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Exxon Restarts Key Gasoline Unit After Brief Beaumont Refinery Outage
Yahoo Finance· 2025-10-11 21:00
ExxonMobil has restarted the gasoline-producing fluid catalytic cracking unit (FCCU) at its massive Beaumont, Texas, refinery, two days after an unexpected shutdown temporarily disrupted operations, according to sources familiar with the plant. The 120,000-barrel-per-day FCCU went offline Tuesday night following a malfunction, prompting flaring visible across the refinery complex. The company notified the Texas Commission on Environmental Quality that flaring would continue for roughly 24 hours. Exxon con ...
California’s ‘impossible’ dream of ending fossil fuels isn’t working, and now it’s looking at price spikes and shortages
Fortune· 2025-10-09 13:59
California is well known for its high fuel prices and strict environmental regulations, but a string of upcoming oil refinery shutdowns—exacerbated by a massive fire at a huge Chevron plant—threatens to spike the state’s sky-high prices further and force the state to import much more oil from Asia.The upcoming closures by refining giants Phillips 66 and Valero Energy have triggered an about-face from Democratic Gov. Gavin Newsom and state regulators to try to keep the fuel complexes open after years of rule ...
Chevron Battles Back: Restart Efforts Underway at El Segundo Refinery
ZACKS· 2025-10-08 16:07
Key Takeaways CVX is working to restart key El Segundo refinery units after a major fire disrupted output.The refinery's partial shutdown sparked a 33-cent jump in jet fuel prices across Southern California.Investigations are underway as Chevron restores operations and stabilizes regional fuel supplies.Chevron Corporation (CVX) is reportedly working to restart several processing units at its massive El Segundo refinery following a fire that forced partial shutdowns last week. The refinery, located near Los ...
Chevron Refinery Fire Threatens California's Fragile Fuel Supply
Forbes· 2025-10-03 17:50
Core Insights - A massive fire broke out at Chevron's El Segundo refinery on October 2, 2025, which is crucial for California's fuel supply, potentially impacting regional gasoline markets [2][3][4] Group 1: Incident Overview - The fire occurred at Chevron's largest West Coast refinery, which processes approximately 290,000 barrels of crude oil per day and supplies about 20% of Southern California's gasoline and over 40% of its jet fuel [3] - The incident was contained without injuries, but its implications for fuel supply are significant due to the refinery's importance [2][5] Group 2: Market Impact - California's gasoline market is particularly vulnerable due to limited pipeline connections and the requirement for a specialized blend of gasoline, making it difficult to substitute supply from other states [4] - Gasoline inventories in California were already about 10% below the five-year average, and seasonal maintenance at refineries further reduces output, leading to tighter supply and higher prices [5][6] - Wholesale gasoline prices in Los Angeles and San Francisco are expected to spike, with retail prices potentially increasing by 10 to 25 cents per gallon in the short term [6] Group 3: Policy Implications - The incident highlights California's vulnerability to fuel price volatility, with limited emergency reserves and potential calls to relax fuel specifications if disruptions persist [7][9] - The fire could exacerbate already high gasoline prices in California, especially as the state approaches the holiday travel season [8][9]
Massive fire breaks out at Chevron oil refinery in California
CNBC· 2025-10-03 08:58
An aerial view of Chevron crews attempting to extinguish a large fire and explosion that occurred at Chevron Refinery in El Segundo Thursday, Oct. 2, 2025.A huge fire broke out on Thursday night at a Chevron jet fuel production unit in California, one of the largest refineries on the U.S. west coast, following reports of an explosion.No injuries were reported from the incident at the El Segundo plant, Chevron said on Friday, with the U.S. energy major's fire department personnel and emergency services "acti ...
U.S. Government Shutdown Leaves Energy Markets on Edge
Yahoo Finance· 2025-10-01 05:30
The U.S. government has now officially shut down after Republicans and Democrats failed to come to an agreement on a stopgap bill to fund operations. The impact of this shutdown will not stop at furloughed staff or shuttered museums. In energy, a shutdown lands with real force. It deprives markets of the official data that guide trading, erodes confidence in demand signals, lifts financing costs, and slows permits for the projects that underpin future supply. Oil, gas, and power don’t stop moving, but the ...
