Americas
US refiner HollyFrontier reports 91% drop in profit
Crack spreads, the difference between the prices of crude oil and refined products, have narrowed sharply due to a spike in distillate and gasoline inventories in the US.
Shell cuts spending further after BG deal, targets downstream moves
In a bid to slim down and raise cash, Shell is pressing ahead with a $30-billion asset disposal program by the end of 2018, targeting first and foremost its downstream division.
US gasoline stockpiles climb as refiners lift rates
Refinery crude runs rose 139,000 bpd as utilization rates rose by 1.6 percentage points. US East Coast refinery utilization rose to the highest level seasonally last week since at least 2010, the EIA said.
Colder winter could save US distillate fuel market
The good news for refiners and heating oil suppliers is that winter 2016/17 will almost certainly be colder, boosting demand in the months ahead.
Lower refining margins cut Valero’s profit in half
Refiners ramped up production in 2015, leading to higher inventories and weaker margins this year as demand softened during the mild winter.
US Gulf gasoline falls as Motiva restarts FCC unit
Traders and brokers noted that aside from planned or unplanned work, refiners are making fuels despite a sharp drop in margins from a year ago, when crude prices were higher.
Argentina’s ethanol producers prepare to boost output by up to 60%
In April, the government raised the amount of ethanol used by motorists by 2 percentage points to 12%. The move boosted the country's sugar industry, which has been battered by low prices.
Gulf Publishing finalizes management buyout, marks 100-year anniversary
The newly-independent company is retaining the Gulf Publishing name and will continue to publish its energy industry-leading magazines, including Hydrocarbon Processing.
Air Liquide upgrades, expands Houston complex
The project included upgrades to four state-of-the-art, energy efficient cogeneration units to increase production capacity and extend the life of the units by more than 20 years.
REG expands Illinois biorefinery’s logistics system
REG Danville recently purchased the tank complex at the adjacent Bunge Milling facility for $1.5 million. The tanks are being connected to REG Danville’s existing infrastructure and will increase the biorefinery’s storage capacity for feedstock by at least 950,000 gal and biodiesel by up to 12 million gal.
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