Released January 18, 2021 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--IIR's weekly Global Refining Report gives you the latest inside intelligence on outages, derates, delays and more. And now there is an interactive, dynamic Global Refining Capacity Dashboard available to further power your refinery capacity research.
And, IIR's Refining Global MarketIntel (RGMI) Platform -- the first of its kind in the industry -- is being launched in January 2021. Research, data, technology and analytics contribute to drive actionable MarketIntel, providing answers in today's uncertain crude fundamental world. Tomorrow's News. Today.
This platform is part of a more comprehensive IIR Global MarketIntel Platform.
Just ask iirteam@iirenergy.com for further information.
Market Commentary:
Not again... Just before the Lunar New Year in China, lockdowns are occurring once again with Reuters indicating that "China (is) reporting more than 100 new COVID-19 cases for the sixth consecutive day, with rising infections in the northeast fueling concerns of another national wave ahead of the country's biggest holiday." And the hydrocarbon world has been looking to the supposed health in Asia to drive demand here in 2021. What will this portend?
[Brent Forward Curve, Fundamental Analytics]
The Wall Street Journal writes that though "Oil and gas prices are rebounding from their pandemic lows, (...) the road ahead for the industry remains challenging amid new competitive threats and demands from investors."
"Global spending on oil and gas production is poised to remain below pre-pandemic levels through at least 2025, according to consulting firm Wood Mackenzie, as companies face pressure to improve returns and reduce their greenhouse-gas emissions. Meanwhile, investment in renewables and other clean energy technologies is taking off, threatening to eat into the market for oil and gas long-term."
"Though oil prices have notched gains since November, they're expected to remain below levels that support attractive returns, particularly for an industry still recuperating from last year's historic drop in fuel demand."
So, in all likelihood, it will be a rocky recovery road ahead. Hopefully, investors are suitably prepared for the shocks which will reverberate throughout the industry.
Therefore, within this Global Refining Report, IIR hopes to shed some light on what is transpiring from a refinery operations perspective as the Global Refining Index (working with ADUs) illustrates what is happening to crude operationally available capacity and how refineries are de-rating and operating overall in these times. The Global Refinery Maps depict the COVID-19 impact as well as the non-COVID-19 outages. Area charts visualize the COVID-19 impact and non-COVID-19 capacity offline in Asia, Europe and North America.
Petroleum Refining Highlights:
January 14, 2021 North America: U.S. PADD III. Flint Hills, on Tuesday, January 19, will shut down the 55,000-barrel-per-day (BBL/d) FCCU for a 30-day planned maintenance turnaround in the West Complex of its 300,000-BBL/d Corpus Christi, Texas, refinery. Previously, IIR had reported the 30,000-BBL/d Hydrocracker as part of this event, but it will not be included at this time.
January 14, 2021 North America: U.S. PADD III. Phillips 66 has completed restart procedures of its 250,000-BBL/d Belle Chasse, Louisiana, Alliance Refinery after shutting down on September 14, 2020.
January 15, 2021 North America: Mexico. IIR has learned that Pemex TRI on January 11, 2021, restarted the 162,000-BBL/d Crude Primaria 1, 28,000-BBL/d Naphtha HDS U 400, 20,000-BBL/d Reformer U 500-1 and associated units located in Sector 3 Hidro 1 Area at its 325,000-BBL/d Salina Cruz, Mexico, refinery. Units were shut down on January 4 for security measures due to a fire at an effluent area near Primaria 1. Crude Primaria 1 is processing 50,000-BBL/d; the 163,000-BBL/d Crude Primaria 2 is processing 65,000-BBL/d, while the rest of the processing units are being kept at approximately 36% of normal capacity.
January 15, 2021 NorthWest Europe: Germany. Mineraloelraffinerie Oberrhein GmbH & Co KG remains on schedule for a planned maintenance turnaround at its 309,000-BBL/d Miro Refinery, in Karlsruhe, Germany. Units involved include the 75,000-BBL/d Crude Topping Unit 1, 134,100 Crude Topping Unit 2, 27,000-BBL/d.
