Valero Shuts Texas Refinery After Explosion Rocks Diesel Unit, Sources Say

Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries, US News / By

Valero shuts Texas refinery after explosion rocks diesel unit, sources say Reuters Valero Energy Corp has shut its 380,000-barrel-per-day (bpd) oil refinery in Port Arthur, Texas, following an explosion and fire at a diesel hydrotreater unit, people familiar with the plant operations said on Monday. The explosion at the 47,000-bpd 243-diesel hydrotreater unit rocked the …

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Iran War Deals Harder Blow to Natural Gas Than Oil: Maguire

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  At first glance, the Iran war appears to be hitting oil and gas with equal force, as missiles, drone strikes and shipping disruptions choke flows through the Strait of Hormuz. But beneath that surface symmetry lies a critical imbalance. The global gas supply chain has fewer rerouting options and less storage capacity than the …

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Shell Concerned Iran War Will Impact Long-Term Confidence in LNG Supply

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  Shell is concerned that the Iran war could impact long-term confidence in the affordability and security of natural gas supplies, said the company’s president of integrated gas, Cedric Cremers. “These geopolitical shocks…send the wrong signals to customers around the long-term fundamentals of gas,” Cremers said at the CERAWeek conference in Houston. The conflict has removed …

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India’s Reliance Buys 5 Million Barrels of Iranian Oil After US Waiver, Sources Say

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  (Reuters) – India’s Reliance Industries, operator of the world’s biggest refining complex, has purchased 5 million ​barrels of Iranian crude, days after the U.S. temporarily removed sanctions on ‌the oil, three sources familiar with the matter said on Tuesday. The Indian refiner bought the oil from the National Iranian Oil Co., two of the sources …

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OIL RISES as Supply Disruption Persists and Iran Denies US Talks

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Summary Trump says US, Iran have ‘major points of agreement’ Iran rejects claim of contact with Washington Macquarie says Brent could hit $150 if Hormuz shut through April (Reuters) – Oil rose on Tuesday as the world’s ‌biggest supply disruption persisted and as Iran denied it had talks with the U.S. to end the war in the …

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Oil Execs Warn of Long-Term Damage From Iran War as US Downplays Crisis

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(Reuters) – Some of the world’s top oil executives and energy ministers in Houston on Monday expressed growing concern over the long-term effects of the U.S.-Israel war with Iran on the global economy, while the U.S. Energy Secretary Chris Wright downplayed the crisis. The war has caused one of the biggest disruptions to energy supplies …

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Iran War Disruption Beyond 3-4 Months Poses Systemic Risk to Global Economy, Total CEO Says

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(Reuters) – A disruption to global energy supplies from the U.S.-Israeli war on Iran lasting beyond three to four months would pose a systemic risk to the global economy, TotalEnergies CEO Patrick Pouyanne said on Monday. The disruption to global fuel supplies is worse than the disruption to crude oil supplies because it has been …

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Canada’s Pipeline Plan Attracts Middle Eastern, Asian Interest, Alberta Premier Says

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By Amanda Stephenson Middle Eastern, Asian investors show interest in Canadian pipeline Alberta to submit pipeline proposal for federal fast-tracking in June Regulatory hurdles and carbon pricing policy impact pipeline feasibility HOUSTON, March 23 (Reuters) – Middle Eastern and Asian investors have expressed early-stage interest ​in a potential new crude oil pipeline in Canada and …

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US Energy Chief Tells CNBC a Further SPR Oil Release is Unlikely

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WASHINGTON, March 23 (Reuters) – The United States is “highly unlikely” to release more oil from its Strategic ​Petroleum Reserve to calm energy markets during ‌the war with Iran, U.S. Energy Secretary Chris Wright told CNBC on Monday. The U.S. was looking at a variety of other ​levers to try to bring down prices, he …

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Mideast Situation Shows Need for Energy Diversification, Says Cheniere CEO

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By Curtis Williams Jack Fusco, President and CEO of Cheniere Energy during the CERAWeek energy conference in Houston, Texas, U.S., March 7, 2023. HOUSTON, March 23 (Reuters) – The situation in the Middle East shows ​the need for diversity in energy supplies, ‌Jack Fusco, CEO of Cheniere Energy (LNG.N), the nation’s largest U.S. liquefied natural …

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