refineries shutting down 2022

2008-2023 - Shore News Media & Marketing Ltd. Co. All rights reserved. Follow this author to stay notified about their latest stories. The refinery processes 268,000 barrels per day (bpd) of oil and produces 92,600 bpd of diesel fuel, 89,000 bpd of gasoline and 44,500 bpd of jet fuel. We average between 2 and 3 posts a day. Gasoline prices were also spiking on Monday, with the nations average up 8 cents from a week ago and 12.3 cents a month ago at $3.42 per gallon, according to Gas Buddy. The refinery is among the top 25 largest-capacity facilities in the U.S., according to the Energy Information Administration. Home; . Stay tuned. In a recent interview with Fox Business, American Petroleum Institute President Mike Sommers stated that 11 US gas refineries closed over the past two years. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. HOUSTON, April 21, 2022 /PRNewswire/ -- LyondellBasell (NYSE: LYB) . Calcasieu Refining shut its Lake Charles plant in early August of 2020, according to the Louisiana Department on Environmental Quality, citing demand loss during the pandemic. It has been largely driven by the federal governments own actions and it is one about which no one at the federal level has appeared to much care for more than 40 years now. In Australia, the collapse of the oil refining industry has resulted in their now being just two refineries in the country, after Exxon Mobil closed the 86,000 bpd Altona refinery in February, following on from BP closing the Kwinana refinery in November of last year, and converting it into a fuel import terminal. Overall, operating U.S. refineries had a capacity of about 17.7 million bpd of oil and produced about 9.5 million bpd of gasoline, 4.7 million bpd of diesel fuel and 1.3 million bpd of jet fuel in 2021. According to Gas Buddy, the online monitor that tracks fuel prices by community, Santa Rosas lowest-priced gas is being sold at the 7-Eleven on College Avenue, where regular unleaded was $5.29 per gallon, as of Monday. The industrial landscape for oil refineries has been challenging of late, with the Covid-19 pandemic triggering a massive slump in demand for oil which resulted in many refineries across the world having to temporarily shut down. On Thursday, the. Read the full story at theDaily Caller News Foundation. I recently noted that LyondellBasell Its hard to get a grip on what prices will do, he said. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Consultants WoodMac, writing in August of this year, predicted a 9% drop in capacity across Europe in the period between 2022-2023, with clients being sent a list of allegedly under-threat refineries which included BPs 377,000 bpd Rotterdam refinery, Totals 102,000 bpd Grandpuits refinery in France and Petroineos 200,000 bpd Grangemouth refinery in Scotland. By Mike Lee | 06/16/2022 07:17 AM EDT At the same time, Goldman Sachs predicted refinery rates in 2021-2024 to be 3% lower relative to 2019, something which they felt would lead to more competition and permanent closures. The Department of Energy didnt respond to a request for comment from TheDCNF. Refineries transform that oil into products and sell those. Even as oil and gas companies profits soar, refineries across the country are being retired and converted to other uses as owners balk. The company is converting the Martinez refinery to produce 260 million gallons per year of renewable diesel starting in 2023. All quotes delayed a minimum of 15 minutes. "We have been expecting a pretty hefty spring turnaround season in 2023 after refiners ran hard in 2022," said Matthew Blair, refining analyst at research firm Tudor . Reports also came in on Monday. Change). Prices have edged down by a few cents in recent days, but remain elevated. The refinery's major units are its two crude distillation units (CDUs), two cokers, gasoline-producing fluidic catalytic cracker (FCC), sulfur recovery units, and certain hydrotreaters, the. hide caption. The drop in capacity was driven by a 13% drop in gasoline consumption, and prices for gasoline and diesel hit a four year low. About three weeks ago, gas at the Safeway on Mendocino Avenue was $4.94 per gallon. Operable atmospheric crude oil distillation capacity, our primary measure of refinery capacity in the United States, totaled 17.9 million barrels per calendar day as of January 1, 2022, down 1% from the beginning of 2021. Change), You are commenting using your Facebook account. Elsewhere in the world, capacity has shrunk by 2.13. Not all of those refineries have come back online. When the pandemic hit and demand for oil evaporated during the recession, refineries took a big financial hit when the price of gasoline plummeted. Bidens intemperate outburst at ExxonMobil last week and todays letter indicates Mr. Yergins fears were well-founded. U.S. refineries are already going gangbusters right now. Due largely to the difficulty in obtaining federal permits and the constantly rising costs associated with complying with expanding environmental regulations, the U.S. has not seen the groundbreaking on a new greenfield refinery with at least 50,000 barrel per day capacity since the late 1970s. Thursday, May 12, 2022. Meanwhile, six