Crude oil
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.
Improve refinery margins with new crude selection concept
A refinery with an active crude selection strategy encompassing dedicated staff, preapproval of all new crudes and an updated crude acceptance window can gain $0.5/bbl–$1/bbl vs. a more passive strategy.
Managing the recovery from the Jaipur oil terminal fire
In October 2009, a devastating fire at the oil terminal in Jaipur, India, killed 11 people, injured many more and incurred a significant financial loss.
- Valmet to acquire Severn Group to strengthen Process Performance Solutions segment 12/22
- World’s first dynamic green ammonia plant starts operations in Denmark 12/22
- Baker Hughes to supply liquefaction equipment for Commonwealth LNG export project 12/22
- South Korea petrochemical firms on track to cut up to 3.7 MM tons of output 12/22
- MOL and JERA sign HoAs for the charter of ammonia carriers 12/22
- China's November fuel oil imports up 15% from October 12/22
