Gasoline
Industry Metrics
US product markets weakened despite unseasonably strong gasoline demand, and the gasoil crack spread hit the lowest level seen in more than five years, under pressure from increasing supplies amid thin demand due to warmer winter weather.
Pakistan to pay rising cost for gasoline imports
The offers for the 87-octane grade gasoline were at least 24% higher than Pakistan State Oil paid for a total of 450,000 tons of gasoline for December to January delivery.
China’s diesel use falls as gas, gasoline post gains
The 3.7% decline in diesel demand in 2015 is greater than the 1.5% drop in diesel usage in 2014. Meanwhile, gasoline and natural gas consumption rose by 7% and 5.7%, respectively.
US gasoline inventories rise more than expected, but distillate fuels fall
Crude inventories rose by 4 million bbl for the week, compared with analysts' expectations for an increase of 2.8 million bbl. Oil inventories climbed to the highest level since 1990.
Tesoro to expand fuel sales network in Nevada
The region is strategic for Tesoro, as it provides supply flexibility from Tesoro's Los Angeles and Salt Lake City refineries and establishes a platform for the expansion of its ARCO and Mobil brands.
Industry Metrics
Asian margins showed a strong recovery due to higher winter heating fuel demand, supporting middle distillate crack spreads.
Sunoco buys US fuels distributor from Alta East
The business distributes 55 million gal/year of branded and unbranded gasolines, including Sunoco-branded fuels. The transaction also included supply contracts with the dealer-owned and operated sites.
HP Global: Forthcoming tax hike could hamper Russian refining
Russia plans to increase the volume of oil it refined this year, despite Western sanctions and the ever-deteriorating business environment, according to an official spokesperson for Alexander Novak, Russia’s minister of energy.
HP Viewpoint: Interesting times to continue for refiners in 2016
A year ago in this publication, John England and Ashnu Mittal were prescient in their article titled “US shale revolution set to spill over into downstream.”
HP Industry Metrics
Global refinery margins fell due to the expectations of a mild winter and an oversupply environment.
- Valero Energy Q4 profit beats estimates; shares surge 1/30
- Dow launches "Transform to Outperform" to raise the competitive industry benchmark for productivity and growth to enable improved returns 1/30
- Russian oil refineries' peak maintenance expected in January and September 1/30
- U.S. lifts some Venezuela sanctions to ease oil sales 1/30
- Keppel, Aster plan sustainable aviation fuel project in Singapore 1/30
- Boeing, Israel's Technion to develop sustainable aviation fuel, as sector grapples with 2050 goal 1/30
