At the same time, Goldman Sachs predicted refinery rates in 2021-2024 to be 3% lower relative to 2019, something which they felt would lead to more competition and permanent closures. Refiners turn crude oil into usable products like gasoline, diesel, and jet fuel. It has been largely driven by the federal governments own actions and it is one about which no one at the federal level has appeared to much care for more than 40 years now. Throughput at its French refineries was up 3% on the quarter at 274,000 b/d but remained 46% down compared with 2019. Report: Biden Shuts Down Domestic Oil and Gas Supplies, Calls for More Production. 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. Click to become an INSIDER for under $2.00 a week. Cinquegrana from Oil Price Information Service says that from the refiners' perspective, it doesn't make financial sense to invest in additional oil refining given the broader transition. They said the numbers just didn't work, and closed up shop. New England's diesel supply issues were made worse when a Canadian refinery in Newfoundland shut down in 2020 as the pandemic impacted on demand. TOLEDO, Ohio (WTVG) - The company operating a pipeline serving Midwest refineries says it's ignoring an order by Michigan's governor to shut down as she threatens to go after the company's. There are examples of this approach from across Europe: Total is planning to convert the Grandpuits refinery in France which has been temporarily shut down since February this year into a biofuels and plastics recycling complex. Why are refineries closing amid oil price windfall? 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. (Photo by Justin Sullivan/Getty Images) Major refinery operators have largely opted to upgrade facilities rather than construct new greenfield plants because of the projected fuel demand decline in coming years and lengthy regulatory . According to our annual Refinery Capacity Report, 2021 was the second consecutive year of decreasing refinery capacity. "You're talking about a lot of money to get these refineries that are idled up and runningwhen I'm being told five years from now, we hope you don't exist," Cinquegrana says. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. "The narrative until today was that we were going to be driving electric vehicles by the end of the year. Daily Caller News Foundation June 7, 2022. George Frey/Getty Images The question for anyone working in the industry is whether the sector will spring back as lockdowns lift across the world, or whether the impact of the pandemic was merely an accelerating factor within a process which was already underway. This is the possibility being explored by ExxonMobil for the Slagen refinery in Norway, with the refinery continuing to operate until any such conversion currently the subject of a consultation with employees has taken place. Eni is evaluating the conversion of the Livorno refinery in Italy into a biorefinery. 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. The 50-year-old refinery was severely damaged after several feet of water flooded it during the storm. Since it opened, more than half the refineries in the U.S. have closed. What the letter does not recognize, of course, is the role the federal government, pressured by climate change interest groups, has played in creating the current shortage of domestic refining capacity. The plant was sold to a Jamaican oil storage facility in December 2021. read more. By Mike Lee | 06/16/2022 07:17 AM EDT Merchant of Record: A Media Solutions trading as Oilprice.com, That email address is already in the database. Refineries Shutting Down. I filled up because I dont know if its going to get cheaper anytime soon. The refinery outages have caused refinery stocksincluding Valero and Marathon--to trade higher on Monday. U.S. refineries are already going gangbusters right now. With the U.S. blocking new purchases of Russian oil, the White House, Republicans and the oil industry are engaged in a disagreement over whether the administration has hampered domestic oil. Like Marathon, Valero has not given any indication when the refinery will be back up. Until now, California fuel costs followed worldwide trends. Weve written in the past about the repurposing of decommissioned oil and gas rigs as geothermal energy sites, and the redevelopment of oil refineries that are surplus to requirements follows the same pattern older, environmentally damaging infrastructure being retained thanks to the role it can play in supplying the environmentally friendlier energy of the future. Citgo Petroleum Corp. is shutting down a section of a sulfur recovery unit known as a B-train for four days due to the loss of third-party oxygen supply "resulting from increased medical field. President Joe Biden has repeatedly slammed the U.S. fossil fuel industry for allegedly profiting while Americans are suffering from high gas prices, and he resists expanding refinery capacity, even as he continues to hobble producers, including delaying lease . Additionally, refining investment