My latest story on the daunting prospect to build a new US oil refinery, including huge capital needs, competition from cheaper incremental barrels and changing regulatory and market conditions. Remember the supply glut forecasts?
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An unprecedented water shortage in S. Texas could increase production costs for refined products. Find out more in the latest #OPISMarketMinute.
Read more about the looming shortage that could cause surcharges & cost hikes for Corpus Christi #refineries: https://t.co/qUQkBVUmMW
Tampa fuel terminal seems to be ok. no visible damage, dock fine, tank farm fine. Just no power and Coast Guard needs to check waterways for resupply to arrive. No ETA on power and USCG. Hope is tomorrow can terminal can restart
Tropical Storm #Earl Advisory 1: Tropical Storm Earl Forms East of the Northern Leeward Islands. Expected to Produce Heavy Rains Over the Leeward Islands, Virgin Islands, and Puerto Rico Through the Weekend. https://t.co/tW4KeFW0gB
A spokesman from EIA confirms to OPIS that it will NOT publish its Weekly Petroleum Status Report this week. "We’ll publish this week’s data as soon as our systems are restored," he said. #petroleum#crude#gasoline#diesel
#Crudeoil prices fell after #DowJones Newswires was the first to report that the possible exemption of Russia from an #oil producing deal would begin to level the playing field. See the market activity on our blog: https://t.co/p7rUk7y9PK
OPIS' Tom Kloza reports that the latest round of 180 million barrels of U.S. SPR crude starting May 1 will be pumped from all four SPR sites, and there are plans that could result in Jones Act waivers if traditional logistics is not sufficient to handle t…https://t.co/k1bTwEE6tJ
OPEC sees 2022 world oil demand, non-OPEC supply to grow at the same rates compared to those of a month ago, while cautioning that its forecasts are subject to change upon more clarity on the "far-reaching impact of the geopolitical turmoil" related to Ru…https://t.co/gFoaPCkoaF
Despite high oil prices, E&P companies should stay disciplined in capital allocation, meaning "moderate" increases in capex, continued debt reduction, more shareholder distributions. Still, it's uncertain E&Ps will up oil-and-gas production due to operati…https://t.co/lNf1l08gns