Oil Giants Set Health Checks, Work-from-home Rules
Major energy companies in the United States imposed work-from-home rules for office staff and began health checks for remote or critical workers as coronavirus spread and threatened an industry reeling from falling demand and profits.BP, Exxon Mobil, Kinder Morgan, Motiva Enterprises…
Flooding Disrupts U.S. Gulf Coast Energy Operations
Energy infrastructure on the U.S. Gulf Coast was hit hard by Tropical Storm Imelda on Thursday, as flooding forced a major refinery, a key oil pipeline, terminals and a ship channel in Texas to shut, according to sources familiar with operations.Torrential rain has inundated the…
Exxon Green Lights Mega Refinery Expansion
Exxon Mobil Corp has given final approval to an expansion that would nearly double the size of its 365,000 barrel-per-day (bpd) Beaumont, Texas, refinery, making it the largest in the United States, said two people familiar with the company's plans.The largest U.S. oil producer…
Motiva Port Arthur Refinery Restarting Large Crude Unit
Motiva Enterprises began restarting on Tuesday afternoon the large crude distillation unit (CDU) at its 603,000 barrel-per-day (bpd) Port Arthur, Texas, for the second time this week, said sources familiar with plant operations. The 325,000 bpd VPS-5 CDU was shut in early February as part of a planned multi unit overhaul.
Europe Gasoline/Naphtha-Cracks Hit two-year Low
Gasoline refining margins in northwest Europe dropped to a two-year low on Monday even as substantial volumes traded on European barge markets. The highest volume of gasoline barges in nearly seven years traded on Monday, brokers told Reuters, with 48,000 tonnes changing hands.
Saudi Arabia Limits US Crude Shipments, Iraq Steps In
Saudi Arabia's efforts to reduce a worldwide crude supply glut by cutting shipments to the United States means others are now filling in, most notably Iraq, in a trend that is set to accelerate in coming months. Over the summer, normally one of the busiest periods for crude shipments, U.S.
Shell Backtracks on Convent Refinery Closing
Royal Dutch Shell Plc has canceled a plan to permanently close the gasoline-producing unit at its 227,586 barrel-per-day (bpd) Convent, Louisiana, oil refinery, two sources familiar with plant operations said on Thursday. A spokesman for Shell's U.S. operations was not immediately available for comment early on Thursday.
US Fuel Exports Recover after Harvey
Fuel exports from the U.S. Gulf Coast are rising rapidly as refineries recover from weeks of disruptions due to Hurricane Harvey, offering respite to buyers in Latin America and Europe. The gradual resumption of operations in the region that has become a major oil export hub has…
Fuel Shortages from Harvey to Hamper Labor Day Travel
Travelers and fuel suppliers across the United States braced for higher prices and shortages ahead of the Labor Day holiday weekend as the country's biggest fuel pipelines and refineries curb operations after Hurricane Harvey. Just six days after Harvey slammed into the heart of the U.S.
Largest US Refinery May Be Shut for up to Two Weeks
Motiva Enterprises' Port Arthur, Texas refinery, the nation's largest, may be shut as long as two weeks for assessment of the plant and repair of any damage, sources familiar with plant operations said on Thursday. The 603,000 barrel per day (bpd) Port Arthur Refinery was shut on Wednesday due to flooding from Tropical Storm Harvey.
U.S. Gulf Coast Energy Infrastructure Shuttered by Harvey
Tropical Storm Harvey made landfall in Louisiana early on Wednesday after hammering Texas, threatening more infrastructure in the heart of the U.S. oil and natural gas industry. The U.S. National Hurricane Center said Harvey came ashore just west of Cameron, Louisiana, and was expected to weaken to a tropical depression by Wednesday evening.
Harvey's Rains Shut in More Refineries, Sending Fuel Prices Higher
U.S. fuel prices surged on Monday as two more Gulf Coast refiners cut output and a third considered reductions, leaving more than 13 percent of the country's refining capacity offline after Tropical Storm Harvey flooded plants and shut seaports. The storm swung back over the Gulf…
Harvey Throws a Wrench into US Energy Engine
A hurricane in the heart of the U.S. energy industry is expected to upend years of U.S. excess oil capacity and low prices, with the impact expected to reverberate globally and affect energy markets for weeks. Harvey hit the Texas shore as a fierce Category 4 hurricane, causing massive flooding that knocked out 11.2 percent of U.S.
Oil Traders Brace for US Gulf Coast Storm
Oil traders from Texas to Louisiana braced on Tuesday for supply disruptions as Tropical Storm Cindy, formed in the U.S. Gulf of Mexico, threatened to hit refining and production centers with wind and rain later this week. Cindy was located about 265 miles (430 km) south of Morgan City…
Shell's Profit Surges As Oil Sector Rebounds
Royal Dutch Shell said net profit more than doubled in the first quarter, joining its peers in beating analyst forecasts as rebounding oil prices and refining margins lifted revenue after a near three-year downturn. A 55 percent rise in oil prices from a year ago and deep cost cuts boosted cash generation…
Lyondell's Houston Refinery Draws Bids from Aramco, Valero, Sunco
At least three firms including Saudi Arabian state oil giant Saudi Aramco have bid over $1 billion for LyondellBasell Industries NV's refinery in Houston, according to four people familiar with the process. The Saudi firm was initially seen as the front-runner among bidders that also included Valero Energy Corp and Suncor Inc…
Big Dakota Pipeline to Upend Oil Delivery in US
It may seem odd that the opening of one pipeline crossing through four U.S. Midwest states could upend the movement of oil throughout the country, but the Dakota Access line may do just that. At the moment, crude oil moving out of North Dakota's prolific Bakken shale to "refinery row" in the U.S.
Oil Majors Look to Shed Refineries
Chevron solicits interest in Burnaby, British Columbia refinery; Shell seeks buyer for Martinez, California plant. Global oil majors Chevron Corp and Royal Dutch Shell Plc are putting small refineries on the auction block as they look to trim lower-margin assets in the face of headwinds from rising crude oil prices.
Total No Longer Seeking Buyer for Texas Refinery Stake
Total SA has decided not to sell a 50 percent stake in its Port Arthur, Texas, refinery almost a year after it retained investment bank Lazard to advise on the deal, according to three people familiar with the matter. The move is a shift for Total, which has considered selling refineries over the last several years.
Shell, Aramco U.S. Refining Breakup Lets Both Pursue Ambitious Goals
The breakup of Royal Dutch Shell's and Saudi Aramco's giant U.S. refining joint venture draws a line under an often rocky relationship and allows Aramco to accelerate an ambitious public offering and Shell to push ahead with a large asset sale. The two energy giants' plan to dissolve…