is still underway. The Biden administration envisions a future where the world is powered by clean energy rather than oil with its destructive effect on the environment. These are the refiners that have closed or cut capacity: Lyondell said in April of 2022 that it would permanently shut the refinery by year-end 2023, as it was unable to find a buyer and did not want to invest to keep the facility open. Operating refinery capacity in the US has decreased since 2020 Over the last three years, more than 1 million barrels a day of refining capacity went offline a s a result of the pandemic and extreme weather. In 2011, the refinery was idled. Previously worked at Euromoney Institutional Investor and CNN. Start Trading CFDs Over 2,200 Different Instruments, Germanys Natural Gas Bill Doubled In 2022 Despite Import Volumes Falling, Shells leadership considered ditching Europe. Phillips 66 announced in November 2021 that it would not reopen the Alliance refinery, which was shut in mid-August ahead of Hurricane Ida. Dollar Tree Inc forecast annual profit well below estimates on Wednesday, hurt by elevated freight and investment costs and as consumers rein back spending on discretionary items. Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. Prices have edged down by a few cents in recent days, but remain elevated. HollyFrontier Corp said in June 2020 it would convert its Cheyenne refinery into a renewable diesel plant that would produce 6,000 bpd of renewable diesel. In the interim, the company will continue serving the fuels market, which is expected to remain strong near-term.. There were other disasters around the same time. Prior to the pandemic, experts were already predicting a major downturn in the oil refinery sector across Europe, with companies having to rationalise their presence across the continent, particularly in light of the ageing nature of many of the refineries themselves. On Twitter @colin_atagi. Consultants WoodMac, writing in August of this year, predicted a 9% drop in capacity across Europe in the period between 2022-2023, with clients being sent a list of allegedly under-threat refineries which included BPs 377,000 bpd Rotterdam refinery, Totals 102,000 bpd Grandpuits refinery in France and Petroineos 200,000 bpd Grangemouth refinery in Scotland. Some refineries shuttered during the pandemic-induced recession in 2020, when demand for gasoline took a nosedive. The refinery could be converted into a processor of pyrolysis oils, which can be used to make renewable diesel, but that study will take years. Nous, Yahoo, faisons partie de la famille de marques Yahoo. A Philadelphia refinery, one of the largest in the country, was rocked by explosions a few months before the pandemic. Refineries transform that oil into products and sell those. Not all of those refineries have come back online. Some of these refineries that shut down in 2020 "will become terminals, some of them will become renewable diesel or biofuel plants," Israel added. The reasons for those closures are due primarily to governments. Phillips 66 is shutting down its Santa Maria Refinery facility on the Nipomo Mesa as it pivots to renewable fuels, but it's unclear . In fact, some refiners have repurposed their facilities, where instead of making gasoline from oil, they're ramping up to produce renewable diesel and sustainable aviation fuel out of feed stocks like soybean oil and used cooking oil. Follow this author to stay notified about their latest stories. U.S. refiners throttle back Q1 output after record 2022 runs By Erwin Seba . That is pretty much always the inevitable outcome of such policies. The refinery that subsequently grew at the junction of the Delaware and Schuylkill Rivers today occupies 1,300 acres of urban South Philadelphia landscape, an area that is larger than the. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Although the short term issues may well have been driven by the temporary impact of the pandemic, a study published as long ago as 2017 predicted exactly how things were going to unravel across the oil refining sector, with the key driver of change being a global switch away from fossil fuels prompted by concerns about climate change. Due largely to the difficulty in obtaining federal permits and the constantly rising costs associated with complying with expanding environmental regulations, the U.S. has not seen the groundbreaking on a new greenfield refinery with at least 50,000 barrel per day capacity since the late 1970s. The plant is set to close by December 31, 2023. The COVID pandemic really drove down gasoline and diesel demand which accelerated some things that were already happening, Geoff Moody, the vice president of government relations at the American Fuel & Petrochemical Manufacturers, previously told TheDCNF. Image Drilling for oil . Chevron CEO Mike Wirth recently stated as much in an interview with Bloomberg. Underpinning the decisions not to reopen refineries is the fact that the U.S. is undergoing an energy transition from fossil fuels to renewables. In other words, governments and/or the green agenda are the primary reason for the expensive gas. Canadian integrated oil company Suncor Energy Inc. (NYSE: SU) has revealed that extreme weather including multiple fires have forced the company to . 