U.S. Refineries Prep for Turnarounds Amid Busy Summer Season
Attachment: US Pet Ref maint 3Q23
Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. refineries are reporting their highest runs since August 2019, as refiners ramp up their production ahead of the summer driving season. Domestic refineries operated at 95.8% of their full capacity last week, according to the U.S. Energy Information Administration (EIA), and proper maintenance is necessary to keep these facilities operating in peak condition.
Industrial Info is tracking about $590 million worth of maintenance-related projects that are set to kick off at refineries across the U.S. in the third quarter, more than half of which is attributed to projects in Texas and Louisiana. Phillips 66 (NYSE:PSX) (Houston, Texas) accounts for more maintenance projects and more related investment than any other parent company in the third quarter.
Other companies featured: TotalEnergies SE (NYSE:TTE) and Koch Industries Incorporated
