Petrochemicals

Petrochemicals

US Refining Capacity Shrinks as Pandemic Shuts Plants

The largest crude oil refiner in the U.S., Marathon Petroleum, shut three refineries while energy major Royal Dutch Shell and independent refiner HollyFrontier each shut one in 2020.

June 28, 2021

Business , Petrochemicals , Energy Transition , Acquisitions & Divestitures

Mexico’s Pemex Buys Out Partner of Deer Park Refinery in Texas

Operated by Shell, the Deer Park complex in Texas includes a petrochemical complex and it also refines crude from Africa, South America and the United States.

May 24, 2021

Petrochemicals , Crude Oil

Texas Oil Refiners Will Take Weeks to Recover From Winter Storm

The refinery shutdowns will depress prices for U.S. crude oil and widen the spread between U.S. and Brent crude, Paul Sankey of independent energy researcher Sankey Research said.

February 19, 2021

Investment , Petrochemicals , Energy Transition , Midstream

PTT Seeks Partner for Appalachia Ethane Cracker in Ohio

The team said it was also in the process of meeting with members of President Joe Biden’s administration to brief them on the benefits of the proposed petrochemical plant in Ohio that will turn ethane into plastics.

February 8, 2021

Petrochemicals , Natural Gas , Crude Oil , Trade , Energy Transition

EIA: US Energy Consumption Could Take 30 Years to Recover

It will take a while for the energy sector to get to its new ‘normal,’ says the EIA Acting Administrator in the U.S. agency’s annual outlook clouded by the COVID-19 pandemic.

February 3, 2021

Petrochemicals , Storage , Construction

Enterprise, Navigator Begin Service on Houston Ship Channel Ethylene Storage Tank

The new ethylene storage tank will facilitate faster loading and enable the Morgan’s Point terminal, owned 50/50 by affiliates of Enterprise and Navigator, to reach an annual nameplate export capacity of 1 million tons per year

December 29, 2020

Petrochemicals , Crude Oil , Trade , Storage

US Crude Oil Stockpiles Soar amid Record Surge in Net Imports

Crude oil inventories in the U.S. rose by 15.2 million barrels in the week to Dec. 4 to 503.2 million barrels, the largest build in crude inventories since April.

December 9, 2020

Petrochemicals , Midstream

Magellan Midstream to Boost Fuel Loading Capacity in Cheyenne, Wyoming

Magellan Midstream Partners said on Dec. 2 it will invest about $4.65 million to increase truck loading capacity at its refined oil products Cheyenne terminal in Wyoming by more than 50%.

December 2, 2020

Petrochemicals , Crude Oil , Trade , International

What’s Affecting Oil Prices This Week? (Nov. 23, 2020)

The world witnessed the long-waited announcements related to successful trial results of several vaccines, which are the preliminary requisite for quick regulatory approvals that will then translate into mass production and distribution. 

November 23, 2020

Petrochemicals , Crude Oil , Trade , International

What’s Affecting Oil Prices This Week? (Nov. 16, 2020)

There are three additional variables which oil markets are not used to deal with in the fourth quarter: the current infections uptick in Europe, the U.S. presidential transition and announcements about new vaccines, all of them adding bearish or bullish pressure to prices over the next few months.

November 16, 2020