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Weekly CrudeOil Storage as of June 6, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.6 crudeoilrefinery inputs averaged 17.2 Refineries operated at 94.3% of their operable capacity last week. crudeoil imports averaged 6.2
Nigerias Dangote Petroleum Refinery has suspended sales of petroleum in the country after it stopped receiving naira-denominated crude cargoes from the state-owned Nigerian National Petroleum Company (NNPC). In a statement on Wednesday, Dangote Petroleum Refinery said it has temporarily halted the sale of petroleum products in naira..to
The only refinery in Scotland has stopped processing crudeoil after 100 years of operation, as planned by its owners who announced the decision in the autumn of 2024.
Irving Oil said on Thursday it plans to invest $100 million to upgrade a key crudeoil processing unit at its 320,000 barrel-per-day Saint John facility in New Brunswick, Canada’s largest refinery.
Saudi Aramco, the worlds top oil firm and single biggest crude exporter, is in discussions to invest in two planned refineries in India, sources in India told Reuters on Thursday.
Last month, Saudi Arabia and India agreed to boost energy cooperation, including by potential Saudi investment in two refineries in the worlds third-largest crudeoil importer.
Crudeoil inventories in China rose to the highest in almost three years in March, suggesting demand growth was lagging behind refinery processing rates, which hit a one-year high last month as Chinese oil processors took advantage of cheap Iranian and Russian crude. Reuters Clyde Russell reported that 1.74
India is advancing efforts to boost renewable energy use even as the worlds third-largest crudeoil importer is leading global oil demand growth. Indian Oil Corporation, the countrys top refiner, plans to replace fossil fuel-made hydrogen with green hydrogen made from electrolysis at one of its refineries.
Turkeys top oil refiner, Tupras, has resumed purchasing Russian Urals crudeoil after a brief halt earlier this year prompted by U.S. sanctions on Moscow.
Phillips 66, a diversified energy manufacturing and logistics company, says it plans to reconfigure its San Francisco refinery in Rodeo, Calif., The plant would no longer produce fuels from crudeoil but instead would make fuels from used cooking oil, fats, greases and soybean oils. to produce renewable fuels.
Weekly CrudeOil Storage as of May 30, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 4.3 Refineries operated at 93.4% crudeoil imports averaged 6.3 Over the past four weeks, crudeoil imports averaged about 6.2
Weekly CrudeOil Storage as of May 16, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 1.3 crudeoilrefinery inputs averaged 16.5 Refineries operated at 90.7% crudeoil imports averaged 6.1 million barrels, U.S.
But theres a silver lining in falling crude prices profits from refining the crude rise with cheaper feedstock. Stronger refining margins and higher exports of petroleum products have generated more income
Weekly CrudeOil Storage as of March 14, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 1.7 crudeoilrefinery inputs averaged 15.7 Refineries operated at 86.9% crudeoil imports averaged 5.6 million barrels, U.S.
Shandong Yulong Petrochemical, the newest refiner in China, is set to begin trial runs at a 200,000-barrels per day crude processing unit later this month, traders familiar with the facilitys plans told Reuters on Monday, in what could be a boost to Chinese crudeoil imports in the coming months.
Despite the expected rise in OPEC+ production in April, Saudi Arabia is set to ship significantly lower crudeoil volumes to China next month to levels not seen in over a year, Reuters reported on Thursday, quoting trade and industry sources.
Weekly CrudeOil Storage as of May 9, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 4.0 crudeoilrefinery inputs averaged 16.4 Refineries operated at 90.2% crudeoil imports averaged 5.8 million barrels, U.S.
Weekly CrudeOil Storage as of May 2, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 2.0 crudeoilrefinery inputs averaged 16.1 Refineries operated at 89% of their operable capacity last week. million barrels, U.S. Imports U.S.
Weekly CrudeOil Storage as of April 25, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 2.7 crudeoilrefinery inputs averaged 16.1 Refineries operated at 88.6% crudeoil imports averaged 5.5 million barrels, U.S.
Weekly CrudeOil Storage as of April 18, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 0.2 crudeoilrefinery inputs averaged 15.9 Refineries operated at 88.1% crudeoil imports averaged 5.6 million barrels, U.S.
Weekly CrudeOil Storage as of April 11, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 0.5 crudeoilrefinery inputs averaged 15.6 Refineries operated at 86.3% crudeoil imports averaged 6.0 million barrels, U.S.
Weekly CrudeOil Storage as of April 4, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 2.6 crudeoilrefinery inputs averaged 15.6 Refineries operated at 86.7% crudeoil imports averaged 6.2 million barrels, U.S.
Weekly CrudeOil Storage as of March 28, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 6.2 crudeoilrefinery inputs averaged 15.6 Refineries operated at 86.0% crudeoil imports averaged 6.5 million barrels, U.S.
