Crude oil
Industry Metrics
Asian margins showed a strong recovery due to higher winter heating fuel demand, supporting middle distillate crack spreads.
HP Global: Forthcoming tax hike could hamper Russian refining
Russia plans to increase the volume of oil it refined this year, despite Western sanctions and the ever-deteriorating business environment, according to an official spokesperson for Alexander Novak, Russia’s minister of energy.
HP Viewpoint: Interesting times to continue for refiners in 2016
A year ago in this publication, John England and Ashnu Mittal were prescient in their article titled “US shale revolution set to spill over into downstream.”
HP Industry Metrics
Global refinery margins fell due to the expectations of a mild winter and an oversupply environment.
US fuel exports rise as record refinery production exceeds local demand
US production of all four major products -- gasoline, distillate, jet fuel and residual fuels -- was higher than deliveries for those products, so refined products were exported, the API explained.
Total secures €400MM upgrade to Donges refinery
“With the agreement, we confirm our plan to invest €400 million in the upgrade and expand the facility’s gasoline production capacity for the European market," said Total's president.
HP Industry Metrics
A sharp drop in the gasoline crack spread following the end of the US driving season and increasing inventories caused refinery margins to fall.
HP Innovations
Ingersoll Rand debuted its TURBO-AIR NX 8000 integrally geared centrifugal compressor at the Turbomachinery & Pump Symposia show in Houston, Texas in September.
Chevron lifts downstream results as margins rise
Downstream earnings in the third quarter improved in both the US and internationally for Chevron, with overall profit from refining oil into fuels jumping 59% to $2.2 billion.
Chevron extends job cuts to trading desks
Chevron will cut staff on its global energy trading desks, making it the latest unit to face reductions as part of a $3 billion cost-saving plan brought on by weak crude oil markets.
- Hydrocarbon Processing launches AI platform to accelerate decisions in the downstream sector 7/7
- Digital Feature: The critical interdependency of relief valve analysis and flare system considerations during HAZOP 7/7
- Trafigura to use Babcock's ammonia fuel supply system onboard gas carriers 7/7
- Lotte Chemical Titan secures $3-B ethylene supply deal in Indonesia 7/7
- Diesel East-West price spread nears 1.5-yr high amid supply concerns West, stable East 7/7
- U.S. Gulf Coast fuel oil imports at record low as refiners opt for heavier crude 7/7
