MNI China Daily Summary: Wednesday, February 19

MNI BRIEF: China Jan Utilised FDI Lower Than Last Year

MNI BRIEF: China Unveils Plan To Attract Foreign Investors

MNI BRIEF: China To Ensure Credit Supply For Private Companies

MNI BRIEF: China Bond Connect Holdings Down In January

MNI: China Tier-one Housing Markets Likely To Stabilise

MNI: US REDBOOK: FEB STORE SALES +5.8% V YR AGO MO

MNI: US JAN HOUSING STARTS 1.366M; PERMITS 1.483M

EZ/UK Bond Supply Calendar: IT Piu; SP, FR Due Thursday

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: BP Expects Indiana Refinery to Run at Capacity in 2025 After Major 4Q Work

OIL
BulletEnergy BulletsCommodities

BP Expects Indiana Refinery to Run at Capacity in 2025 After Major 4Q Work -- OPIS

  • BP on Tuesday said it expects its 440,000 b/d refinery in Whiting, IN, will run at full capacity this year after completing a major maintenance turnaround in Q4.
  • The company is also planning to carry out less maintenance work at its refineries this year, CEO Martin Auchincloss told analysts in a call to discuss Q4 financial results.
  • Auchincloss said last year was challenging for its refining operations due to low margins and refined product prices in the U.S. and Europe.
  • He said work done at the Whiting refinery in Q4 included replacing a coker unit. The facility shut down in early February 2024 after a power outage and did not resume operations until mid-March.
  • Auchincloss said BP is aiming to improve the company's refinery utilization to 96%, up from 94.3% last year. In 2023, the company said its refinery utilization was 96.1% that year.
  • He also said he expects fewer complicated turnarounds at its other refineries this year, adding that maintenance work should be heavily weighted toward the first half of the year with the largest impact coming in Q2.
  • BP last week said it was seeking to sell its 240,000 b/d Gelsenkirchen refinery and its associated assets in Germany this year. The company has said the refinery is too complex and costly for it to operate.
  • In response to a question about the impact of possible tariffs on U.S. imports of crude oil from Canada and Mexico, Auchincloss said BP could send oil north from the Gulf Coast to supply Midwest refiners, which rely heavily on Canadian oil.
  • Further, he said Canadian producers could send oil to the West Coast from where it could be moved to overseas markets. He added, however, that it's difficult to predict how tariffs could affect refining margins given uncertainties over what they would mean for crude oil flows.
313 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

BP Expects Indiana Refinery to Run at Capacity in 2025 After Major 4Q Work -- OPIS

  • BP on Tuesday said it expects its 440,000 b/d refinery in Whiting, IN, will run at full capacity this year after completing a major maintenance turnaround in Q4.
  • The company is also planning to carry out less maintenance work at its refineries this year, CEO Martin Auchincloss told analysts in a call to discuss Q4 financial results.
  • Auchincloss said last year was challenging for its refining operations due to low margins and refined product prices in the U.S. and Europe.
  • He said work done at the Whiting refinery in Q4 included replacing a coker unit. The facility shut down in early February 2024 after a power outage and did not resume operations until mid-March.
  • Auchincloss said BP is aiming to improve the company's refinery utilization to 96%, up from 94.3% last year. In 2023, the company said its refinery utilization was 96.1% that year.
  • He also said he expects fewer complicated turnarounds at its other refineries this year, adding that maintenance work should be heavily weighted toward the first half of the year with the largest impact coming in Q2.
  • BP last week said it was seeking to sell its 240,000 b/d Gelsenkirchen refinery and its associated assets in Germany this year. The company has said the refinery is too complex and costly for it to operate.
  • In response to a question about the impact of possible tariffs on U.S. imports of crude oil from Canada and Mexico, Auchincloss said BP could send oil north from the Gulf Coast to supply Midwest refiners, which rely heavily on Canadian oil.
  • Further, he said Canadian producers could send oil to the West Coast from where it could be moved to overseas markets. He added, however, that it's difficult to predict how tariffs could affect refining margins given uncertainties over what they would mean for crude oil flows.