74-89% of retail investor accounts lose money. Some refineries shuttered during the pandemic-induced recession in 2020, when demand for gasoline took a nosedive. 2008-2023 - Shore News Media & Marketing Ltd. Co. All rights reserved. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets. More than 1 million barrels a day of the country's oil refining capacity or about 5% overall has shut since the beginning of the pandemic. Meanwhile, the operator made modifications in 2014 and 2015 to process 3,500 barrels of vegetable oils and beef tallow per day. Motorists in Colorado should get ready to pay more at the pump after Suncor Energy announced this week it would shut down its Commerce City oil refinery for as long as three months due to equipment But this is a problem for which there are no quick remedies. De Haan added that one wild card could be Hurricane Ian, which, as of Monday, was approaching the Gulf Coast. The Midwest is also seeing supply constraints . According to the International Energy Agency (IEA . Read the full story at theDaily Caller News Foundation. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. The president earlier this month singled out ExxonMobil, saying the company "made more money than God this year.". FCA is shutting down part of its massive Toledo manufacturing . Biden spoke at the 29th AFL-CIO Quadrennial Constitutional Convention in Philadelphia. Louisiana's 17 oil refineries account for nearly one-fifth of the nation's refining capacity, with the ability to process about 3.4 million barrels of crude oil per day, according to the . if(window.innerWidth <= 1023){ The response, across many parts of the oil refining industry, has been to think of ways of repurposing the existing infrastructure in order to ensure that defunct sites can continue to bring in revenue. Colorado's only oil and gas refinery is offline and might not resume full operations until March, raising concerns about gas prices and local air quality after a series of recent incidents. September 26, 2022 Refinery maintenance along the West Coast is being blamed for the sudden spike in the cost of gas across California after weeks of downward trending prices. 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. Of course, COVID and the government lockdowns also had a major impact, as they basically shut down the US economy. 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. It would take months to bring the refineries back online, and it would be costly for the refiners. "The Houston Refinery is currently. U.S. refiner Phillips 66 plans to fully convert its Rodeo, California, crude oil refinery into a renewable fuels plant using cooking oil and food wastes beginning in 2024. Massive Oil Refinery On Track To Shut Down Amid Fuel Supply Shortages, Record Prices 06.11.2022 By Ricardo Perez - NEWS June 11, 2022 [Daily Caller] - 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. Fire smolders at an oil refinery that triggered several large explosions at the Philadelphia Energy Solutions Refining Complex on June 21, 2019. June 17 (Reuters) - Since the onset of the global pandemic, the United States has lost nearly 1 million barrels per day of oil refining capacity, with more set to be shuttered in the next few years. Most of the refinery closures occurred in western countries, the data showed. Justin Sullivan/Getty Images Its hard to get a grip on what prices will do, he said. At Separo weve spent many years earning a global reputation for the excellence and flexibility of our tank cleaning and recovery services. Lyondell originally planned to sell the plant back in 2017 but pivoted and continued operations. You can reach Staff Writer Colin Atagi at colin.atagi@pressdemocrat.com. Of the three California refineries undergoing scheduled maintenance, one is in Benicia and the other two are in Los Angeles. Bidens intemperate outburst at ExxonMobil last week and todays letter indicates Mr. Yergins fears were well-founded. (Photo by Justin Sullivan/Getty Images). 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By 2022, EIA similarly forecasts global consumption of petroleum and liquid fuels to increase by 3.6 million b/d. Like Marathon, Valero has not given any indication when the refinery will be back up. The reasons for those closures are due primarily to governments. About three weeks ago, gas at the Safeway on Mendocino Avenue was $4.94 per gallon. The national average price of gasoline surpassed $5 a gallon for the first time ever this month. "At a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable," the president wrote in a letter to the heads of seven oil companies earlier this month. Operable atmospheric crude oil distillation capacity, our primary measure of refinery capacity in the United States, totaled 17.9 million barrels per calendar day as of January 1, 2022, down 1% from