Like Marathon, Valero has not given any indication when the refinery will be back up. The permitting and building of a new greenfield refinery would take at least a decade; major expansions take several years from cradle to startup. PATRICK DE HAAN: There's been a tremendous challenge with the refineries being able to meet demand that has resurged as the economy continues to gain momentum post-COVID. We average between 2 and 3 posts a day. So who cares about refined products? Friday, February 11, 2022 3:56 am. 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. 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. Sadly, it always seems to take a crisis for politicians to begin to wake up to the folly of their own actions. Of the three California refineries undergoing scheduled maintenance, one is in Benicia and the other two are in Los Angeles. Our Standards: The Thomson Reuters Trust Principles. The company ceased refinery operations at Cheyenne the following month, making it the first U.S. refinery to close in 2020. 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. Search Posts. So, as was the case throughout the 1970s, the industry and consumers are left to wait to see what disastrous and ineffective action to control the market this President and his inept team might take next. In Pursuit Of Higher Value, Big Oil Isnt Losing Any Sleep Over The EV Revolution, Mining Majors Are Treading Carefully As Battery Metals Boom. We, Yahoo, are part of the Yahoo family of brands. According to a report from Reuters, published in June of this year, the refining capacity across the US fell by 4.5% during 2020, the largest drop since the recession of 2012. Start Trading CFDs Over 2,200 Different Instruments, Germanys Natural Gas Bill Doubled In 2022 Despite Import Volumes Falling, Shells leadership considered ditching Europe. CAPACITY: 161,000 bpd (Martinez); 27,000 bpd (Gallup). 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. var write_html = `
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