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Americas

Valero expects lower refinery utilization as margins tank

Valero Energy Corp. expects lower refinery utilization over the rest of the year as companies step up efforts to counter slumping refining margins caused by record supplies of gasoline and diesel products.

Bechtel to upgrade Texas refinery for ExxonMobil

Expansion of ultra-low sulfur product slate anticipated to be complete in 2018.

ExxonMobil to expand ultra-low sulfur fuels production at Beaumont refinery

ExxonMobil plans to increase production of ultra-low sulfur fuels at its Beaumont refinery by approximately 40 Mbpd.

Husky shuts pipeline indefinitely after Canadian oil spill

Husky Energy Inc. has indefinitely closed a pipeline that leaked oil into a major Canadian river.

Pemex says Cadereyta refinery partially restarted

Pemex’s Cadereyta refinery partially restarted operations Sunday, allowing it to resume production.

Refiner Valero's profit beats but margins stay under pressure

US refiner Valero Energy Corp. reported a quarterly profit that beat analysts' reduced estimates, even as the company's refining margin continued to be gutted by a spike in gasoline and distillate inventories.

Pemex to speed fuel imports as refinery closure continues

Mexico's state-owned oil company, Pemex, will speed up already scheduled fuel imports as the complete shutdown of its fourth-largest refinery enters its fourth day.

US refiners switch to winter brew

In a summer of discontent with high inventories and an unseasonably weak demand, some refiners have started blending winter grade gasoline earlier than usual to sell later in the year.

US refinery margins rise in three of five regions

Credit Suisse’s weekly report says refining margins increased in three of the five US petroleum districts for the week of July 15.

Pemex Tula refinery briefly halts production after power outage

A power outage Pemex’s second biggest refinery briefly interrupted production, but the company expects no long-term effects.