MOSCOW (MRC) -- San Antonio-based Valero Energy Corp, the second-largest US oil refiner plans to run its 14 refineries at between 88% and 92% of their combined capacity of 3.2 million barrels per day (bpd) in the fourth quarter, reported Reuters with reference to a company executive's statement.
Valero's seven US Gulf Coast refineries are scheduled to operate between 90% and 93% of their combined capacity of 1.9 million bpd, said Homer Bhullar, vice president of investor relations and finance, during a Thursday conference call to discuss third-quarter results.
Jet fuel demand, which has been lagging behind gasoline and diesel demand as lockdowns and work-from-home policies ebbed in 2021, has moved above 80% of 2019 levels, he said.
Valero Chief Executive Joe Gorder said it was unlikely the company would buy another refinery.
Valero has spent several years improving refineries bought in the early part of this century "to a standard that we were comfortable operating in," Gorder said.
As MRC wrote previously, Valero Energy Corp. operated its 14 refineries up to 89% of their combined total throughput capacity of 3.15 million barrels per day (bpd) during the second quarter of 2021.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,638,370 tonnes in the first eight months of 2021, up by 10% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 989,570 tonnes in the first eight months of 2021, up by 30% year on year. Deliveries of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas shipments of injection moulding PP random copolymers decreased significantly.