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OIL PRODUCTS: Oil Products Summary at European Close: Cracks Tick Up

OIL PRODUCTS
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Diesel and gasoline cracks are extending their gains today. This is despite falling US pump prices and signs of weaker US gasoline demand.

  • US gasoline crack up 0.3$/bbl at 14.47$/bbl
  • US ULSD crack up 0.7$/bbl at 24.89$/bbl
  • Valero’s 205,000 bpd Houston refinery reports maintenance via a community alert on Monday.
  • The FCC at Motiva’s 626,000 bpd Port Arthur, Texas refinery was back to normal operations on Monday according to Reuters sources.
  • Nigeria's 650kb/d Dangote refinery has agreed to export more than 200k mt of gasoline, according to a company official cited by S&P Global Commodity Insights.
  • The Dangote refinery has the capacity to produce winter diesel for the European market according to an executive at the refinery on Tuesday, Reuters reports.
  • China’s Yulong refinery is operating its newly started 200,000 bpd crude unit (CDU-2) at around 90% according to Reuters sources.
  • Russia’s Novatek may raise naphtha exports from Ust-Luga on the Baltic Sea to up to 600k tons a month assisted by a new processing unit and following maintenance, according to Reuters sources.
  • Indian Oil said on Tuesday the fire at its Gujarat refinery had been fully extinguished and refinery operations were back to normal.
  • Indian Oil Corp expects to complete the expansion of its refineries in Panipat, Gujarat and Barauni by December of next year according to Reuters sources on Tuesday.
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Diesel and gasoline cracks are extending their gains today. This is despite falling US pump prices and signs of weaker US gasoline demand.

  • US gasoline crack up 0.3$/bbl at 14.47$/bbl
  • US ULSD crack up 0.7$/bbl at 24.89$/bbl
  • Valero’s 205,000 bpd Houston refinery reports maintenance via a community alert on Monday.
  • The FCC at Motiva’s 626,000 bpd Port Arthur, Texas refinery was back to normal operations on Monday according to Reuters sources.
  • Nigeria's 650kb/d Dangote refinery has agreed to export more than 200k mt of gasoline, according to a company official cited by S&P Global Commodity Insights.
  • The Dangote refinery has the capacity to produce winter diesel for the European market according to an executive at the refinery on Tuesday, Reuters reports.
  • China’s Yulong refinery is operating its newly started 200,000 bpd crude unit (CDU-2) at around 90% according to Reuters sources.
  • Russia’s Novatek may raise naphtha exports from Ust-Luga on the Baltic Sea to up to 600k tons a month assisted by a new processing unit and following maintenance, according to Reuters sources.
  • Indian Oil said on Tuesday the fire at its Gujarat refinery had been fully extinguished and refinery operations were back to normal.
  • Indian Oil Corp expects to complete the expansion of its refineries in Panipat, Gujarat and Barauni by December of next year according to Reuters sources on Tuesday.