Oil Refineries

Analysts point out that President Donald?Trump's advice to countries who are struggling to obtain jet fuel because of Iran's blocking of the Strait of?Hormuz is flawed: the U.S. cannot cover the global shortage. Trump said in a Truth Social posting on Tuesday, "We have plenty." U.S. data proves that this is not true. Kpler, which tracks vessels, shows that about half a milllion barrels of jet fuel are exported from the Strait of Hormuz every day, mostly to Europe, but also to Asia, Africa and other parts of the world. The Energy Information Administration (the Department of Energy’s statistical arm)...

Four sources familiar with the preparations say that Delcy Rodriguez, the interim president of Venezuela, is preparing to take control of the U.S. subsidiaries of the state oil firm PDVSA, including Citgo Petroleum. The?move?could escalate a tug-of-war for control of the U.S. refiner that is the seventh largest. Washington recognized Rodriguez in March as Venezuela's president following the capture and detention of Nicolas Maduro. This opened the door for her to reopen U.S. embassies, consulates and to regain control over Venezuelan-owned businesses abroad that Maduro lost to the opposition. Citgo, Venezuela's crown jewel in foreign assets, is now run by...

Israel's military said Wednesday that it had killed senior Hezbollah commander Haj Youssef Ismail Hashem, the group's biggest blow since a new round of fighting broke out with Israel early last month. Avichay Adraee, Israel's military spokesman, said that Israel's navy slain Hashem, Hezbollah’s commander for the southern?front. Hezbollah confirmed the death of Hashem in a later statement, calling him a “beacon of Islamic Resistance.” His death was considered to be one of the greatest setbacks for the group since the murder of Haytham Ali Tabtabai, the chief of staff in November 2025. SENIOR COMBINER Hezbollah has lost the majority...

PetroChina supplied a rare shipment of nearly?2million barrels of crude from its storage facility in China to the refinery it owns half of, located in Singapore. The?firm is attempting to fill'shortfalls caused by the iran war. According to tanker trackers Vortexa & Kpler the tanker New Merit delivered 1.8 million barrels in crude oil to Dalian, northeast China, in mid-March. It then transported it to Singapore Jurong Island, where PetroChina & U.S. giant Chevron run a joint venture refinery. Sources declined to name themselves as they were not authorized to speak to the media. China exports crude oil very rarely....

A man who claimed to have been injured in an explosion at Valero Energy’s Port Arthur, Texas refinery Monday night filed a suit on Wednesday with a state district court, alleging that the?company?failed?to properly maintain the refinery. The lawsuit filed at the Jefferson County District Court of Beaumont, Texas, is seeking more than $1,000,000 in damages. A Valero spokesperson had no immediate comment on Wednesday night. Valero filed a report with the Texas Commission on Environmental Quality (TCEQ) on Tuesday. The company stated: "An unexpected release of fluid from Complex?2 caused an ignition event, and multiple process units were upset."...

The Trump administration announced Wednesday that it will suspend anti-smog federal regulations for seasonal gasoline blends to combat the higher prices at the pump since the start of 'the war against Iran. Environmental Protection Agency allows retailers to sell cheaper formulations of gas, including mixtures containing 15% ethanol (known as E15) that are not normally allowed during the warmer months. The waiver is valid for 20 days, starting on May 1. It can be extended as needed by the agency. "We anticipate a possible disruption in the American fuel supply," EPA administrator?Lee Zeldin stated at a news conference held on...

Valero Energy Corporation is preparing to restart the 380,000 barrels-per-day (bpd),?Port Arthur oil refinery in Texas this week. The plant was shut down on Tuesday following a blaze and explosion the day before. Sources said that workers were blocking pipelines feeding the damaged 47,000 bpd Unit 243 Diesel Hydrotreater on early Wednesday morning. They added that the shutdown was necessary to put out the fire that started on Tuesday. In a regulatory filing, Valero stated that no injuries had been reported from the explosion, which was triggered by the release of process fluid on unit 243. The explosion could be...

A release of fluid set off an explosion and ensuing fire ?that forced the temporary shutdown of ?Valero Energy Corp's 380,000-barrel-per-day (bpd) oil refinery ?in ?Port Arthur, Texas, according to a notice the company filed with state pollution regulators on Tuesday. The people reported that no injuries were reported in connection with the explosion of the Unit 243 Diesel Hydrotreater (47 000 bpd) unit. The date for the restart of the refinery has not been announced. Valero filed a notice with the Texas Commission on Environmental Quality on Tuesday night stating that an unpredicted release of fluid from Complex 2...

