Tag: refiners

US Fuelmakers More Than Recoup Pandemic Losses in 2022

December 15, 2022
Business & MarketsenergyfuelgasolineMarketsOilrefinersstocks
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U.S. oil refiner PBF Energy is closing out one of the best financial years in its history, a wild bounce back from the brink in April 2020 when fuel demand and gasoline prices cratered during the pandemic and the company’s value swooned lower than what it had just paid to buy a California refinery. PBF’s…

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US Refiners Urge Biden Not to Impose Gasoline Export Ban but Instead Focus on Boosting Domestic Energy Production

October 5, 2022
Business & Marketsdomestic productionenergyexport banGasinflationMarketsPolicies & ImpactsrefinersUSUS News
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U.S. refiners requested the Department of Energy to reconsider a potential natural gas export ban. They explained the intricacies of the natural gas-supply chain and the adverse effects on prices and jobs, as well as the geopolitical implications the country could be forced to endure in such a scenario. “Banning or limiting the export of…

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US Refiners Eye Canadian Oil Once Strategic Reserve Turns Off Taps

September 20, 2022
Biden administraitonBusiness & MarketsCanadaCanadiancrudeeconomyEuropeGold and CommoditiesinvasionMarketsrefinersRussia-Ukraine WarUSUS NewsWorld
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NEW YORK—U.S. refiners are expected to buy more Canadian oil after the Biden administration ends releases from the Strategic Petroleum Reserve (SPR) this fall, traders said, adding this should boost the price of Canadian barrels at a time of tight global supply. The coming end of SPR releases could shift market dynamics again in a…

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