January 15, 2021 Russia. LUKOIL-Nizhegorodnefteorgsintez continues with an unplanned maintenance turnaround of the 54,000-BBL/d Vacuum Gas Oil Hydrotreater (GO VG) unit at its 354,561-BBL/d Nizhegorodnefteorgsintez Refinery in Russia. The unit was shut down on October 18, 2020, due to unplanned maintenance. The unit was expected to be restarted in early January, but the restart has been pushed to late January.
January 15, 2021 North Asia: China. CNOOC Huizhou Refining Company has rescheduled a planned area-wide turnaround at its 440,000-BBL/d Huizhou China Refinery. The 50-day maintenance shutdown now is planned to commence on March 4 and is expected to last until April 22. Major units within Area 5 - Area 8 include the 200,000-BBL/d CDU 2, 96,000-BBL/d FCCU 2, 68,000-BBL/d Diesel Hydrotreater 2, 48,000-BBL/d Gasoline Hydrotreater 2 and 36,000-BBL/d Reformer 2 (CCR 2). The turnaround was previously scheduled from February 25 to April 25.
January 15, 2021 North Asia: Japan. Cosmo Oil Company Limited is on schedule to perform a 29-day planned turnaround on the 36,000-BBL/d Residual Hydrotreater 10 at its 177,000-BBL/d Chiba Japan Refinery on April 11. Expectations are to complete repairs and restart the unit by May 9. The 25,000-BBL/d Reformer 2 is also shutting down in a sympathy outage from April 11 to May 9. Meanwhile, the 75,000-BBL/d Crude 1, 102,000-BBL/d Crude 2, 40,000-BBL/d FCC, 11,500-BBL/d Reformer 1 and 36,000-BBL/d Residual Hydrotreater Unit 20 will remain operational.
CLICK ON THE MAPS AND GRAPHS BELOW FOR A LARGER VIEW
Map of Global Refineries impacted by COVID-19/non-COVID -- Ongoing Offline Events
Global Refining Index
Industrial Info's Global Refining Index (GRI) illustrates how much refining capacity is offline, as opposed to normal operating capacity. The GRI illustrates the health of refineries on both global and market-region levels.
North America Refining Index
Global Regional Available Operational Capacity. COVID-19 Impact & non-COVID-Related Outages
U.S. PADDs
Map of Global Refineries impacted by COVID-19/non-COVID - Future (Delayed) 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.
And, IIR's Refining Global MarketIntel (RGMI) Platform -- the first of its kind in the industry -- is being launched in January 2021. Research, data, technology and analytics contribute to drive actionable MarketIntel, providing answers in today's uncertain crude fundamental world. Tomorrow's News. Today.
This platform is part of a more comprehensive IIR Global MarketIntel Platform.
Just ask iirteam@iirenergy.com for further information.
Market Commentary:
Not again... Just before the Lunar New Year in China, lockdowns are occurring once again with Reuters indicating that "China (is) reporting more than 100 new COVID-19 cases for the sixth consecutive day, with rising infections in the northeast fueling concerns of another national wave ahead of the country's biggest holiday." And the hydrocarbon world has been looking to the supposed health in Asia to drive demand here in 2021. What will this portend?
[Brent Forward Curve, Fundamental Analytics]The Wall Street Journal writes that though "Oil and gas prices are rebounding from their pandemic lows, (...) the road ahead for the industry remains challenging amid new competitive threats and demands from investors."
"Global spending on oil and gas production is poised to remain below pre-pandemic levels through at least 2025, according to consulting firm Wood Mackenzie, as companies face pressure to improve returns and reduce their greenhouse-gas emissions. Meanwhile, investment in renewables and other clean energy technologies is taking off, threatening to eat into the market for oil and gas long-term."
"Though oil prices have notched gains since November, they're expected to remain below levels that support attractive returns, particularly for an industry still recuperating from last year's historic drop in fuel demand."
So, in all likelihood, it will be a rocky recovery road ahead. Hopefully, investors are suitably prepared for the shocks which will reverberate throughout the industry.
