first quarter results. Valero, the country's second biggest refiner, said its refineries ran at 87% of capability in the very first quarter. National refinery utilization has remained in the...

A fullsize vessel bring raw sugar was able to navigate through the 20foot deep temporary channel at the U.S. Patapsco River on Wednesday and reach the Port of Baltimore for the first time because an accident blocked access to the port almost a month back. The vessel The Jonathan carried materials for the big sugar refinery run by the ASR Group - the business that makes Domino Sugar - situated at Port of Baltimore. The plant, which is one of the largest sugar refineries in the United States, has actually dealt with difficulties to keep operations at normal levels since...

Australia's BHP Group is planning to receive its first ammoniafuelled bulk provider in 2026 as part of the company's strategies to cut shipping emissions, a senior executive said. The worldwide mining giant has actually shortlisted eight business for the structure, operation and fuel supply for at least one such vessel, Rashpal Singh Bhatti, vice president of maritime and supply chain excellence at BHP told late recently. However, it has not yet chosen the total number of vessels that it will buy and is also evaluating expenses, technical and safety submissions, Bhatti stated. Ammonia is among several alternative fuels that shippers...

Valero Energy Corp. shut the little crude distillation system (CDU) at its 180,000. barrelperday (bpd) Memphis, Tennessee, refinery on Monday for. a prepared overhaul, individuals acquainted with plant operations said. on Tuesday. The 80,000-bpd Crude West CDU is set up to be shut about. three weeks for the prepared overhaul, the sources said. A Valero representative did not respond to an ask for. comment. The company had prepared to shut Crude West in 2025 for an. overhaul, however Valero determined the system would need the work. quicker than 2025, the sources stated. Valero is likewise carrying out prepared work on...

ASR Group, the biggest sugar business in the United States, has 6 to eight weeks of raw sugar stocks at its Baltimore sugar refinery which is supplied by vessels coming to the Port of Baltimore, the business said in a statement on Tuesday. Despite the existing clog of the port after the bridge collapse, the business that makes Domino sugar stated it does not expect short-term impacts to its operations in the area. The Baltimore refinery is one of the largest plants amongst the six refineries ASR Group operates in the U.S., producing 6 million pounds of refined sugar per...

Exxon Mobil Corp. was restarting a hydrocracker after a planned overhaul at its. 619,024 barrelperday (bpd) Beaumont, Texas, refinery on. Friday, 2 people familiar with plant operations stated. Exxon spokesperson Lauren Kight declined to comment. The 60,000-bpd hydrocracker was shut on March 1 for the. prepared overhaul, the sources stated. The 80,000-bpd PTR-4. catalytic reformer is also shut for work. A breakdown on the 40,000-bpd CHD-2 hydrotreater reported. by the company to the Texas Commission on Environmental Quality. on Friday was related to the restart, the sources stated. Exxon prepared to finish the work and reboot the unit by. the...

Motiva Enterprises restarted two crude distillation systems (CDUs). overnight at its 626,000 barrelperday (bpd) Port Arthur, Texas. refinery, the nation's largest, after a power outage on. Wednesday, individuals familiar with plant operations said on. Thursday. Motiva started rebooting the gasoline-producing fluidic. catalytic cracker (FCC) on Thursday morning, the sources said. The 200,000-bpd VPS-4 CDU, 90,000-bpd VPS-2 CDU and. 81,000-bpd FCC were amongst 9 units shut by the power. interruption as a line of severe thunderstorms, which generated. one tornado, swept over east Port Arthur, according to a notification. the business filed with the Texas Commission on Environmental. Quality (TCEQ). The...

There is no need for Russia to ban exports of diesel to tackle rising prices and possible scarcities of the fuel after drone attacks lowered refining capability, Deputy Prime Minister Alexander Novak stated on Friday. Speaking with reporters, Novak likewise stated, without elaborating, that the Novatek-led Arctic LNG 2 job, which began tentative production in December, remains in discuss liquefied natural gas (LNG) deliveries as Western sanctions prevent the accessibility of tankers for the job. Russia has actually faced a high decrease in oil refining capacity, paralyzed by technical failures and drone attacks. It banned exports of gas for half...

A Ukrainian deputy prime minister said on Friday Russian oil refineries were legitimate targets for its forces, after a media report stated the United States, a close ally, had actually asked Kyiv to stop carrying out drone strikes on refineries. Ukraine significantly stepped up its attacks on Russian energy facilities this month, introducing numerous long-range drones to strike Russia's most significant refineries, leading to the short-lived suspension of production at some of them. We understand the calls of the U.S. partners, however at the very same time we are combating with the capabilities, resources, and practices that we have, Olha...

Longrange Ukrainian attack drones introduced by the SBU domestic security service have struck 12 Russian oil refineries during the war so far, a Ukrainian intelligence source informed on Sunday. Authorities in the southern Russian area of Krasnodar said Ukrainian drones had actually attacked the Slavyansk oil refinery, 70km ( 45 miles) north of the local capital, overnight. The Ukrainian source said the refinery, which processes about 4.5 million metric lots of crude a year and produces fuel generally for exports, had actually been attacked in an operation staged by the SBU security service and other Ukrainian forces. The company is...

