{"id":56021,"date":"2020-12-16T07:50:12","date_gmt":"2020-12-16T12:50:12","guid":{"rendered":"https:\/\/olduvai.ca\/?p=56021"},"modified":"2020-12-16T07:52:29","modified_gmt":"2020-12-16T12:52:29","slug":"the-oil-refinery-crisis-will-worsen-this-winter","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=56021","title":{"rendered":"The Oil Refinery Crisis Will Worsen This Winter"},"content":{"rendered":"

The Oil Refinery Crisis Will Worsen This Winter<\/a><\/h3>\n
<\/picture><\/div>\n
\n

It was only to be expected that many of the world\u2019s refiners would be pinched between low demand for finished products and rising inventories as the pandemic lockdowns continue to stifle activity. But the warm December that is expected this year is also threatening finished products demand.\u00a0And it\u2019s possible that many of the older, small refiners won\u2019t survive at all.<\/p>\n

According to HIS Markit, eleven U.S. refiners are scheduled to close.<\/p>\n

The largest refinery in the United States, Royal Dutch Shell\u2019s\u00a0Convent, Louisiana<\/a>\u00a0refinery has shut down after it was unable to find an interested buyer. But the Dutch oil major is closing six more refineries according to Reuters, because it cannot sell those refineries either.<\/p>\n

Then, the largest U.S. refiner, Marathon Petroleum, is set to close several refineries, including its Gallup, New Mexico, refinery and its refinery in Martinez, California.<\/p>\n

Japan\u2019s Eneos Corp has shut its Osaka refinery, too, but the real pain is in Australia.<\/p>\n

BP announced back at the end of October that it was shutting down its aging 65-year-old Kwinana refinery in Perth, because it was simply \u201cno longer economically viable.\u201d\u00a0 Instead, the refinery will be turned into an import terminal. After this closure, BP has only three refineries left in Australia.<\/p>\n

PBF Energy shut 85,000 bpd of its Paulsboro, NJ, refinery down. Phillips 66 shut its Alliance refinery down in the runup to Hurricane Sally, but just left it shut while it waits for better days.<\/p>\n

Other refineries that are not shutting down are simply extending maintenance or bringing maintenance forward.<\/p>\n

Australia\u2019s Caltex is a prime example of this, when in early April it brought forward\u2014and extended\u2014maintenance on its only refinery,\u00a0Lytton.<\/a>\u00a0Caltex vaguely said that it would restart the refinery when conditions recover.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Oil Refinery Crisis Will Worsen This Winter It was only to be expected that many of the world\u2019s refiners would be pinched between low demand for finished products and rising inventories as the pandemic lockdowns continue to stifle activity. But the warm December that is expected this year is also threatening finished products demand.\u00a0And […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[11731,589,7537,5332],"class_list":["post-56021","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-julianne-geiger","tag-oil-demand","tag-oil-refineries","tag-oilprice-com"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56021"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56021\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}