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Top related persons:
Bing Guan - 1 fuelmakers - 1 RIN - 1 Laura Sanicola - 1 Stephanie Kelly - 1 David Gregorio Our - 1
Top related locs:
Los Angeles Carson , California U.S Singapore U.S . East
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Phillips - 1 Los - 1 Los Angeles Refinery - 1 Rights - 1 Diesel - 1 AAA - 1 U.S . - 1 U.S . Energy Information Administration - 1

Search resuls for: "fuelmakers"


3 mentions found


☆ US oil refiners crank out diesel, further squeezing margins for gasoline
  + stars: | 2023-10-19 | by ( Laura Sanicola Stephanie Kelly | Laura Sanicola | Stephanie Kelly | ) www.reuters.com   time to read: +4 min
REUTERS/Bing Guan/File Photo Acquire Licensing RightsWASHINGTON, Oct 19 (Reuters) - U.S. oil refiners have cranked up output of diesel, heating oil and jet fuel for winter but are struggling to turn a profit because gasoline margins have fallen over 80% since the summer driving season ended. Refiners, which typically produce more distillates such as diesel and heating oil in autumn, are trying to rebuild inventories of these fuels that are near seasonal record lows. While fuel makers focus on maximizing distillate output, they inevitably produce gasoline as well. Meanwhile, Russia's short-lived diesel export ban, along with less refinery capacity and Western sanctions on Russian diesel, have hit diesel inventories and tightened supplies. Shortages have kept the U.S. heating oil crack at near $44 a barrel, nearly twice the seasonal average.
Persons: Bing Guan, fuelmakers, RIN, Laura Sanicola, Stephanie Kelly, David Gregorio Our Organizations: Phillips, Los, Los Angeles Refinery, Rights, Diesel, AAA, U.S ., U.S . Energy Information Administration, Thomson Locations: Los Angeles, Carson , California, U.S, Singapore, U.S . East
☆ California regulators approve plan to slash emissions 85% by 2045
  + stars: | 2022-12-16 | by ( Laura Sanicola Erwin Seba | Laura Sanicola | Erwin Seba | ) www.reuters.com   time to read: +3 min
Dec 15 (Reuters) - Californian regulators voted Thursday to approve a plan to reduce the state's carbon-dioxide emissions by 85% by 2045, reaching carbon neutrality then, including by cutting petroleum usage to one-tenth of the current level. The state has also angered its fuelmakers, which argue its policies hurt fuel consumers. Policy updates approved on Thursday were in the 2022 edition of a document called the Scoping Plan, which is revised every five years. Many California residents and lobbyists from oil and transportation companies said in public comments on Thursday that they welcomed the changes in the plan. CARB will continue evaluating how refiners can continue to operate to export fuel, said CARB spokesperson Dave Cleghern.
☆ U.S. fuelmakers more than recoup pandemic losses in 2022
  + stars: | 2022-12-15 | by ( Laura Sanicola | Thomson Reuters | Reports On Oil | ) www.reuters.com   time to read: +4 min
Marathon, and Valero's market valuations reached record highs in 2022; while Phillips 66 and PBF's are near highs reached in 2019. LESS CAPACITY, MORE PROFITSWhen the pandemic hit, big U.S. refiners closed numerous facilities that were less profitable than other operations. Processing capacity is expected to increase by 1 million bpd per day in 2022 and 1.6 million bpd in 2023, mostly in Africa, Asia and the Middle East. The margins to produce gasoline were consistently higher throughout 2022 than in the last several years as a result of the Ukraine war. A series of closures have caused U.S. processing capacity to decline even as refiners have become more profitable.
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