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Governor Gavin Newsom’s latest outreach to the Golden State’s oil companies may be too late to arrest a steady decline in gasoline production. By Nathan Risser Californians are accustomed to paying the highest gasoline prices in the US. That trend likely will continue because of the state’s reliance on a dwindling fleet of oil refineries. …
California Drivers Are Paying Up as Refineries Disappear Read More »
By Ron Bousso Global refining profit margins above 2024 levels Traders refilling depleted diesel inventories after cold winter Gasoline demand set to rise ahead of summer LONDON, May 8 (Reuters) – Global oil refineries’ strong profit margins signal healthy oil consumption today, a stark contrast with the grim long-term demand outlook. Sentiment in the oil …
Oil Refiners’ Robust Profits Defy Souring Outlook Read More »
By Julian Lee and Alex Longley When US President Donald Trump was inaugurated to his second term as president on Jan. 20, oil prices were close to the highs of the summer before. By early May, they had plunged by nearly a quarter. That’s for two big reasons: Trump’s trade war is driving down economic …
How Tariffs and OPEC+, Oddly Enough, Are Driving Down the Price of Oil Read More »
DALLAS, May 5, 2025 /CNW/ — Sunoco LP (NYSE: SUN) (“Sunoco” or the “Partnership”) and Parkland Corporation (TSX: PKI) (“Parkland”) announced today that the parties have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately $9.1 billion, including assumed debt. As part of the …
Sunoco LP to Acquire Parkland Corporation in Transaction Valued at $9.1 Billion Read More »
(Reuters) – BP’s 440,000-barrel-per-day (bpd) refinery in Whiting, Indiana, shut the reformer unit last weekend, trading sources said. The company did not immediately respond to Reuters’ requests for comment. The Whiting refinery, the largest in the U.S. Midwest, produces a wide range of liquid fuels, including gasoline, diesel and jet fuel. Reporting by Nicole Jao …
(Reuters) – Lyondell Basell Industries permanently shut its 263,776 barrel-per-day (bpd) Houston refinery in February, said Peter Vanacker, the company’s chief executive during a Friday conference call. Reuters reported on Feb. 7 the company completed the shutdown of the refinery. Lyondell first announced plans in 2023 to shut the refinery, which has been in operation …
Lyondell Houston Refinery Ceased Operations in February, Company Says Read More »
(Reuters) – Phillips 66 reported a bigger-than-expected loss for the first quarter on Friday, hurt by lower refining margins amid widespread maintenance and turnaround activities across the U.S. refining sector. U.S. refineries typically undergo seasonal maintenance and turnaround activities in preparation for the summer driving season, when fuel demand significantly increases. However, this scheduled downtime …
US Refiner Phillips 66 Posts Bigger-Than-Expected Quarterly Loss on Lower Margins Read More »
By Nicole Jao Investors keep focus on impact from Trump’s sweeping tariffs Analysts expect top refiners to report lower Q1 profits Earnings under pressure due to heavy maintenance, unplanned outages in Q1 Refining margins showed signs of improvement Trade wars dent refined product demand outloook NEW YORK, April 23 (Reuters) – Investors are expecting top …
US Oil Refiners’ Q1 Profits Likely Fell Despite Stronger Margins Read More »
*Light US crude requires a different configuration at refineries *Changing refinery setup can be a lengthy and expensive process *Running different crude types impacts refinery yields, margin By Arathy Somasekhar U.S. refiners are not planning to make big-ticket investments to process more domestic crude and less oil from top suppliers Canada and Mexico, industry sources …
US Refiners UNLIKELY to Spend Big to Process More Domestic Oil Read More »
(Reuters) – Shares of U.S. refiners fell to two-year lows on Friday in the wake of U.S. President Trump’s announcement of new tariffs, as fears of slower oil and fuel demand and weakening refining margins rattled investors. Top refiners Marathon Petroleum, Valero Energy and Phillips 66 have shed more than $20 billion in market capitalization …
Refining Stocks Plunge to Near Two-Year Lows as Trump Tariffs Spur Demand Worries Read More »