Staterun China National Offshore Oil Co, among the nation's top importers of Russian oil, has in current months been pumping shipments of ESPO blend from Russia's Far East into a recently launched reserve base, according to traders and tanker trackers. This is the very first time stockpiling of Russian ESPO blend crude at CNOOC's brand-new reserve base has been reported. CNOOC did not have an immediate comment. The stockbuild, estimated at more than 10 million barrels by tanker tracker Vortexa Analytics, helped raise China's seaborne imports of the flagship Russian export grade to a record high in March, supporting rates...

Russia remains in complete compliance with its commitments to decrease oil products as part of the OPEC+. producer group's deal, Russian Deputy Prime Minister Alexander. Novak said on Wednesday. His comments come after a meeting of leading OPEC+ ministers. kept oil policy the same and pushed some nations to enhance. compliance with output cuts, a decision that spurred. global crude prices to their highest in five months at. almost $90 a barrel. Novak said the nations taking part in OPEC+ had. validated a high level of compliance with oil supply curbs. Last month, Russia stated it would cut its oil...

Russia has increased fuel imports from neighbouring Belarus in March to take on the danger of shortages in its domestic market since of unscheduled repairs at Russian refineries after drone attacks, 4 industry and trade sources said on Wednesday. Typically Russia is a net exporter of fuel and a supplier to global markets, but the interruption of Russian refining has forced oil companies to import. Currently Russia banned gasoline exports from March 1 to attempt to protect sufficient fuel for its domestic market after repeated Ukrainian drone attacks on Russian refineries given that the start of the year. Russia typically...

Russian oil firms deal with delays of as much as numerous months to be paid for crude and fuel as banks in China, Turkey and the United Arab Emirates (UAE) ended up being more wary of U.S. secondary sanctions, 8 sources familiar with the matter stated. Payment hold-ups lower profits to the Kremlin and make them unpredictable, allowing Washington to accomplish its dual policy sanction objectives - to interfere with cash going to the Kremlin to punish it for the war in Ukraine while not interrupting worldwide energy flows. Numerous banks in China, the UAE and Turkey have actually boosted...

Russia will increase oil exports through its western ports in March by nearly 260,000 barrels each day (bpd) versus an initial monthly strategy to 2.22 million bpd after a fall in processing at refineries hit by Ukrainian drones, 2 trade sources said on Tuesday. The increase - which follows an upward revision reported by on Monday - implies Russia's oil deliveries on a daily basis will rise by 13% in March from the preliminary plan, estimations reveal. The sources informed that 2 730,000-barrel Urals oil freights were added to the loading strategy from the Baltic ports in March by Lukoil...

Ukraine has stood out Russian oil refineries in heavy drone attacks, triggering a fire at Rosneft's greatest refinery in what President Vladimir Putin stated was an effort to interrupt the governmental election. What was targeted and what do they produce? RYAZAN Russia's Ryazan oil refinery, controlled by Rosneft, was set ablaze after a drone attack, a local guv said on Wednesday. The plant, with set up capability of around 350,000 barrels per day, improves about 12.7 million metric lots of Russian crude a year (around 317,000 barrels daily), or 5.8% of overall refined crude, according to industry sources. It has...

Russia will increase oil exports through its western ports in March by almost 200,000 barrels daily (bpd) against the monthly plan to 2.15 million bpd, and market participants anticipate an additional boost in exports amidst continuous drone attacks on Russian refineries. Daily deliveries will increase by 10% compared to the preliminary prepare for March, estimations revealed. Russian oil refineries have actually been experiencing a series of drone attacks from Ukraine including latest attacks on Rosneft refineries over the weekend. The supply of Urals in the Baltic in March this month will boost due to the look of 2 additional cargoes...

A Ukrainian drone struck Russia's thirdlargest oil refinery on Tuesday about 1,300 km ( 800 miles) from the cutting edge, hitting an unit that processes about 155,000 barrels of crude per day, though a market source said strike caused no critical damage. A Ukrainian intelligence source stated Ukraine struck the primary fine-tuning system at the oil refinery in Russia's extremely industrialised Tatarstan region and triggered a fire. Such attacks are planned to lower Russia's oil profits, the source said. Russian authorities stated jamming devices locked onto a. Ukrainian drone near Tatneft's Taneco refinery, which. has an annual production capability of...

Asia's. imports of petroleum are expected to rise to the greatest in 10. months as heavyweights China and India raised arrivals from. Russia, however impending maintenance schedules and increasing rates. indicate such levels might not be sustained. The world's top importing area is anticipated to see arrivals. of 27.48 million barrels each day (bpd) in March, up from 26.70. million bpd in February and January's 27.18 million bpd,. according to information assembled by LSEG Oil Research. The bulk of oil showing up in March was arranged before the. present increase in rates, which has actually seen Brent move from a....