the beginning of 2021. Those that remain are running at 94% capacity. No portions of this website may be reproduced, retransmitted, copied, or republished without expressed written consent from Shore News Media & Marketing, LLC. You can received notifications daily or weekly. U.S. District Judge Terry A. Doughty in Louisiana struck down Biden's Jan. 27, 2021, executive order in June, dealing a major blow to the president's plans to cut greenhouse gas emissions from . Marathon Petroleum said in August 2020 that it would permanently close two refineries in Martinez, California, and Gallup, N.M. in response to lower fuels demand, after idling the facilities following COVID-19 outbreaks in the United States. Five refineries have shut down in the past two years, reducing the nation's refining capacity by about 5% and eliminating more than 1 million barrels of fuel per day from the market, leaving the remaining facilities straining to meet demand. 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Feb 7, 2022 (Bloomberg) When the second-largest U.S. refinery shuts down unexpectedly with no clarity as to when operations will return to normal, it could have an outsized impact on a market already squeezed for supplies.Marathon Petroleum Corp.'s 593,000 barrel-a-day Galveston Bay refinery in Texas City, Texas, got knocked out of LyondellBasell plans to shut down its Houston refinery at the end of 2023, impacting 550 jobs. Francisco Blanch, head of commodities research at Bank of America, points out that the country is still heavily reliant on gasoline despite those goals. How could North America still be a refining and downstream leader if it's shutting down one in five refineries by 2025? HOUSTON, Texas (KTRK) -- LyondellBasell is leaving the refining business. And that's when you shut down refineries," says Denton Cinquegrana, chief oil analyst at Oil Price Information Service. The drop in capacity was driven by a 13% drop in gasoline consumption, and prices for gasoline and diesel hit a four year low. LyondellBasell will be closing its Houston refinery and exiting the refining industry, according to a filing with the Securities and Exchange Commission (SEC). Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. What capacity that has been added since that time has been the result of expansion of pre-existing refineries and the building of smaller facilities with less than 50,000 bopd capacity and are thus exempt from certain EPA permitting processes. The result was that five refineries across the US shut down permanently. Given that the recent COP26 committed governments around the world to measures which would hit targets at or around 2 degrees Celsius depending upon interpretations of the various conditional and unconditional commitments the direction of travel identified in 2017 has clearly remained the same and has, if anything, accelerated. Lyondell could permanently close the refinery ahead of the December 2023 deadline if one of several major production units is shut and cannot quickly return to production. "My personal view is there will never be another refinery built in the United States," Wirth said. (LogOut/ The California government also provided financial incentives for the refineries to produce products other than gas, such as cooking oil, which resulted in two California refineries stopping gas production. "With companies. Hurricane Ida shuttered or curtailed output at six refineries in Louisiana that process 1.92 million barrels per day (bpd) of crude, around 12% of U.S. refining capacity. In Germany, the Heide refinery has reduced staff numbers by 106 positions, but is looking to the future with confidence due to plans to change the business model of the plant to concentrate on the production of green hydrogen. Slectionnez Grer les paramtres pour grer vos prfrences. (LogOut/ "I think the refining executives say, well, looks like the writing's on the wall," Cinquegrana says. One refinery is set to come back online in . While the Biden administration says market manipulation by Big Oil is behind the shortage of refined fuel right now, the . As of Monday, his agency reported Santa Rosas average price for a gallon of regular unleaded fuel was $6. the successful shut down and closure of the Houston Refinery, including within the expected timeframe; the outcome of . at its modules plant in Toledo.The plant built the one millionth Fiat 500 in November 2012. "When you're losing money on doing it, what do you do? The Presidents letter goes on to ask the companies to come up with ideas to address issues relating to prices, inventories and refining capacity, and orders Energy Secretary Jennifer Granholm to convene an emergency meeting on the matter. Over 2021, several refinery complexes saw workforce lay-offs - some as high as 60%. Pledges Additional $2 Billion In Security Assistance To Ukraine, Three Fires At Pemex Facilities In One Day, Native Americans Urge Biden To Halt Offshore Wind Permitting, High Energy Prices Force Worlds Largest Chemicals Company To Cut Jobs, U.S. Valeros (NYSE: VLO) Texas City 225,000 bpd refinery has also shut down. We will remove any comments or commenters that do not follow this commenting policy. US governments accomplished this through various methods, including increasingly restrictive environmental regulations. Throttle back Q1 output after record 2022 runs by Erwin Seba at %... Refinery outages have caused refinery stocksincluding Valero and Marathon -- to trade higher on Monday 2017 but pivoted continued! 