每周原油数据_原油大幅减少库存,成品油大量增加库存-Weekly Oil Data_ Big crude draw and large products build
2025-09-22 01:00
Summary of Weekly Oil Data Industry Overview - The report focuses on the oil industry, specifically crude oil and refined products in the United States. Key Points Crude Oil Inventory - Crude oil inventories decreased by **9.2 million barrels (Mb)**, significantly more than the consensus estimate of a **0.9 Mb** draw and the 5-year average draw of **2.7 Mb** [1] - API data indicated a draw of **3.4 Mb** [1] - Net crude imports fell by **3.1 million barrels per day (Mb/d)** week-over-week [1] - Crude oil production slightly decreased by **13 thousand barrels per day (kb/d)** to **13.5 Mb/d** [1] Refinery Utilization - Refinery utilization decreased by **160 basis points (bps)** week-over-week to **93.3%** of operable capacity, compared to a consensus decrease of **40 bps** [1] Product Demand - Implied oil products consumption increased by **0.9 Mb/d** week-over-week to **20.6 Mb/d**, reversing the previous week's decline [2] - Gasoline consumption led the increase, rising by **0.3 Mb/d** [2] - Total demand on a 4-week average increased by **2%** week-over-week, reaching **20.7 Mb/d** [2] Product Stocks - Total product inventories rose by **10.5 Mb** week-over-week to **867 Mb** [3] - The increase was primarily driven by "Others" (+**7.5 Mb**), followed by distillate (+**4.0 Mb**) and propane (+**1.3 Mb**) [3] - Gasoline stocks fell by **2.3 Mb**, contrary to the consensus expectation of an increase of **0.1 Mb** [3] Detailed Inventory Data - Crude oil production was reported at **13,482 kb/d**, with a week-over-week change of **-13 kb/d** [4] - Crude oil imports were **5,692 kb/d**, down **579 kb/d** [4] - Exports increased significantly by **2,532 kb/d** to **5,277 kb/d** [4] - Total crude oil stocks were reported at **415.4 Mb**, down **9.3 Mb** [4] Market Implications - The significant draw in crude oil inventories and the increase in product demand suggest a tightening market, which could lead to upward pressure on oil prices [1][2][3] - The decrease in refinery utilization may indicate a cautious approach by refiners in response to fluctuating demand and inventory levels [1] Additional Insights - The report highlights the volatility in product stocks, particularly the unexpected decline in gasoline inventories, which could impact pricing and supply strategies moving forward [3] - The data reflects broader trends in the oil market, including shifts in consumer behavior and potential geopolitical influences on supply and demand dynamics [2][3] This summary encapsulates the critical data and insights from the weekly oil report, providing a comprehensive overview of the current state of the oil industry in the United States.
Oil Inches Higher on Possible Supply Disruptions in Russia
Yahoo Finance· 2025-09-16 15:10
Russia’s oil producers may have to reduce output as intensified Ukrainian drone attacks have damaged critical export and port infrastructure. Beijing Tightens the Tap on Oil Products with Third 2025 Export Quota - Keeping the markets on their toes for longer than anticipated, the Chinese government has at last announced the remaining tranche of clean oil product exports quotas for 2025, to the disappointment of many. - The third export quota batch was announced at 8.395 million tonnes, notably lowe ...
每周石油数据:原油和成品油库存均增加-Weekly Oil Data_ Stock builds in both crude and products
2025-09-15 01:49
Summary of Weekly Oil Data Industry Overview - The report focuses on the oil industry, specifically crude oil and refined products in the United States. Key Points Crude Oil Inventory and Production - Crude oil inventories increased by **3.9 million barrels (Mb)**, contrary to the consensus expectation of a **1.0 Mb** draw and the 5-year average build of **1.5 Mb** [1] - Net crude imports rose by **0.7 Mb/d** week-over-week, while production slightly increased by **72 thousand barrels per day (kb/d)** to **13.5 Mb/d** [1] - Refinery utilization improved by **60 basis points (bps)** week-over-week to **94.9%** of operable capacity, which was below the consensus estimate of a **60 bps** decrease [1] Product Demand and Consumption - Implied oil products consumption fell by **0.9 Mb/d** week-over-week to **19.8 Mb/d**, primarily driven by a decline in gasoline consumption of **0.6 Mb/d** [2] - Despite the weekly decline, total demand on a 4-week average basis increased by **2%** week-over-week, reaching **20.9 Mb/d** [2] Product Inventory Changes - Total product inventories rose by **11.5 Mb** week-over-week to **857 Mb** [3] - The largest build in product inventories was in distillate, which increased by **4.7 Mb**, exceeding the consensus estimate of **35 kb** [3] Detailed Inventory and Demand Data - Crude oil production was reported at **13,495 kb/d**, with a week-over-week increase of **72 kb/d** [4] - Gasoline production decreased by **246 kb/d** to **9,243 kb/d**, while middle distillate production saw a minor decrease of **24 kb/d** to **5,229 kb/d** [4] - Total crude oil stocks reached **425 Mb**, with a week-over-week increase of **3.9 Mb** [4] - The 5-year average for crude oil stocks is **438.7 Mb**, indicating a slight increase of **1.5 Mb** compared to the previous week [4] Additional Insights - The report indicates a bearish sentiment in the market due to the unexpected increase in crude oil inventories, which could impact pricing and investment strategies in the oil sector [1][2] - The increase in refinery utilization suggests a potential recovery in refining activities, which may lead to improved product availability in the coming weeks [1] Conclusion - The oil industry is currently experiencing a mixed scenario with rising inventories and fluctuating demand, which could present both opportunities and risks for investors. The unexpected inventory builds may lead to bearish market conditions, while increased refinery utilization could signal a recovery in product supply.
