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Fuel Market

All articles tagged with #fuel market

energy1 year ago

California Faces Fuel Market Challenges Amid Refinery Closures and Regulatory Delays

California has enacted a new law allowing regulators to set minimum petroleum product inventory levels to stabilize fuel prices, amid Phillips 66's announcement to close its Wilmington refinery by 2025 due to challenging market conditions. The closure, representing a significant portion of California's refining capacity, may lead to increased reliance on imports and higher utilization of other refineries. The state's unique market conditions, including high gasoline prices and regulatory costs, contribute to the refinery's closure decision.

via EIA|
#california#energy#fuel-market
energy2 years ago

"Upcoming Refineries Pose Potential Threat to Refiner Stocks and Gas Prices"

Two new refineries in Mexico and Nigeria are expected to start production next year, potentially adding 1 million barrels per day of fuel capacity and impacting refining stocks and gasoline prices. The increased capacity could slow or reverse the gains of refining stocks and hold down gasoline prices. Analysts predict that cracks, a measurement of margins used for refiners, will drop in the coming years. However, in the short term, refiner stocks and gasoline prices could continue to climb due to low fuel inventories and increased pressure from refinery outages and maintenance. Russia's temporary ban on gasoline and diesel exports may further tighten the global fuel market, offering potential upside for U.S. refiners.

via Seeking Alpha|
#energy#fuel-market#gasoline-prices
business2 years ago

Sinopec enters Sri Lanka's fuel market amidst crisis.

Chinese petroleum company Sinopec has signed an agreement with Sri Lanka to enter the country's retail fuel market, which has been facing a fuel shortage for over a year. The deal will allow Sinopec to import, store, distribute, and sell petroleum products in Sri Lanka. The move comes as China looks to consolidate investments in Sri Lanka's ports and energy sector amid growing security concerns raised by India. Sri Lanka hopes the deal will help resolve its energy crisis, which has been exacerbated by an economic downturn.

via AOL|
#business#china#energy-crisis