Bullboard - Stock Discussion Forum Cenovus Energy Inc T.CVE

Alternate Symbol(s): CVE | CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.C | T.CVE.PR.E | T.CVE.PR.G

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore.... see more

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Cenovus Energy Inc > NOT ENOUGH To AFFECT Chicago 3-2-1 CRACK SPREADS

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Post by ztransforms173 on Jul 18, 2024 10:38am

NOT ENOUGH To AFFECT Chicago 3-2-1 CRACK SPREADS

Exxon's Joliet refinery units down for a week, plans for restart in late July, IIR says

By Nicole Jao and Shariq Khan

July 17, 20245:47 PM EDTUpdated 17 hours ago

July 17 (Reuters) - Exxon Mobil's (XOM.N) , opens new tab

251,800-barrel-per-day refinery in Joliet, Illinois, is likely to have most units offline through this week, industry monitor IIR said on Wednesday.

A severe storm passed through Joliet earlier this week, leaving thousands without power.

The power outage took 16 units offline on Monday night, according to data from IIR.

Among them are a 127,000-barrels-per-calendar-day (bcd) vacuum distillation unit and a 98,000-bcd fluid catalytic cracker unit. Four hydrotreater units and three sulfur recovery units also went down during the outage.

The units are expected to be down for a week with plans to restart over the upcoming weekend, according to IIR.

Exxon did not immediately respond to a request for comment.

The outage sparked panic buying in the Chicago wholesale market, pushing prices higher for refined products in the region. Chicago diesel traded at a discount of 2.50 cents against the ultra-low sulfur diesel futures benchmark on Wednesday, 15.25 cents higher than Tuesday.

Reporting by Nicole Jao and Shariq Khan in New York Editing by Matthew Lewis

https://www.reuters.com/business/energy/exxons-joliet-refinery-units-down-week-plans-restart-late-july-iir-says-2024-07-17/#:~:text=A%20severe%20storm%20passed%20through,bcd%20fluid%20catalytic%20cracker%20unit.

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- PANIC BUYING will NOT LAST for MORE THAN ONE WEEK

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