Americas
Refiner Valero's profit beats but margins stay under pressure
US refiner Valero Energy Corp. reported a quarterly profit that beat analysts' reduced estimates, even as the company's refining margin continued to be gutted by a spike in gasoline and distillate inventories.
Pemex to speed fuel imports as refinery closure continues
Mexico's state-owned oil company, Pemex, will speed up already scheduled fuel imports as the complete shutdown of its fourth-largest refinery enters its fourth day.
US refiners switch to winter brew
In a summer of discontent with high inventories and an unseasonably weak demand, some refiners have started blending winter grade gasoline earlier than usual to sell later in the year.
US refinery margins rise in three of five regions
Credit Suisse’s weekly report says refining margins increased in three of the five US petroleum districts for the week of July 15.
Pemex Tula refinery briefly halts production after power outage
A power outage Pemex’s second biggest refinery briefly interrupted production, but the company expects no long-term effects.
PTT postpones FID on Ohio ethane cracker project
Even though PTT has postponed their FID on the Ohio ethane cracker project, preparation for the site is still underway.
Novatek ships first LNG cargo
Novatek has supplied its first LNG cargo sourced from the Trinidad & Tobago LNG plant, to Chile, port Quintero.
Cruel summer for US refiners as margins tank
Summer driving season is in full swing and American motorists are filling their tanks at a healthy clip, but that is not swelling the profit margins as much as usual at US independent oil refiners.
Delta cuts output at Philadelphia-area refinery
Delta Air Lines has cut production rates by roughly 16% at its Philadelphia-area refinery as refining margins have fallen below their ten-year average for this time of year.
Shell seeks $2 B from Aramco in Motiva JV breakup
Royal Dutch Shell has asked Saudi Aramco for up to $2 B as part of the breakup of their giant Motiva Enterprises refining joint venture in the United States.
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