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Top US Refiners Outlay Q4 Throughput

REFINING


  • Marathon: Marathon said crude capacity utilization was 94% in Q3, resulting in a total throughput of 3 mn bpd. It expects a total refinery throughput of 2.89 million bpd for the fourth quarter.
  • "We pulled forward turnaround work into the third and fourth quarters, which had been scheduled in the first quarter of 2024," added CFO Maryann Mannen.
  • Valero: "Our refineries operated well and achieved 95 percent throughput capacity utilization . . . Product demand remained strong in our U.S. wholesale system," CEO Lane Riggs said in a statement.
  • The second-largest U.S. refiner by capacity said throughput volumes averaged 3 mn bpd, flat y/y.
  • For Q4, Valero expects refining throughput between 2.93 million and 3.04 million bpd.
  • Phillips66 crude utilization rate was 95% in Q3, with plans to operate refineries in the low-90% range in Q4, the company said.
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