refineries with a capacity of about 801,000 bpd of oil have shuttered over the last two years amid the pandemic, federal data showed. Additionally, refining investment is still underway. The company ceased refinery operations at Cheyenne the following month, making it the first U.S. refinery to close in 2020. Five refineries have shut down in the United States in just the past two years, reducing the nation's refining capacity by about 5 percent and eliminating more than 1 million barrels of fuel. Feb 7, 2022 (Bloomberg) When the second-largest U.S. refinery shuts down unexpectedly with no clarity as to when operations will return to normal, it could have an outsized impact on a market already squeezed for supplies.Marathon Petroleum Corp.'s 593,000 barrel-a-day Galveston Bay refinery in Texas City, Texas, got knocked out of On Monday, a barrel of oil sold for as little as $76 the lowest since January but thats a reflection of worldwide trends as opposed to whats happening on the West Coast. Once the assembly line at the Toledo North factory shuts down, Chrysler will begin preparing the plant for the Liberty's successor, scheduled to go on sale next spring. Fire smolders at an oil refinery that triggered several large explosions at the Philadelphia Energy Solutions Refining Complex on June 21, 2019. The drop in capacity was driven by a 13% drop in gasoline consumption, and prices for gasoline and diesel hit a four year low. Daily Caller News Foundation June 7, 2022. In what is possibly his most irrational action yet related to energy policy, President Joe Biden on Wednesday lashed out at oil refiners for shutting down too much refining capacity in recent years. Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. U.S. District Judge Terry A. Doughty in Louisiana struck down Biden's Jan. 27, 2021, executive order in June, dealing a major blow to the president's plans to cut greenhouse gas emissions from . Biden spoke at the 29th AFL-CIO Quadrennial Constitutional Convention in Philadelphia. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. . As of Monday, his agency reported Santa Rosas average price for a gallon of regular unleaded fuel was $6. Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. Given that the recent COP26 committed governments around the world to measures which would hit targets at or around 2 degrees Celsius depending upon interpretations of the various conditional and unconditional commitments the direction of travel identified in 2017 has clearly remained the same and has, if anything, accelerated. New York gas stations, for example, charged an average of $3.68 per gallon as of Monday, according to AAA. Contrary to claims from Trump and other Republicans, Biden has not "shut down" American energy: US crude oil production in Biden's first year was higher than in each of Trump's first two years. One refinery is set to come back online in . The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. "The Houston Refinery is currently. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org. The end of the Keystone pipeline is also troubling for the oil gas . Those that remain are running at 94% capacity. Nous, Yahoo, faisons partie de la famille de marques Yahoo. David Ryder/Getty Images Valeros (NYSE: VLO) Texas City 225,000 bpd refinery has also shut down. While Gas Buddy indicated that gasoline prices would start to ease somewhat this week, Marathon Petroleums 593,000 bpd Galveston Bay refinery is shut down for the foreseeable future, thanks to a citywide power outage during freezing temperatures. "When you're losing money on doing it, what do you do? You can received notifications daily or weekly. The supply is not meeting the demand for gas and that is what is keeping prices going up, especially on the West Coast, John Treanor, an AAA spokesman, told The Press Democrat. Enter your email address to follow this blog and receive notifications of new posts by email. Most of the refinery closures occurred in western countries, the data showed. 'Massive' violations in Ukraine a focus as UN human rights body meets, Court rules New York law violates family planning centers rights, SUZANNE DOWNING: Biden Is Throwing Americans Retirement Savings To The Wolves. Colorado's only oil and gas refinery is offline and might not resume full operations until March, raising concerns about gas prices and local air quality after a series of recent incidents. Learn how your comment data is processed. New England's diesel supply issues were made worse when a Canadian refinery in Newfoundland shut down in 2020 as the pandemic impacted on demand. But those builds havent subdued the price at the pump for Americans, who have a history of being unkind to the ruling party at the voting booth when under the yolk of high gasoline prices. Editing by Nick Zieminski, Exclusive: Biden administration to move on Midwest ethanol-blended gasoline rule this week -sources, Greta Thunberg detained by Norway police during pro-Sami protest, Norway's Equinor nears deal to buy Suncor's UK oilfields, Dollar Tree sees weak 2023 profit as costs mount, shoppers curb spending, EU silence over Pfizer COVID contract talks is problem that won't go away -watchdog, Russian internet speeds drop on hardware shortage, research finds, Kohl's swings to surprise loss as margins crumble on steep discounts, Enbridge to buy US Gulf Coast gas storage facility for $335 million, Exclusive news, data and analytics for financial market professionals. (Photo by George Frey/Getty Images). Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. (LogOut/ Major refinery operators have largely opted to upgrade facilities rather than construct new greenfield plants because of the projected fuel demand decline in coming years and lengthy regulatory . (Photo by Justin Sullivan/Getty Images). Patrick De Haan, Gas Buddys head of petroleum analysis, said in a statement that prices in the impacted areas could go up another 25 to 75 cents before the issues are resolved. The evidence for the impact of the pandemic on the sector is widespread and undeniable. ExxonMobil's profit in the first quarter more than doubled from a year earlier. The California government also provided financial incentives for the refineries to produce products other than gas, such as cooking oil, which resulted in two California refineries stopping gas production. The Midwest is also seeing supply constraints . HOUSTON, Texas (KTRK) -- LyondellBasell is leaving the refining business. Weve written in the past about the repurposing of decommissioned oil and gas rigs as geothermal energy sites, and the redevelopment of oil refineries that are surplus to requirements follows the same pattern older, environmentally damaging infrastructure being retained thanks to the role it can play in supplying the environmentally friendlier energy of the future. It isnt as if these facilities have been idle. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. This is so, so frustrating, Hogan said. Of course, high demand combined with high prices has led oil companies to make big profits. June 21, 2022 Why is Oil Refining Down? Find out more about how we use your information in our privacy policy and cookie policy. Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Oil slips as rising supplies balance Chinese demand hopes, Reporting by Laura Sanicola HollyFrontier shut all units as of the end of August 2020 at its 48,000 barrels per day refinery in Cheyenne, Wyoming. hide caption, SALT LAKE CITY, UT - MAY 24: A driver unloads raw crude oil from his tanker to process into gas at Marathon Refinery on May 24, 2022 in Salt Lake City, Utah. In fact, some refiners have repurposed their facilities, where instead of making gasoline from oil, they're ramping up to produce renewable diesel and sustainable aviation fuel out of feed stocks like soybean oil and used cooking oil. But on Monday, at that same Safeway, Prince paid $5.39 per gallon to fill his Mazda 6. LyondellBasell announced in April that it would shut the refinery by 2024 due to the heavy financial burden of upgrading its more than 100-year-old infrastructure, Barrons reported at the time. Copyright 2023 Separo. The plant was sold to a Jamaican oil storage facility in December 2021. read more. No off-topic remarks. LYONDELLBASELL HOUSTON: CAPACITY: 263,776 barrel-per-day (bpd) Register for free to Reuters and know the full story Lyondell said in April of 2022 that it would permanently shut the. "You're talking about a lot of money to get these refineries that are idled up and runningwhen I'm being told five years from now, we hope you don't exist," Cinquegrana says. The U.S. had five fewer refineries at the beginning of this year that at the beginning of 2020. On Thursday, Lyondellbasell Industries announced its plans to shut down its Houston Oil refinery by 2023 permanently. A key Texas petroleum refinery that produces more than 200,000 barrels of fuel per day is facing a premature shutdown that could increase pressure on domestic fuel supplies. Right now, all bets are off.. This is a family newspaper, please use a kind and respectful tone. PETALUMA, CALIFORNIA - MAY 18: A customer pumps gas into their car at a gas station on May 18, 2022 in Petaluma, California. See here for a complete list of exchanges and delays. The response, across many parts of the oil refining industry, has been to think of ways of repurposing the existing infrastructure in order to ensure that defunct sites can continue to bring in revenue. read more. By Alex Kimani - Dec 29, 2022, 11:00 AM CST. This needs to last me for a couple weeks.. When you have a power issue, that can sometimes be really difficult to operate around, he said. Meanwhile Chevron reported its highest quarterly profit in nearly a decade, while Shell posted its highest earnings ever. It had been $5.64 last week. What capacity that has been added since that time has been the result of expansion of pre-existing refineries and the building of smaller facilities with less than 50,000 bopd capacity and are thus exempt from certain EPA permitting processes. Throughput at its French refineries was up 3% on the quarter at 274,000 b/d but remained 46% down compared with 2019. Globally, some 2.13 million bpd in refining capacity has been shut down since 2020. Diesel fuel supplies have hit all-time lows on the East Coast and gasoline prices have soared to multiple records in recent weeks. if(window.innerWidth<=1023){var write_html='