US oil refiners crank out diesel, further squeezing margins for gasoline
By Laura Sanicola and Stephanie Kelly WASHINGTON (Reuters) – U.S. oil refiners have cranked up output of diesel, heating oil and jet fuel for winter but are struggling to turn a profit…
Analysis-Asia’s refiners face profit crunch as Kuwait cuts crude exports
By Muyu Xu SINGAPORE (Reuters) – Asian refiners are on the hunt for crude oil to replace Kuwaiti supply as the OPEC producer cuts exports by nearly a fifth to feed its…
Refiners make hay as global profit margins rebound
By Mohi Narayan, Laura Sanicola and Ahmad Ghaddar NEW DELHI/WASHINGTON/LONDON (Reuters) – Global refiners are raking in hefty gains, fuelled by a rebound from second-quarter lows in margins on making oil products…
Analysis-End of Nigerian fuel subsidy set to squeeze Europe’s refiners
By Shadia Nasralla LONDON (Reuters) – One of Europe’s main markets for gasoline has shrunk, threatening to squeeze European refiners, after Nigeria removed fuel subsidies, which destroyed much of the country’s domestic…
U.S. refiners build new oil processing as travel rises
By Erwin Seba HOUSTON (Reuters) – U.S. oil refiners aim to run at up to 94% of a total 17.9 million barrels per day processing capacity this quarter, according to company forecasts…
U.S. refiners throttle back Q1 output after record 2022 runs
By Erwin Seba HOUSTON (Reuters) – U.S. oil refiners are dialing back operating runs this quarter after sky-high utilization rates last year, and aim to operate at between 85% and 89% of…
EXCLUSIVE: House Republicans Urge EPA To End ‘Completely Arbitrary’ Regulations On Small Fuel Refiners
EXCLUSIVE: House Republicans Urge EPA To End ‘Completely Arbitrary’ Regulations On Small Fuel Refiners Jack McEvoy on December 15, 2022 Republican Texas Rep. Chip Roy and 10 other Republican lawmakers on Thursday…
European refiners oversupplied as oil shortage fears subside
By Julia Payne and Ahmad Ghaddar LONDON (Reuters) – European refiners have found themselves oversupplied with crude as an expected shortage owing to the looming EU ban on Russian oil has yet…
China refiners slow down Russian oil purchases as sanctions near – trade
By Muyu Xu and Chen Aizhu SINGAPORE (Reuters) – Chinese refiners are slowing down Russian crude purchases in December and paying lower premiums in the face of imminent European Union sanctions and…
Chinese refiners seek less Saudi crude as demand weak
By Muyu Xu SINGAPORE (Reuters) – Several Chinese refiners have asked Saudi Aramco to reduce December-loading crude oil volumes, two sources close to the matter said, as COVID-19 restrictions and a faltering…
U.S. refiners eye Canadian oil once strategic reserve turns off taps
By Stephanie Kelly and Nia Williams NEW YORK (Reuters) – U.S. refiners are expected to buy more Canadian oil after the Biden administration ends releases from the Strategic Petroleum Reserve (SPR) this…
U.S. gasoline prices to keep falling as refiners keep making other products
By Laura Sanicola (Reuters) – Wholesale gasoline prices are expected to keep falling in coming months as U.S. refiners overproduce fuel to try to rebuild low stocks of diesel and heating oil,…
U.S. oil refiners, pipeline companies expect strong demand for rest of 2022
By Stephanie Kelly, Laila Kearney and Laura Sanicola NEW YORK – U.S. oil refiners and pipeline operators expect energy consumption to be strong for the second half of 2022, even though analysts…
U.S. fuel demand remains strong, despite recent data – refiners
By Laura Sanicola (Reuters) – Demand for transportation fuels remains strong despite mixed signals from inventory data collected by the U.S. Energy Information Administration (EIA), U.S. fuelmakers said on Thursday. Fears that…
Global gasoline cracks collapse, blow to refiners’ profits
By Mohi Narayan, Laura Sanicola and Shadia Nasralla (Reuters) – A sudden crash in global gasoline prices in the past two weeks has dented refiners’ profits, pushing up inventories in key trading…
U.S. refiners to urge White House not to ban fuel exports -sources
By Jarrett Renshaw and Laura Sanicola (Reuters) – U.S. refiners will try to convince the Biden administration not to ban exports of U.S. fuel to combat record gas prices during a meeting…
U.S imports of Latam oil soar as refiners replace Russian barrels
By Arathy Somasekhar HOUSTON – U.S. refiners imported about 1.3 million barrels per day (bpd) of crude and fuel oil from Latin America in April, the highest in seven months according to…
Europe refiners benefit from U.S. emergency oil stock releases
By Arathy Somasekhar and Stephanie Kelly HOUSTON – At least three vessels carrying crude oil from U.S. emergency stockpiles sailed for Europe in April as refiners there scrambled to replace Russian crude…
China oil imports rebound in April, but weak fuel demand weighs on refiners
By Chen Aizhu SINGAPORE – China’s crude oil imports grew nearly 7% in April from the same month a year earlier, its first rise in three months, although weakening fuel demand due…
U.S. refiners set for strong start to 2022 as fuel prices surge worldwide
By Laura Sanicola (Reuters) – U.S. oil refiners expect strong first-quarter earnings as margins to sell gasoline and diesel strengthened due to a steep dropoff in refining capacity and crude oil supplies…
Russian oil refiners signal deeper cuts to refinery runs amid overstocking
(Reuters) – Major Russian oil refiners have told the Energy Ministry they expect to make deeper cuts to refinery runs in the coming weeks due to overstocking after a sharp drop in…
Australian refiners cease purchase of Russian crude oil, voice support for Ukraine
– Australian refiner Viva Energy said on Tuesday it would stop buying Russian crude oil, joining a growing number of companies to sever trade ties with the country over its invasion of…
Oil refiners offer union workers 9% pay raise over three years -sources
HOUSTON – U.S. oil refiners have offered union oil and chemical workers a 9% pay raise over three years, according to people familiar with the matter, as talk on a new labor…
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