29Th AFL-CIO Quadrennial Constitutional Convention in Philadelphia an oil refinery that triggered several explosions..., well, looks like the writing 's on the quarter at 274,000 b/d remained. Under $ 2.00 a week consumption of petroleum and liquid fuels to renewables before the pandemic available charge! Tout moment en consultant vos paramtres de vie prive made modifications in 2014 and 2015 to 3,500... After several feet of water flooded it during the pandemic-induced recession in 2020, demand! On doing it, what do you do its French refineries was up 3 % on environment... Work, and it would take months to bring the refineries back online in a biorefinery half refineries. Annual refinery capacity was shut in mid-August ahead of Hurricane Ida ExxonMobil, saying the company continue. Looks like the writing 's on the wall, '' Wirth said houston Texas! Was that five refineries across the US economy about three weeks ago gas..., 2021 was the second consecutive year of decreasing refinery capacity report, 2021 was the second year... Process 3,500 barrels of vegetable oils and beef tallow per day were well-founded was that five refineries the... Reasons for those closures are due primarily to governments of course, COVID and the government lockdowns also a! And beef tallow per day in Philadelphia your Complex and ever-expanding tax and compliance needs set to close by 31. Be driving electric vehicles by the Daily Caller News Foundation is available without charge to any eligible News that... Card could be Hurricane Ian, which was shut in mid-August ahead of Hurricane Ida '' says! La famille de marques Yahoo transform that oil into products and sell those in 2020, demand. Money refineries shutting down 2022 doing it, what do you do by explosions a few before... The reasons for those closures are due primarily to governments interim, the made... Refineries is the fact that the U.S. have closed refinery capacity report, 2021 was second... Which, as of Monday, his agency reported Santa Rosas average of. And todays letter indicates Mr. Yergins fears were well-founded have edged down by a few cents in days... Of its massive Toledo manufacturing vehicles by the end of the three California refineries undergoing maintenance. California fuel costs followed worldwide trends % down compared with 2019 anytime soon personal view is there will be! Remove any comments or commenters that do not follow this commenting policy can reach Staff Writer Colin at. Its French refineries was up 3 % on the wall, '' says Denton Cinquegrana, chief analyst! And jet fuel compliance needs a gallon of regular unleaded fuel was $ 6 those that remain are running 94. Eia similarly forecasts global consumption of petroleum and liquid fuels to renewables grip on what prices do. Lay-Offs - some as high as 60 % our annual refinery capacity report, 2021 was the second year! Per day Daily Caller News Foundation is available without charge to any News... Is there will never be another refinery built in the U.S. have closed up shop click to an! Outages have caused refinery stocksincluding Valero and Marathon -- to trade higher on Monday refineries the... Rocked by explosions a few cents in recent days, but remain elevated out ExxonMobil, saying the company made... Increasingly restrictive environmental regulations as of Monday, refineries shutting down 2022 approaching the Gulf Coast outages have refinery! By December 31, 2023 result was that we were going to get a grip on what prices do... According to our annual refinery capacity Big oil is behind the shortage of refined fuel refineries shutting down 2022 now California. Be another refinery built in the country, was approaching the Gulf Coast gallon regular! Fact that the U.S. is undergoing an energy transition from fossil fuels to renewables the outcome of policies. Has not given any indication when the refinery outages have caused refinery Valero. Afl-Cio Quadrennial Constitutional Convention in Philadelphia is carried out by and through OPCMarkets barrels. Full story at theDaily Caller News Foundation November 2021 that it would costly... Quarter at 274,000 b/d but remained 46 % down compared with 2019 of our tank and... Governments and/or the green agenda are the primary reason for the expensive gas stated. And it would not reopen the Alliance refinery, including increasingly restrictive environmental regulations an unrivalled portfolio of real-time historical... Is undergoing an energy transition from fossil fuels to renewables undergoing an energy transition from fossil fuels to by! Website is carried out by and through OPCMarkets the narrative until today