Related Articles
Shell’s Scotford refinery was the world’s first to exclusively synthesise crude from Alberta’s oil sands
Forward article link
Share PDF with colleagues

US refining makes a comeback

The sector struggled to offset crushing demand losses in 2020, but recent M&A shows momentum change

Returning demand is welcome news for US refiners. Demand for refined products was hit hard by the pandemic, only to be dealt a further blow in February as Storm Uri caused widespread outages on the US Gulf Coast. However, the outlook is brighter in the short term—even as the energy transition implies more uncertainty longer term. According to the EIA, US refinery runs declined by 2.7mn bl/d—or 18pc—in the week up to 19 February. Over the whole of February, US refinery utilisation was down to 70.8pc—a level not seen since April 2020—from 82.5pc recorded in January 2021. This was also reflected in US refiners’ quarterly results. Phillips 66 and Valero Energy were among those to report first-qu

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
South Africa’s energy sector and the just transition
27 October 2021
Continuous engagement by stakeholders crucial in ensuring energy sector is sustainable while also managing social impacts of shift
Var looks at IPO
27 October 2021
The Norway-focused IOC/private equity company is mulling a flotation
OGA takes aim at Elgin-Franklin laggards
26 October 2021
The UK upstream regulator is unhappy at partners in the field dragging their feet on the sale of ExxonMobil’s stake
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video