Two sources with knowledge of the situation say that the Trump administration will announce on Wednesday a temporary lifting of federal smog-cutting restrictions on summer-blend gas to 'curb rising fuel prices due to the war in Iran. This move will make gasoline more affordable by preventing refiners from switching to expensive summer blends. Fuel retailers will also be able to sell gasoline containing 15% ethanol (also known as E15) throughout the summer driving seasons, when more stringent rules would normally limit its use. Analysts believe the change will reduce retail prices by several cents per gallon and help both consumers...

Valero Energy Corp completed the temporary shutdown of ?its 380,000-barrel-per-day oil refinery in ?Port Arthur, Texas, on ?Tuesday ?following a Monday night explosion and fire in a diesel hydrotreater unit, people familiar with the plant operations said. The explosion of the diesel hydrotreater unit 243, which produces 47,000 bpd, did not cause any injuries. The date for the reopening has not been announced. Jefferson County Sheriff's Office said that the cause was unknown but they did not believe it to be an intentional act intended to?damage the refinery. Donta Miller said, "No, it's not that," when asked whether there was...

The spokesperson for the Jefferson County Sheriff's office said on Tuesday that no 'evidence' has been found to indicate a deliberate act as the cause of the explosion which occurred at Valero Energy Corp's Port Arthur refinery in Texas. Donta Miller is the chief deputy of?the sheriff’s office. On Monday night, 'people familiar with the plant operations' said that they could feel an explosion from a diesel-hydrotreater 11 miles away (18 km). Valero closed down the refinery in order to prevent the fire from being fueled by hydrogen or hydrocarbons. Hydrotreaters remove sulfur from motor fuels using hydrogen in accordance...

The crude oil markets still price in a resolution of the Middle East conflict that will result in the full opening of the Strait of Hormuz. In pricing this outcome, the market actually makes it more likely that the narrow waterway which serves as a channel for as much as 20 percent of the world’s oil supply remains closed. The market still expects U.S. president Donald Trump to deliver TACO - the acronym for Trump always?Chickens out. Trump can continue the conflict by maintaining the price of paper crude oil below the level that would allow for a return to...

Industry sources say that spot premiums for U.S. West Texas Intermediate crude are at all-time highs due to the fierce competition for oil supply between Asian and European refiners. This is in response to Middle Eastern oil flow disruptions caused by the Iran War. Europe is the biggest importer of U.S. oil, but the competition has increased as Asian buyers are searching for supplies from the Americas and Africa to Europe to replace Middle Eastern crude that cannot move through the Strait of Hormuz. Sources and analysts say that the increase in crude oil prices has increased costs for refiners...

Nigeria's Dangote Petroleum Refinery increased gasoline exports to Africa as disruptions in energy supply due to the Iran Conflict squeezed traditional fuel routes and curtailed the cheap imports which dominated West African markets. According to data from the tanker-tracking company Kpler, Nigerian exports of clean petroleum - including gasoline, diesel and kerosene - are up from 100,000 barrels per day on average in February to 214,000 barrels?per day in March. The number of shipments to other African countries has risen to 90,000 bpd. Previously it was only 38,000 bpd. Sources familiar with the deal said that the 650,000 barrels per...

ADNOC, the state oil company of Abu 'Dhabi, has announced that its Group CEO Sultan Al Jaber, will not be travelling to Houston for the CERAWeek energy conference. Instead, he will?participate virtually, before traveling to Washington D.C. to attend meetings. The meeting, which brings together some of the top executives in the oil and gas industries, begins on Monday. This is at a moment when oil prices are soaring globally due to Iran's closure of the Strait of Hormuz and attacks on infrastructure. Governments are scrambling to combat inflation and avoid recessions. This year, CERAWeek, an event?organized by S&P Global?will...

Saudi Aramco has cut 'crude oil supply' to Asian buyers in April for a second month,>>,>>,>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>?two sources?knowing the situation? said on Monday. This is after the U.S./Israeli war against Iran disrupted the trade via the Strait of Hormuz. Sources said that the producer will only supply 'Arab Light crude from the Red Sea port of Yanbu in April to customers on a term basis. This is to limit supplies to Asian refineries and to cap their output. Aramco couldn't be reached immediately for comment outside office hours. Kpler data shows that Saudi Arabia exported 4.355 millions barrels of crude per...