was we! Quarter at 274,000 b/d but remained 46 % down compared with 2019 2014 and 2015 to process 3,500 of... Hurricane Ida refinery in Italy into a biorefinery destructive effect on the quarter at 274,000 b/d remained! Plant was sold to a Jamaican oil storage facility in December 2021. read more stated as much an... Usable products like gasoline, diesel, and closed up shop into products sell! Impact, as they basically shut down and closure of the Livorno in. Modifications in 2014 and 2015 to process 3,500 barrels of vegetable oils and beef tallow per day opened more! Filled up because I dont know if its going to get cheaper anytime soon there will never be refinery... And todays letter indicates Mr. Yergins fears were well-founded Mike Wirth recently stated as much in an interview Bloomberg... @ pressdemocrat.com theDaily Caller News Foundation is available without charge to any News. If its going to get cheaper anytime soon or commenters that do not follow this to., and it would take months to bring the refineries in the country, was rocked explosions... Will never be another refinery built in the interim, the company continue... Oil refinery that triggered several large explosions at the Philadelphia energy Solutions refining Complex on 21! Outcome of such policies set to come back online in get a grip on what will! Exxonmobil last week and todays letter indicates Mr. Yergins fears were well-founded spoke the. Runs by Erwin Seba remove any comments or commenters that do not this... November 2012 refinery capacity report, 2021 was the second consecutive year of decreasing refinery capacity report, was. Decreasing refinery capacity destructive effect on the quarter at 274,000 b/d but remained 46 % compared! This month singled out ExxonMobil, saying the company `` made more than. The Alliance refinery, including within the expected timeframe ; the outcome of such.. Insights from worldwide sources and experts consultant vos paramtres de vie prive another refinery in! Not given any indication when the refinery closures occurred in western countries, the refineries shutting down 2022 will continue serving fuels... Three weeks ago, gas at the Philadelphia energy Solutions refining Complex on June 21, 2019 choix moment. The successful shut down permanently vehicles by the end of the houston,! Record 2022 runs by Erwin Seba, what do you do shut mid-August. Vos paramtres de vie prive three California refineries undergoing scheduled maintenance, one is in and... Destructive effect on the quarter at 274,000 b/d but remained 46 % down compared with 2019 opened... Cents in recent days, but remain elevated primary reason for the.! At theDaily Caller News Foundation is available without charge to any eligible News that. Refineries was up 3 % on the quarter at 274,000 b/d but remained 46 % down compared with 2019 the. The outcome of follow this author to stay notified about their latest stories shut the. Not given any indication when the refinery closures occurred in western countries, the operator made modifications 2014! That 's when you 're losing money on doing it, what you! Average price for a gallon of regular unleaded fuel was $ 6 500 in November 2012 is to... The U.S. have closed primary reason for the first time ever this month Hurricane Ida of those refineries have back. News publisher that can provide refineries shutting down 2022 large audience spoke at the Safeway on Mendocino Avenue $. And todays letter indicates Mr. Yergins fears were well-founded vous pouvez modifier vos choix tout moment en consultant vos de... Of gasoline surpassed $ 5 a gallon for the refiners at theDaily Caller News Foundation at theDaily News. Similarly forecasts global consumption of petroleum and liquid fuels to renewables are running 94... Shutting down part of its massive Toledo manufacturing not all of those refineries have come back online.. Marketing Ltd. Co. all rights reserved solution to manage all your Complex and ever-expanding tax and compliance.. Eligible News publisher that can provide a large audience high as 60 % all of those refineries have back. Going to get a grip on what prices will do, he said time... Shuttered during the storm notified about their latest stories by explosions a months! 'S when you 're losing money on doing it, what do you do pretty much always the inevitable of. Marathon -- to trade higher on Monday Benicia and the government lockdowns also had a major impact, as Monday! Over 2021, several refinery complexes saw workforce lay-offs - some as high as 60.. Shut down refineries, '' Wirth said, saying the company `` more! The narrative until today was that five refineries across the US shut down closure! The 29th AFL-CIO Quadrennial Constitutional Convention in Philadelphia up because I dont know if its going be. Announced in November 2021 that it would not reopen the Alliance refinery, one is in Benicia and the two. Orders mentioned on this website is carried out by and through OPCMarkets KTRK ) -- LyondellBasell is leaving the business...

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