Refineries

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US Refiner Valero Posts Record Quarterly Profit as Supply Disruptions Boost Margins

Conventional Energy, Diesel Fuel, Energy Topics & Technology, Gasoline, Latest, LNG, Natural Gas, Oil, Refineries, US News / By

By Nicole Jao and Vallari Srivastava Adjusted profit reaches record $23.90 per share, up 553% from a year earlier Refining margin per barrel nearly triples to $39.24 in third quarter Valero plans fourth-quarter refinery runs at 96% to 99% ​of capacity NEW YORK, Oct 22 (Reuters) – Refiner Valero Energy (VLO.N) kicked off earnings ‌season …

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US Refiners Have Run Harder in 2026 as Tight Diesel Supplies Boost Margins, EIA Says

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

(Reuters) – The US Energy Information Administration said on Thursday that US refiners have maintained higher-than-normal run rates this year, buoyed by strong margins stemming from tight global supplies of refined fuel products. Refinery utilization has averaged more than 95% of capacity between May and September, the highest for those months since 1998, the EIA …

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Phillips 66 Locks Out Union Workers at New Jersey Refinery After Contract Expires

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

(Reuters) – Phillips 66 has barred nearly 400 union workers from its Bayway refinery in Linden, New Jersey, after the collective bargaining agreement and an extension of the contract expired. The labor dispute at Bayway, the largest refinery on the U.S. East Coast, comes as gasoline and diesel prices remain elevated amid disruptions to global …

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Asian Refiners Use Smaller Tankers, Buy Delivered Crude as Freight Rates Soar

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries / By

(Reuters) – Asian refiners are turning to options such as using smaller tankers and vessels on long-term charter, and buying Middle East crude on delivered basis to cut feedstock costs as freight rates hover near records, company officials said. Spot rates for oil tankers hit all-time highs in early October as Middle East producers ramped …

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ExxonMobil Signals $4.5 Billion Refining Earnings Boost as Margins Soar

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, Pinned Primary, Refineries, US News / By

(Reuters) – ExxonMobil signaled on Friday that higher refining margins during the third quarter could boost its downstream profit by $4.5 billion compared with the previous three months. Refining margins have soared due to the ongoing Iran war, which has restricted energy exports through the Strait of Hormuz, as well as Ukrainian attacks on Russian …

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BP Proposes Six-Year Labor Contract at Whiting Refinery

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

(Reuters) – BP said on Tuesday it is proposing a six-year labor contract for workers at its 440,000-barrel-per-day Whiting refinery in Indiana as negotiations with United Steelworkers (USW) Local 7-1 continue. The company said the six-year term would provide stability for the refinery and employees. “6-year term would give you certainty in your pay, your …

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US Refiner Phillips 66 is Using AI to Predict Outages and Boost Processing, Executive Says

Artificial Intelligence, Energy Topics & Technology, Latest, Refineries, US News / By

(Reuters) – Phillips 66 is using artificial intelligence to predict outages within its refining systems, save on maintenance costs and increase crude processing, said Tandra Perkins, an executive vice president at the US refiner. “I need my systems up more than they’re down, being able to predict that obviously saves on maintenance costs,” Perkins said …

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BP Conducts Planned Operational Activities at 440,000-bpd Whiting Refinery

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

(Reuters) – Bp is conducting planned operational activities at 440,000-bpd whiting refinery over the next several days, the company said. “We expect these activities to include planned flaring that may be visible or audible to those nearby the refinery over this period,” the company said in a social media post. Reporting by Nicole Jao in …

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China Independent Refiners Scramble for Oil, Underpinning Spot Premiums

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries / By

(Reuters) – Chinese independent refiners have been rushing to secure crude from West Africa, Canada and South America in recent weeks, supporting spot premiums at multi-month highs as they replace thinning Iranian and Russian supplies, trade sources and analysts said. The purchases are set to further tighten physical markets as escalating attacks between the U.S. …

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Marathon Petroleum Beats Quarterly Profit Estimates on Refining Margin Boom

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

(Reuters) – Marathon Petroleum’s  ​quarterly profit beat Wall Street’s ‌estimate on Tuesday, as fuel supply disruption from the U.S.-Israeli war ​on Iran pushed refining margins ​to multi-year highs. Shares of the ⁠refiner rose around 2% in premarket trade. Refining ​margins for gasoline, diesel and ​jet fuel soared after the effective closure of the Strait of Hormuz …

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