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以色列的炼油厂预计将于2025年10月全面恢复运营。
news flash· 2025-06-29 14:59
以色列的炼油厂预计将于2025年10月全面恢复运营。 ...
在此前伊朗导弹袭击导致炼油产停止运营后,以色列海法的部分炼油活动已恢复。
news flash· 2025-06-29 14:54
在此前伊朗导弹袭击导致炼油产停止运营后,以色列海法的部分炼油活动已恢复。 ...
伊朗国家媒体:伊朗塔布里兹炼油厂上升的烟雾是由氮气罐爆炸引起的。初步调查显示,事故未造成人员伤亡。塔布里兹炼油厂正常运行。
news flash· 2025-06-29 14:10
伊朗国家媒体:伊朗塔布里兹炼油厂上升的烟雾是由氮气罐爆炸引起的。初步调查显示,事故未造成人 员伤亡。塔布里兹炼油厂正常运行。 ...
俄罗斯成品油出口降至八个月来最低
news flash· 2025-06-27 09:33
金十数据6月27日讯,俄罗斯6月成品油出口降至8个月来最低水平,原因是供应波罗的海港口的炼油厂 延长检修周期,同时俄罗斯为应对即将到来的农忙季和假日消费高峰,优先保障国内供应稳定。分析公 司Vortexa数据显示,6月前20天,精炼燃料海运运输量总计为每天200万桶,创去年10月以来最低,同 比环比均下滑8%。波罗的海港口货运量较5月下降幅度最大,超过15%。"今年早些时候的无人机袭击 可能会延长装置的检修期,"Vortexa市场分析师Mick Strautmann表示。 俄罗斯成品油出口降至八个月来最低 ...
伊朗称此前遭袭的帕尔斯炼油厂已恢复运营
news flash· 2025-06-26 18:49
Group 1 - The PetroPars company, a subsidiary of the National Iranian Oil Company, announced that the damaged facilities at the Pars refinery in southern Iran have been repaired and the refinery has resumed operations [1] - The Pars refinery was affected by an Israeli airstrike on June 14, which caused explosions and fires at two refineries in Bushehr province, including the 14th phase project facilities of the Pars refinery [1]
越南贸易部:越南炼油厂尚未受到中东局势紧张的影响。
news flash· 2025-06-26 01:43
Core Viewpoint - The Vietnamese Ministry of Trade has stated that the country's oil refineries have not been affected by the escalating tensions in the Middle East [1] Group 1 - The Vietnamese oil refining sector remains stable despite geopolitical tensions [1]
EIA数据显示,美国炼油厂利用率在最近一周上升至2024年7月以来的最高水平。
news flash· 2025-06-25 14:44
EIA数据显示,美国炼油厂利用率在最近一周上升至2024年7月以来的最高水平。 ...
路透社计算显示,俄罗斯6月份离线初级炼油产能上调5%,至320万吨。
news flash· 2025-06-25 07:49
Core Viewpoint - Russia's offline primary refining capacity was increased by 5% in June, reaching 3.2 million tons [1] Group 1 - The adjustment in refining capacity indicates a strategic move by Russia to enhance its oil processing capabilities [1] - The increase in capacity may impact global oil supply dynamics, particularly in the context of ongoing geopolitical tensions [1]
国联民生证券:CAPEX转负吹响反转号角 关注红利资产、化工出海、供需改善等细分行业
智通财经网· 2025-06-25 03:03
Core Viewpoint - OPEC+ is resuming production increases, putting pressure on oil supply, while US oil production growth remains limited, suggesting global oil prices may stabilize within a mid-range [1] Investment Opportunities - Five major investment themes are recommended: 1. Low-volatility dividend-leading oil and gas state-owned enterprises 2. Large refining companies and other chemical sectors showing signs of recovery 3. Companies with overseas production bases 4. Sectors benefiting from supply-demand improvements 5. Emerging demand in high-growth potential new materials industry [1] Capital Expenditure Insights - Capital expenditures (CAPEX) and ongoing projects in the large chemical sector are projected to decline from 984.8 billion to 897.1 billion yuan in 2024, a decrease of 8.9% year-on-year, indicating a significant reduction in supply pressure and potential for industry recovery [1] Chemical Industry Profitability - The profitability of oil-based olefins is currently at a low point due to high oil prices, with ethane-based ethylene having a cost advantage of approximately 2000-2500 yuan/ton over oil-based and coal-based ethylene [3] Sector-Specific Opportunities - Certain chemical sub-sectors are showing signs of improvement, such as: - Pesticides: Prices may enter a recovery phase as supply stabilizes and seasonal demand returns - Refrigerants: A pricing cycle may begin following quota implementation - Civil explosives: Expected to benefit from national strategies like the Western Development [4] Globalization and Resource Opportunities - In the context of geopolitical instability, Chinese chemical companies with overseas bases may gain strategic advantages, while limited supply of quality mineral resources and rising extraction costs could push prices higher [5]
Phillips 66 (PSX) 2025 Conference Transcript
2025-06-24 15:55
Summary of Phillips 66 (PSX) 2025 Conference Call Company Overview - **Company**: Phillips 66 (PSX) - **CEO**: Mark Weisher, CEO since February 2022, has a long history with the company and its predecessors [1] Key Topics Discussed Shareholder Engagement - The company faced a situation with an activist shareholder, resulting in a split board vote with two out of four nominees elected [3] - The process provided constructive feedback from shareholders, helping to clarify the company's strategy and commitment to improving refining performance [4][6] Financial Strategy - Phillips 66 is committed to returning at least 50% of net operating cash flow to investors, prioritizing sustaining capital and dividends [7] - The capital budget is set between $2 billion to $2.5 billion, with $1 billion allocated for growth capital [8] - Proceeds from the sale of a 65% interest in jet assets in Germany and Austria are expected to be around $1.5 billion after tax, which will be used for debt pay down [9] Midstream Expansion - The company is expanding gas processing capacity with projects like Dos Pikos II and Iron Mesa, aiming to add approximately 700 million cubic feet per day of gathering processing capacity [11] - The Iron Mesa facility will be the largest gas gathering and processing facility, addressing reliability challenges and expected to come online in February 2027 [14] Chemicals Segment - CPChem, a joint venture, is currently experiencing one of the longest downturns in the industry but is expected to recover due to increasing global demand and rationalization of non-competitive assets [19][20] - CPChem is generating around $1 billion in EBITDA annually, while competitors are struggling [21] Refining Operations - The company is focused on improving refining reliability and cost control, with a target to reduce costs to $5.50 per barrel by 2026 [29][33] - The closure of the Los Angeles refinery is expected to reduce controllable costs and free up sustaining capital for other uses [30] - The Wilmington refinery closure was driven by a loss of crude advantage and high operational costs [46] Market Dynamics - The company anticipates crude differentials to widen back to $12 to $14 as maintenance and wildfires in Alberta are resolved [40] - Coastal light-heavy differentials are expected to face more headwinds than tailwinds due to geopolitical factors and shifts in crude supply [44] Regulatory Environment - The outlook on Renewable Identification Numbers (RINs) is complex, with potential impacts from small refinery exemptions and the EPA's interpretations [51][52] Additional Insights - The company is committed to transparency in refining-related income and is exploring ways to improve comparability with peers [34] - There is an ongoing review of all assets, including chemicals, to assess their value and potential for sale [24] This summary encapsulates the key points discussed during the Phillips 66 conference call, highlighting the company's strategic focus, financial commitments, and market outlook.