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.
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.
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.
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.
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.
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
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.
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%.
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.
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.