Americas
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.
Buffett’s Berkshire Hathaway buys more stock in US refiner Phillips 66
According to a regulatory filing on Friday night, Berkshire paid about $198 million this week for 2.54 million Phillips 66 shares, its first purchases of the stock since Jan. 14.
Emerson to boost refinery controls at BP Whiting
The project to upgrade the process control system of two fluid catalytic cracking units is part of a strategic BP-Emerson automation upgrade program.
Global Partners cuts workers, scraps crude at Oregon ethanol-rail hub
Global Partners says it is "taking steps" to use the Oregon terminal for ethanol transloading "during this period of headwinds in the crude market." The terminal houses an ethanol plant.
US gasoline margins rise on report of FCC leak at PBF’s Delaware refinery
PBF was in the process of restarting the refinery before abandoning those efforts on Monday after a leak was discovered in the fluid catalytic cracker, according to a report.
Phillips 66: Robust refining profit offset by weaker chemicals, midstream
While refining results were strong, the company's quarterly profit was hurt by lower earnings from its midstream and chemicals businesses. Adjusted earnings at Phillips 66's midstream business more than halved to $42 million in the quarter, hurt by a fall in natural gas prices.
US producer Axiall rejects unsolicited takeover bid by Westlake Chemical
The Axiall board of directors, with the assistance of its financial and legal advisors, reviewed, considered and unanimously rejected the proposal within the timeframe requested by Westlake.
Global trade slowdown hits refining margins at bottom of the barrel
Sluggish global trade growth is reducing demand for major freight-related fuels, which are currently showing the lowest demand, biggest increase in stocks and weakest prices.
Valero’s profit falls on lower US refining margins
Net income attributable to Valero's stockholders fell to $298 million, or 62 cents/share, for the fourth quarter ended Dec. 31, from $1.16 billion, or $2.22/share, a year earlier.
Air Products launches new ASU project at Chinese coal-to-chemicals plant
The project, capable of producing 12,000 tpd of oxygen and significant tonnage volumes of nitrogen and compressed dry air for the customer's coal chemical plant, represents one of the largest single on-site ASU orders ever committed to an industrial gas company.
- Consortium creates world's first supply chain for the production of renewable plastics 2/6
- Valmet to deliver advanced process analytical solutions to Dow’s Path2Zero ethylene project 2/6
- Tampnet brings mission-critical connectivity to hydrocarbon processing industries 2/6
- Cheniere submits application to build massive LNG plant in Texas 2/6
- OQ and Kuwait Petroleum sign PDA for Duqm petrochemical complex project 2/6
- Phillips 66 to lay off workers as Los Angeles (U.S.) refinery shuts down 2/6