中国石油数据摘要China Oil Data Summary
2025-08-31 16:21
Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the oil industry in China, specifically analyzing July supply, apparent demand, and trade data for the country. Core Insights and Arguments 1. **Apparent Oil Demand Growth** - Chinese apparent oil demand grew by +5% YoY in July, averaging 16.4 million barrels per day (mb/d) [2][5][159] - Demand was driven by strong performance in the petrochemical sector, fuel oil, and jet fuel, with jet fuel consumption increasing by +15% YoY due to robust summer travel [2][26][159] 2. **Crude Imports and Refinery Runs** - Crude imports decreased by 1.0 mb/d MoM to 11.2 mb/d, influenced by higher prices from major suppliers like Saudi Arabia and the Atlantic basin [3][50] - Refinery runs declined by 300 thousand barrels per day (kb/d) MoM to 14.9 mb/d, although this figure is still up 7% YoY [4][56][118] 3. **Refined Product Exports** - Exports of gasoline, diesel, and jet fuel increased by 190 kb/d MoM, supported by strong refinery output and improving export margins [5][65] - Gasoline exports reached 250 kb/d in July, marking a 15% MoM increase [65] 4. **Diesel Demand Trends** - Apparent diesel demand showed a +2% YoY increase, but declined by 5% MoM due to seasonal factors and adverse weather conditions impacting construction activity [11][12][16] - The manufacturing PMI index fell to 49.3 in July, indicating weaker demand [8][12] 5. **Impact of New Energy Vehicles (NEVs)** - NEVs are displacing gasoline demand, with a penetration rate of ~55% in the domestic market [17] - The growth of NEVs is expected to slow down in 2026 due to potential cuts in subsidies and anti-involution measures [20][18] 6. **Jet Fuel Demand and Travel Activity** - Jet fuel demand reached a record high of 930 kb/d in July, driven by strong summer travel, with the number of trips expected to exceed pre-COVID levels [26][27] - Government policies, such as reduced fuel surcharges, are expected to further boost air travel demand [28] 7. **Fuel Oil and LPG Demand** - Apparent fuel oil demand rose by 195 kb/d MoM, supported by improved tax rebates for independent refiners [33][34] - LPG demand increased by 9% MoM, with imports rebounding as prices became more competitive [37][38] 8. **Crude Production Trends** - Chinese crude production fell by 170 kb/d MoM but showed a +1% YoY growth due to new field startups [48][50] 9. **Inventory and Stock Trends** - Crude stocks built by 21.8 million barrels in July, marking the fifth consecutive month of builds [148][150] - Observable product inventories increased by 9.0 million barrels, driven by strong refinery output [149][150] 10. **Future Outlook** - The outlook for diesel demand is expected to remain weak in August due to slowing export momentum [14] - Refinery runs are anticipated to increase in August as more capacity comes online and refining margins improve [115][126] Additional Important Insights - The manufacturing sector's slowdown is impacting diesel demand, with construction activity also affected by adverse weather [12][13] - The Chinese government is implementing measures to curb overcapacity in the refining sector, which may lead to the closure of smaller, less efficient refineries [127][128] - The overall refining capacity is expected to remain limited, with new projects needing to offset closures of older facilities [128] This summary encapsulates the key points discussed in the conference call, providing a comprehensive overview of the current state and future outlook of the oil industry in China.