US refinery margins saw losses as product stocks rose, pressured by seasonally lower gasoline demand and subdued heating oil requirements.
US markets weakened despite positive performance at the middle of the barrel due to considerable gasoil and jet/kero inventory drawdowns.
The global hydrocarbon processing industry (HPI) continues to expand and modernize to efficiently meet growing demand for energy, transportation fuels and petrochemicals.
Integration is the new keyword for sustainability and profit in today’s oil and gas market scenario.
As mentioned in the editorial comment of the October issue of Hydrocarbon Processing, the nominees for the 2018 Top Project awards are out.
When top oil marketer Geneva Energy Markets LLC liquidated its trading book holding1 “millions of barrels of open interest across crude oil, refined products and natural gas,” managing partner Mark Vonderheide emphasized the pressures and potential damage of new market regulations.
According to multiple industry reports, the global refining sector will add between 7 MMbpd and 8 MMbpd of new crude distillation unit (CDU) capacity by the early 2020s.
US margins recorded losses as crack spreads declined for all products except fuel oil, despite lower refinery crude intakes.
The Chinese refining industry is on the verge of massive production cuts and consolidation. A new tax rule aimed at curbing alleged tax evasion by independents and the end of an era of liberalization in the industry are driving the downsizing.