Weekly CrudeOil Storage as of March 21, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.3 crudeoilrefinery inputs averaged 15.8 Refineries operated at 87.0% crudeoil imports averaged 6.2 million barrels, U.S.
Weekly CrudeOil Storage as of March 7, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 5.7 crudeoilrefinery inputs averaged 15.7 Refineries operated at 86.5% crudeoil imports averaged 5.5 million barrels, U.S.
Weekly CrudeOil Storage as of February 28, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 3.6 crudeoilrefinery inputs averaged 15.4 Refineries operated at 85.9% crudeoil imports averaged 5.8 million barrels, U.S.
Saudi Arabias crudeoil flows to China are expected to stay at a one-year high of about 48 million barrels in Juneroughly the same volume arriving in China from the worlds top crude exporter this month, trade sources told Reuters on Tuesday. Sinochem and private refiners, including
increase in production over the first two months of the year as holiday travel pulled demand for fuels higher, helped by the start of a new refinery a few months earlier, Reuters has reported, citing Chinas National Bureau of Statistics. sanctions targeting Russian and Iranian crude, of which the teapots are big buyers.
The Treasury Department sanctioned a Chinese oilrefinery for purchasing $1 billion in Iranian crudeoil as part of a broader US crackdown on companies and vessels skirting US sanctions.
(Oil Price) –U.S. refining giant Phillips 66, which will close its LA refinery later this year, will lay off in December most of the workers at the plant, Reuters reports , citing sources with knowledge of the plans. Phillips 66s LA refinery will not be the only one to cease operations in California soon.
(Investing) –HOUSTON – The price spread between WTI Midland crude in West Texas and Houston has narrowed this year as cold weather hurt Permian production, driving up prices, but weaker refinery and export demand on the U.S. refinery utilization stood at 85.6% crude export volumes also eased 9,000 bpd to 3.88
Crudeoil exports from Iran to its biggest buyer, China, shrank last month on tighter U.S. sanctions and refinery maintenance, Bloomberg has reported, citing data from Vortexa. million barrels of crude to China daily, which was 20% lower than export flows in May 2024. Per that data, Iran shipped a little over 1.1
(World Oil) – In its March 2025 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecast crudeoil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Average annual crudeoil production in Alaska peaked at 2.0
Chinas central economic planner has announced cuts to gasoline and diesel prices, set to take effect today, following the price rout in international crudeoil. Oil prices have taken a dive amid Starting today, a ton of gasoline will cost some $66 less, the National Development and Reform Commission said, as quoted by Xinhua.
Pertamina has been importing Russian crudeoil complying with the Western sanctions, a top official at Indonesias state energy firm said on Wednesday. The company imports Russian crude for its domestic refineries and complies with the sanctions imposed on Russian
per gallon if two major refineries are allowed to shut down as planned. His research identified structural factors and policy-driven costs as the primary reasons California gasoline prices are consistently the highest in the nation not oil company profiteering. These numbers assume stable crudeoil prices.
The worlds largest crudeoil exporter, Saudi Arabia, and the third biggest importer, India, agreed on Wednesday to enhance cooperation in the energy sector, including in crudeoil and petroleum products supply and the construction of two refineries.
More specifically, the Department of the Treasury added an independent Chinese refiner to its list of sanctioned entities for buying crude from Iran. The Treasurys Office of Foreign Assets Control (OFAC) is designating a China-based independent teapot refinery Shandong Shengxing Chemical Co.,
billion was recorded for the Benicia and Wilmington refineries, and is expected to be treated as a special item and excluded from first quarter 2025 adjusted earnings. Valero owns 15 petroleum refineries located in the U.S., Valero continues to evaluate strategic alternatives for its remaining operations in California.
April 9, 2025 Subscribe now IN DETAIL US crudeoil inventories rose by 2.553 mb to 442.3 US crude imports decreased by 277 mb/d to 6.189 mb/d last week. US crude imports decreased by 277 mb/d to 6.189 mb/d last week. Crude exports fell by 0.637 mb/d to 3.244 mb/d. mb last week, per the EIA (Figure 1).
Energy Market Assessment: Expectations and oil prices have bottomed with heading up to summer- oil and gas 360 The drop in the price of crudeoil, from its Winter high to a Spring-Time low exaggerated by Tariff Fear has us conclude the drop has bottomed. crudeoil inventory.
The price of WTI crudeoil back below $60 reflects much fear plus news that OPEC+ will increase production. While price expectations are extra depressed, crudeoil inventory at Cushing (where futures contracts are delivered) is down extra low. Oil bearishness is helped by the increase in total U.S.
crudeoil stockpiles fell unexpectedly last week on higher export and refinery demand, while gasoline drew down for a ninth straight week, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels to 440.4
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