Released July 06, 2020 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--IIR's weekly North American Refining Report gives you the latest inside intelligence on outages, derates, shutdowns, closures, delays and more. Tomorrow's news today... [and now there is an interactive, dynamic North America Refining Dashboard available to power your research -- just ask iirteam@iirenergy.com about taking it for a spin...]
Market Commentary:
IIR Fundamental Analytics
Bloomberg reports, "As the nation heads into the Fourth of July holiday, officials urged citizens to stay home to mitigate the impact of the pandemic. The latest projections include the possibility of a second wave of deaths, with as many as 199,000 deaths by October."
Therefore, as we know the health of the refineries is closely tied to the health of the nation and the latter is not improving -- as once thought through phased re-openings -- which means we'll see refinery operations likely affected in the coming weeks.
So intriguing times are indeed here in North America as one tries to get a good handle on the overall Supply and Demand picture and its impact on the energy industry. Therefore, within this North America Refining Report, IIR hopes to shed some light on what is transpiring from a refinery operations perspective all the way down to the refinery level in Canada. Incorporating a North America Refinery Map as well as Area Chart to illustrate collectively when we can expect refinery capacity to return over the next month or so. For the U.S., IIR is even providing a chart to indicate when we might expect PADDs themselves to become healthier.
Petroleum Refining Highlights
July 2, 2020 North America - U.S., PADD III: CITGO Petroleum, on July 1, 2020, experienced a mechanical issue and was forced to shut down the 69,000-barrel-per-day (BBL/d) FCCU 2. It was able to restart the unit later the same day on the East Plant of its 165,000-BBL/d Corpus Christi, Texas Refining Complex.
July 3, 2020 South America, Peru: Petroperu SA continues running its 15,500-BBL/d Conchan, Peru refinery at approximately 50% capacity due to the COVID-19 pandemic. The company expects to maintain those levels until end of the month.
July 2, 2020 South America, Venezuela: IIR has learned that PDVSA has not yet restarted the 75,000-BBL/d Crude Distillation 1, 58,000-BBL/d Vacuum 3 at its 295,000-BBL/d Cardon Venezuela refinery after being forced offline on June 12 due to mechanical issues; a restart is now planned for mid-July. The 77,000-BBL/d FCC continues online, processing 35,000-BBL/d; the 70,000-BBL/d Crude 3 remains online, while a restart date for the 75,000-BBL/d Crude Distillation 2 remains uncertain at this time.
July 2, 2020 South America, Bolivia: IIR has confirmed that Yacimientos Petroliferos Fiscales Bolivianos' (YPFB) 38,500-BBL/d Gualberto Villarroel, Bolivia refinery continues to process at lower rates due to COVID-19 pandemic. The facility is currently running at 50% capacity; the state-owned company will be evaluating that rate as demand for petroleum products drops due to COVID-19.
CLICK ON THE IMAGES AND GRAPHS BELOW FOR A LARGER VIEW
Map of North American Refineries impacted by COVID-19/non-COVID -- Ongoing Offline Events
North America Refining Index
North American Refining Area Chart
Canada Refineries
US PADDs
Map of North American Refineries impacted by COVID-19/non-COVID -- Future Offline Events
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Market Commentary:
IIR Fundamental Analytics
Bloomberg reports, "As the nation heads into the Fourth of July holiday, officials urged citizens to stay home to mitigate the impact of the pandemic. The latest projections include the possibility of a second wave of deaths, with as many as 199,000 deaths by October."
Therefore, as we know the health of the refineries is closely tied to the health of the nation and the latter is not improving -- as once thought through phased re-openings -- which means we'll see refinery operations likely affected in the coming weeks.
So intriguing times are indeed here in North America as one tries to get a good handle on the overall Supply and Demand picture and its impact on the energy industry. Therefore, within this North America Refining Report, IIR hopes to shed some light on what is transpiring from a refinery operations perspective all the way down to the refinery level in Canada. Incorporating a North America Refinery Map as well as Area Chart to illustrate collectively when we can expect refinery capacity to return over the next month or so. For the U.S., IIR is even providing a chart to indicate when we might expect PADDs themselves to become healthier.
Petroleum Refining Highlights
July 2, 2020 North America - U.S., PADD III: CITGO Petroleum, on July 1, 2020, experienced a mechanical issue and was forced to shut down the 69,000-barrel-per-day (BBL/d) FCCU 2. It was able to restart the unit later the same day on the East Plant of its 165,000-BBL/d Corpus Christi, Texas Refining Complex.
July 3, 2020 South America, Peru: Petroperu SA continues running its 15,500-BBL/d Conchan, Peru refinery at approximately 50% capacity due to the COVID-19 pandemic. The company expects to maintain those levels until end of the month.
July 2, 2020 South America, Venezuela: IIR has learned that PDVSA has not yet restarted the 75,000-BBL/d Crude Distillation 1, 58,000-BBL/d Vacuum 3 at its 295,000-BBL/d Cardon Venezuela refinery after being forced offline on June 12 due to mechanical issues; a restart is now planned for mid-July. The 77,000-BBL/d FCC continues online, processing 35,000-BBL/d; the 70,000-BBL/d Crude 3 remains online, while a restart date for the 75,000-BBL/d Crude Distillation 2 remains uncertain at this time.
July 2, 2020 South America, Bolivia: IIR has confirmed that Yacimientos Petroliferos Fiscales Bolivianos' (YPFB) 38,500-BBL/d Gualberto Villarroel, Bolivia refinery continues to process at lower rates due to COVID-19 pandemic. The facility is currently running at 50% capacity; the state-owned company will be evaluating that rate as demand for petroleum products drops due to COVID-19.
CLICK ON THE IMAGES AND GRAPHS BELOW FOR A LARGER VIEW
Map of North American Refineries impacted by COVID-19/non-COVID -- Ongoing Offline Events
North America Refining Index
North American Refining Area Chart
Canada Refineries
US PADDs
Map of North American Refineries impacted by COVID-19/non-COVID -- Future Offline Events
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
