Refineries

(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 »

By Arathy Somasekhar Cold weather impacts about 1.8 mln barrels of Permian output – analyst Midwest refiners seek Midland crude to cut dependency on Canadian light – analyst U.S., Europe refinery maintenances cut demand at the coast Narrow price differential between WTI Midland and MEH expected to be temporary – analysts to be temporary – …

Weak Refinery, Export Demand Weakens Prices for Midland Crude Along Texas Coast Read More »

(Reuters) – Lyondell Basell Industries’ will lay off 345 workers, or 86% of the workforce, at its shuttered Houston refinery on April 17, according to a filing with the Texas Workforce Commission. There are around 400 Lyondell employees working at the 263,776 barrel-per-day Houston refinery. About 70% of them are hourly workers represented by the …

Lyondell to Lay Off 86% of Workforce at Shuttered Houston Refinery, Filing Shows Read More »

Activist Elliott Investment Management has built an over $2.5 billion stake in U.S. oil refiner Phillips 66 and plans to push for operational changes to boost its stock price, the Wall Street Journal reported on Monday. Elliott plans to push Phillips 66 to sell or spin off its big midstream business as it plans to …

Activist Elliott Builds Over $2.5 Billion Stake in Phillips 66, WSJ Reports Read More »

Lyondell Basell Industries completed the final shutdown of its 263,776 barrel-per-day Houston refinery, people familiar with plant operations said on Friday. Lyondell began the previously announced shutdown of the refinery on January 27. Lyondell, in an emailed statement on Friday night, declined to discuss the status of the refinery. Some units at the refinery are …

Lyondell Completes Shutdown of Houston Refinery, Sources Say Read More »

Summary Valero to kick off Q4 US refiner earnings on Thursday Soft fuel demand continues to weigh on Q4 refining margins US gasoline futures crack spread hit one-year low in December Investors to focus on refiners’ plans to limit impact of Trump’s tariffs (Reuters) – Wall Street is bracing for a sharp decline in U.S. …

Wall Street Braces for Oil Refiners’ Lower Q4 Earnings, Tariff Plans Read More »