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By Nicole Jao NEW YORK, Jan 22 (Reuters) – Top U.S. oil refiners are expected to post stronger fourth-quarter profits as product margins spurred by the ongoing Russia-Ukraine war boosted earnings, energy analysts said. Fuel makers have reaped unexpected profits this year, after from record levels in 2022, a year when a recovery in demand …
US Refiners Poised for Higher Q4 Profit, Venezuela in Focus Read More »
(Reuters) – Cenovus Energy’s 172,000-barrel-per-day Lima, Ohio, refinery experienced mechanical issues caused by a major winter storm that hit much of the United States over the weekend, industry monitor IIR Energy said on Monday. The refinery experienced mechanical issues brought about by the storm on Sunday, IIR Energy said, adding that efforts to fix the …
Houston firms eye Venezuela’s vast oil reserves amid political uncertainty Smaller investors see Venezuela as high-risk, high-reward opportunity US sanctions complicate oil trade, investment in Venezuela (Reuters) – In a downtown Houston bar, Matthew Goitia, a director at Pelorus Terminals, lays out his early idea to refurbish and build marine terminals that can blend and …
US Oil Capital Houston Buzzes as Industry Limbers up for Venezuela Oil Rush Read More »
By Nicole Jao NEW YORK, Jan 21 (Reuters) – U.S. refineries are preparing for extreme cold weather as an unexpected Arctic blast rolls in, threatening to disrupt operations. A cold front will bring frigid temperatures to the eastern two-thirds of the country, the National Weather Service said on Wednesday, expecting sub-zero lows to spread from …
US Refineries Brace for Disruptions as Arctic Blast Hits Read More »
(Reuters) – U.S. oil refiners are expected to have about 724,000 barrels per day of capacity offline in the week ending January 16, decreasing available refining capacity by 450,000 bpd, research company IIR Energy said on Friday. Offline capacity is expected to rise to 1.1 million in the week ending January 23, IIR said. The …
US Oil Refiners’ Weekly Capacity to Fall by 450,000 Barrels Per Day, IIR Energy Says Read More »
(Reuters) – Refineries along the U.S. Gulf Coast from Corpus Christi, Texas to Pascagoula, Mississippi are configured to run the heavy sour, corrosive crude oil produced by Venezuela that President Donald Trump plans to sell in the U.S., following the capture last weekend of Nicolas Maduro. Beginning in the 1990s, refiners reconfigured their plants with …
US Gulf Refineries Ready to Run Venezuelan Crude Read More »
By Arathy Somasekhar and Georgina Mccartney US Gulf Coast refiners set to benefit if Venezuelan sanctions end Canadian crude will lose pricing power if Venezuelan oil flows freely Chinese independent refineries will seek alternatives if Venezuelan crude is redirected HOUSTON, Jan 6 (Reuters) – A full-scale resumption of Venezuelan oil exports would benefit refiners in …
Venezuelan Oil Would Boost US Refiners, Hurt Canadian Producers Read More »
Refiner Phillips 66 said on Tuesday in a Goldman Sachs conference that it has two Gulf coast refineries which can turn and process Venezuela crudes as they ramp up. Reporting by Vallari Srivastava and Pooja Menon in Bengaluru; Editing by Tasim Zahid
By Marianna Parraga Sale, expected to close in 2026, needs OFAC approval Citgo’s refineries provide stable earnings throughout the year Amber expected to shake up Citgo’s board Some contractors might become permanent employees after deal HOUSTON, Dec 1 (Reuters) – Elliott Investment Management’s affiliate Amber Energy plans to keep Citgo Petroleum’s refineries, terminals and other …
Amber Energy Plans to Hold on to Citgo Refineries After Takeover Read More »
(Reuters) – BP’s 440,000-barrel-per-day oil refinery in Whiting, Indiana, has returned to normal operations following a planned maintenance turnaround in September and a fire in October, two sources said. The largest refinery in the U.S. Midwest returned to normal operations early this week, the sources said. A BP spokesperson declined on Wednesday to comment on …
BP’s Whiting Refinery Returns to Normal Operations After October Fire Read More »
