US refinery news
US gasoline prices decline amid lower gasoline demand and falling crude oil prices
The EIA reports that on 20 November 2023, the regular gasoline retail price averaged US$3.29/gal across the US, 10% less than the same time in 2022.
EIA forecasts global oil supply to increase in 2024
The US Energy Information Administration (EIA) expects global liquid fuels production to increase by 1 million bpd in 2024.
Enbridge has purchased seven US RNG facilities
A US$1.2 billion transaction with Morrow Renewables has positioned Enbridge as a major North American RNG operator.
US petroleum products exports set new record in 1H23
The EIA reports that US exports of petroleum products grew by 2% to nearly 6 million bpd in 1H23.
EIA: Difference in natural gas prices between Texas and Henry Hub narrowed in 1H23.
In 1H23, natural gas spot prices at Texas hubs traded closer to the US benchmark, Henry Hub, than in the second half of 2H22.
EIA: higher energy prices push US energy trade with Canada to record-high value
The EIA reports that energy trade between the US and Canada totalled US$190 billion when adjusted for inflation, compared with US$134 billion in 2021.
Production of renewable diesel restarted at Neste’s refinery
The production of renewable diesel has restarted at the expanded part of Neste’s Singapore refinery after operational shutdown.
EIA expects new milestones for US crude oil production
The EIA expects new milestones for US crude oil production amid sustained global petroleum demand and rising prices.
US refinery capacity increased at the start of 2023 for the first time since the COVID-19 pandemic
According to the annual Refinery Capacity Report by the US Energy Information Administration (EIA), US refining capacity increased this year for the first time since the COVID-19 pandemic.
High crack spreads to drive elevated refinery utilisation in the US
The EIA forecasts that US refinery utilisation will reach as high as 95% on a monthly average basis this summer in response to high product prices and crack spreads for gasoline, distillate fuel oil, and jet fuel.