Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Suncor Energy Inc T.SU

Alternate Symbol(s):  SU

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.


TSX:SU - Post by User

Post by MaximusGainuson Jun 18, 2022 10:46pm
418 Views
Post# 34767207

US Refinery permanent closures

US Refinery permanent closures
Details on the million bpd of US refinery shutdowns in the last 2 years ensuring continued product shortages. Covid and the oil price meltdown sealed the fate of many that were on the edge of life cycle and profitability.

Now with inflation, the high cost of repair/replacement seems unlikely even at these high product prices. Extremely unlikely that there will ever be another refinery ever built in the US.

That is a whopping 5% of the total US crude consumption that must be sourced elsewhere, unless a deep recession/depression occurs and wipes out that demand.

Unfortunately, Canadian gas prices are based on the US wholesale price plus our higher percentage of markups.  Otherwise, you could imagine Americans driving over to Canada to fill up on cheaper gas.

https://www.reuters.com/business/energy/which-us-refineries-have-shut-since-global-pandemic-why-2022-06-17/



Factbox: Which U.S. refineries have shut since the global pandemic, and why?

 
3 minute read
A sheen appears on the flooded property of the Phillips 66 Alliance Refinery

A sheen appears on the flooded property of the Phillips 66 Alliance Refinery, following the passing of Hurricane Ida in an NOAA surveillance photograph taken south of Belle Chasse, Louisiana, U.S. August 31, 2021/File Photo

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. These are the refiners that have closed or cut capacity:

LYONDELLBASELL HOUSTON:

CAPACITY: 263,776 barrel-per-day (bpd)

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.

 

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. 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. read more

PHILLIPS 66 ALLIANCE, BELLE CHASSE, LA.

CAPACITY: 255,000 bpd

Phillips 66 announced in November 2021 that it would not reopen the Alliance refinery, which was shut in mid-August ahead of Hurricane Ida. The 50-year-old refinery was severely damaged after several feet of water flooded it during the storm.

 

LIMETREE BAY, ST. CROIX, USVI:

CAPACITY: 210,000 bpd

Limetree Bay Energy shut its St. Croix refinery due to financial problems in May 2021 after only operating for a few months, due to operational setbacks. The refinery had already been idle for a decade before restart. The plant was sold to a Jamaican oil storage facility in December 2021. read more

SHELL CONVENT, ST. JAMES, LOUISIANA

CAPACITY: 240,000 bpd

Shell announced in November 2020 it would be shuttering the refinery after attempts to sell the plant between July and October were unsuccessful. The refinery became unprofitable as COVID-19 spread across the United States.

 

Shell planned to try to divest the refinery as it considers closing facilities it cannot sell, the company told investors.

MARATHON, MARTINEZ CALIFORNIA, AND GALLUP, NEW MEXICO

CAPACITY: 161,000 bpd (Martinez); 27,000 bpd (Gallup)

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.

 

The company is converting the Martinez refinery to produce 260 million gallons per year of renewable diesel starting in 2023.

PHILLIPS 66 RODEO, CALIFORNIA

Capacity: 120,200 bpd

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.

HOLLYFRONTIER, CHEYENNE, WYOMING

Capacity: 52,000 bpd

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. The company ceased refinery operations at Cheyenne the following month, making it the first U.S. refinery to close in 2020.

CALCASIEU REFINING - LAKE CHARLES, LOUISIANA

Capacity: 135,500 bpd

 

Calcasieu Refining shut its Lake Charles plant in early August of 2020, according to the Louisiana Department on Environmental Quality, citing demand loss during the pandemic.

Reporting by Laura Sanicola Editing by Nick Zieminski

Our Standards: The Thomson Reuters Trust Principles.


<< Previous
Bullboard Posts
Next >>