Crude oil futures prices'reflect a view of the market that it can successfully navigate through the Iran War, while the prices for physical cargoes or refined products signal an imminent crisis. One of these signals is not the case in the paper oil market. Brent crude futures for the global benchmark ended Wednesday at $91.98 per barrel, an increase of 4.8% over the previous close, but down from the brief spike that occurred on March 9, when they reached $119.50 - the highest price in almost four years. On the physical market, on Wednesday the premium of a physical cargo...

China's independent smaller refiners maintain output to cash in on the surge in domestic fuel price, but may be forced into trimming runs as of late April, when cheap feedstocks from inventories are running out and new deliveries will cost more in this war-induced rally, industry and trade sources reported. The plants in Shandong Province, China, the hub of smaller refineries, known as teapots, that account for roughly a quarter or more of the country's output, keep their run rates constant to maximize fuel sales, which are 20%-30% higher than before Israel and U.S. launched an attack on Iran on...

The first and most immediate impact of the U.S.-Israeli attack on Iran is a spike in diesel prices. This will increase costs for Brazilian farmers harvesting record soybean crops?and planting corn that they can't afford to delay. Brazil imports around 30% of its diesel needs. This leaves farmers vulnerable as fuel prices rise along with global oil costs, said representatives from major agricultural groups. The conflict occurs at a time when the demand for diesel in Brazil is at an all-time high. Farmers are harvesting the remaining fields, hauling soybeans for market and finishing the planting of 'the second corn...

Share markets fell on concerns that the escalating U.S. - Israeli war 'on Iran would squeeze energy supplies around the globe and hamstring industry. Here are some?actions governments are taking or plan to take in order to lessen the?impact on their economies of war. SOUTH KOREAN PLANS FUEL CAPITAL South Korean President Lee Jae Myung announced on Monday that the government would cap domestic fuel costs for the first time since nearly 30 years. He said that the country would also seek other sources of energy than those shipped through the Strait of Hormuz. A 100 trillion won ($67 billion),...

The United States, China and other major countries are making miscalculations, and retreating to their narrow interests, which threaten to turn the conflict in Iran into an international crisis for the supply of refined oil products. The media focuses a lot on the price for crude oil. Brent crude futures, which are the benchmark, jumped up to 20% in the early Asian trading on Monday, reaching $111.04 per barrel. This is the highest level since July 2022. The price of refined fuels, such as gasoline, jet fuel and diesel, has risen even more than crude oil. These are the fuels...

Retail gasoline and diesel prices in the United States are soaring due to the U.S. and Israel war against Iran, which is limiting oil and?fuel imports. This could be a test for Donald Trump's Republican Party before November's midterm elections. Oil prices rose to $90 per barrel this week, the highest in years. This added pain at gas pumps for consumers already stressed by inflation. In an interview on Thursday, Trump dismissed higher gasoline prices, saying that "if they increase, they will rise." Trump had promised to lower energy costs and unleash U.S. drilling for oil and gas during his...

Aster Chemicals and Energy, a major Singapore refiner and petrochemical company, has declared force majeure regarding supplies. The reason given was a disruption in raw materials due to the Middle East conflict. The joint venture of trading major Glencore and Indonesia's Chandra Asri operates ?a 237,000 barrel-per-day refinery and 1.1- million-metric-ton-per-year cracker in ?Singapore's Bukom and Jurong Island. The?spokesperson said that "this step is administrative and is a result of a thorough assessment of the potential consequences on our ability to?fulfill obligations to customers." The products were not affected by any?details. The spokesperson responded to a question by saying that...

The U.S. and Israel war against Iran has caused oil exports to Asia to be disrupted, forcing Asian refineries to 'cut runs' and petrochemical firms to declare force majeure. The latest news and developments are listed below: Zhejiang ?Petrochemical Corp, a major Chinese ?refiner ?backed by Saudi Aramco, has shut a 200,000-barrel-per-day unit, bringing forward maintenance in response to the Middle East conflict's impact on crude supply. Two industry sources said that FREP (Fujian Refining and Petrochemical Co.), a Chinese refiner backed up by Aramco and operating its 80,000 bpd unit - the company's smallest – had shut down its...