Therefore, within this Global Refining Report, IIR hopes to shed some light on what is transpiring from a refinery operations perspective as the Global Refining Index (working with ADUs) illustrates what is happening to crude operationally available capacity and how refineries are de-rating and operating overall in these times. The Global Refinery Maps depict the COVID-19 impact as well as the non-COVID-19 outages. Area charts visualize the COVID-19 impact and non-COVID-19 capacity offline in Asia, Europe and North America.
Petroleum Refining Highlights:
January 14, 2021 North America: U.S. PADD III. Flint Hills, on Tuesday, January 19, will shut down the 55,000-barrel-per-day (BBL/d) FCCU for a 30-day planned maintenance turnaround in the West Complex of its 300,000-BBL/d Corpus Christi, Texas, refinery. Previously, IIR had reported the 30,000-BBL/d Hydrocracker as part of this event, but it will not be included at this time.
January 14, 2021 North America: U.S. PADD III. Phillips 66 has completed restart procedures of its 250,000-BBL/d Belle Chasse, Louisiana, Alliance Refinery after shutting down on September 14, 2020.
January 15, 2021 North America: Mexico. IIR has learned that Pemex TRI on January 11, 2021, restarted the 162,000-BBL/d Crude Primaria 1, 28,000-BBL/d Naphtha HDS U 400, 20,000-BBL/d Reformer U 500-1 and associated units located in Sector 3 Hidro 1 Area at its 325,000-BBL/d Salina Cruz, Mexico, refinery. Units were shut down on January 4 for security measures due to a fire at an effluent area near Primaria 1. Crude Primaria 1 is processing 50,000-BBL/d; the 163,000-BBL/d Crude Primaria 2 is processing 65,000-BBL/d, while the rest of the processing units are being kept at approximately 36% of normal capacity.
January 15, 2021 NorthWest Europe: Germany. Mineraloelraffinerie Oberrhein GmbH & Co KG remains on schedule for a planned maintenance turnaround at its 309,000-BBL/d Miro Refinery, in Karlsruhe, Germany. Units involved include the 75,000-BBL/d Crude Topping Unit 1, 134,100 Crude Topping Unit 2, 27,000-BBL/d.
January 15, 2021 Russia. LUKOIL-Nizhegorodnefteorgsintez continues with an unplanned maintenance turnaround of the 54,000-BBL/d Vacuum Gas Oil Hydrotreater (GO VG) unit at its 354,561-BBL/d Nizhegorodnefteorgsintez Refinery in Russia. The unit was shut down on October 18, 2020, due to unplanned maintenance. The unit was expected to be restarted in early January, but the restart has been pushed to late January.
January 15, 2021 North Asia: China. CNOOC Huizhou Refining Company has rescheduled a planned area-wide turnaround at its 440,000-BBL/d Huizhou China Refinery. The 50-day maintenance shutdown now is planned to commence on March 4 and is expected to last until April 22. Major units within Area 5 - Area 8 include the 200,000-BBL/d CDU 2, 96,000-BBL/d FCCU 2, 68,000-BBL/d Diesel Hydrotreater 2, 48,000-BBL/d Gasoline Hydrotreater 2 and 36,000-BBL/d Reformer 2 (CCR 2). The turnaround was previously scheduled from February 25 to April 25.
January 15, 2021 North Asia: Japan. Cosmo Oil Company Limited is on schedule to perform a 29-day planned turnaround on the 36,000-BBL/d Residual Hydrotreater 10 at its 177,000-BBL/d Chiba Japan Refinery on April 11. Expectations are to complete repairs and restart the unit by May 9. The 25,000-BBL/d Reformer 2 is also shutting down in a sympathy outage from April 11 to May 9. Meanwhile, the 75,000-BBL/d Crude 1, 102,000-BBL/d Crude 2, 40,000-BBL/d FCC, 11,500-BBL/d Reformer 1 and 36,000-BBL/d Residual Hydrotreater Unit 20 will remain operational.
CLICK ON THE MAPS AND GRAPHS BELOW FOR A LARGER VIEW
Global Refining Index
Industrial Info's Global Refining Index (GRI) illustrates how much refining capacity is offline, as opposed to normal operating capacity. The GRI illustrates the health of refineries on both global and market-region levels.
North America Refining Index
U.S. PADDs
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.
