Valero to run its 14 refineries at up to 96.5% capacity in Q4

Valero Energy plans to operate its 14 oil refineries in North America and Britain at up to 96.5% of their combined total throughput capacity of 3.2 million bpd in the fourth quarter, said Hydrocarbonprocessing.

Valero's refineries in the U.S., Canada and Wales ran at 95% of their combined capacity in the third quarter of the year, Bhullar said in conference call to discuss results with Wall Street analysts.

For the fourth quarter, the low end of the range was 93% of total combined throughput. The San Antonio, Texas-based company issues its throughput plans in a range for sectors for its refineries, including in its throughput totals not just crude oil but other feedstocks used in making refined products.

Bhullar said Valero's U.S. Gulf Coast refineries will operate between 1.77 million bpd and 1.82 million bpd, or 95% to 98% of their total combined throughput. Its U.S. mid-continent refineries will run between 445,000 bpd and 465,000 bpd, or 92% to 96% of their combined capacity.

Valero's two California refineries are planned to run between 245,000 bpd and 265,000 bpd in the fourth quarter, or 80% to 87% of their combined capacity. The refineries in Canada and Wales supplying the North Atlantic market plan to operate at 470,000 bpd and 490,000 bpd of combined throughput or 93% to 97%.

We remind, Valero Energy Corporation declares regular cash dividend on Common Stock. The Board of Directors of Valero Energy Corporation has declared a regular quarterly cash dividend on common stock of USD1.02 per share. The dividend is payable on June 22, 2023 to holders of record at the close of business on May 23, 2023.

mrchub.com

TechnipFMC has been given a deal to produce flexible pipe by Woodside Energy. The firm will provide infield flowlines and jumpers for the Trion project in deepwater Mexico, said the company.

The Company will supply infield flowlines and jumpers for the Trion project in deepwater Mexico.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We worked with Woodside to formulate the best technical solution for this milestone project. This contract is our largest flexible pipe award in the Gulf of Mexico to date, and builds upon the trust we have established with Woodside over many years of successful execution and delivery.”

We remind, TechnipFMC has been awarded a significant(1) contract to supply flexible pipes to Petrobras for the pre-salt fields offshore Brazil. The Company will design, engineer, and manufacture 14 kilometers of gas injection riser pipes. TechnipFMC will also supply associated services including packing and storage.

mrchub.com

Honeywell announced the availability of technologies and digital solutions to enable customers in Asia Pacific to produce renewable fuels from multiple sources of renewable feedstocks, said Hydrocarbonprocessing.

Refiners are facing market changes as the drive toward sustainability accelerates to lower greenhouse gas (GHG) emissions. It is imperative for companies to adopt ready now technologies that can help them produce low-carbon, sustainable fuels while maximizing available resources, reducing waste, and meeting their sustainability goals.

To help customers address this challenge and the rapidly growing demand for renewable fuels, Honeywell UOP offers solutions that enable the production of sustainable aviation fuel (SAF), renewable diesel, and other renewable fuels from a broad range of potential renewable feedstock sources.

Honeywell offers cyber-secure Experion® Solution Suites and Forge Performance+ digital solutions by embedding Process knowledge into Automation, harnessing the power of ubiquitous sensors, Virtual Technologies and Digital Twins while simultaneously humanizing Artificial intelligence for future-ready operations.

Honeywell is committed to achieving carbon neutrality in its operations and facilities by 2035. About 60% of Honeywell's 2022 new product introduction research and development investment was directed toward ESG-oriented outcomes for customers.

We remind, Honeywell introduced Experion Solution Suites (ESS), an end-to-end automation software package for licensed Honeywell UOP units. The ready-now technology offers embedded process solutions within Honeywell’s flagship ExperionPKS automation platform.

mrchub.com

LyondellBasell Industries announced net income for the third quarter 2023 of $0.7 billion, or $2.29 per diluted share, said the company.

During the quarter, the company recognized identified items of $57 million, net of tax, which impacted third quarter earnings by $0.17 per share. Third quarter 2023 EBITDA was $1.4 billion.

Exceptional oxyfuels margins contributed to a record Intermediates & Derivatives EBITDA of $708 million during the third quarter. Global olefins and polyolefins margins were compressed by higher feedstock costs, tepid polymer demand in both the U.S. and Europe, and new industry capacity. North American polyethylene export volumes increased as global trade flows continued to normalize toward pre-pandemic levels.

LyondellBasell generated $1.7 billion in cash from operating activities in the third quarter and achieved 102% cash conversion over the past twelve months. The company remains committed to its balanced and disciplined capital allocation framework and priorities. Third quarter cash from operating activities covered the repayment of maturing bonds, capital investments and the return of $448 million to shareholders through dividends and share repurchases. Cash and short-term investments increased by $350 million during the quarter. Available liquidity was $7 billion at the end of the quarter.

We remind, LyondellBasell acquired its 50% share from De Paauw Sustainable Resources (DPSR) CEO Roy de Paauw and ING Corporate Investments, said the company. DPSR is a plastics waste recycling company based out of the Netherlands. The Dutch plastic recycling firm engages in the procurement, processing, and trade of post-consumer and post-industrial plastic packaging waste.

mrchub.com

MRC -- Russian wholesale gasoline prices were steady, while diesel prices edged up amid government efforts to ensure stability on the domestic fuel market, said Hydrocarbonprocessing.

Gasoline Ai-92 grade prices were down 0.04% on the day at 50,629 roubles ($544.87) per metric ton, data from the St Petersburg International Mercantile Exchange (SPIMEX) showed.

Diesel prices rose by 0.15% on the day to 56,377 roubles per metric ton, exchange data showed. For the week, gasoline prices declined by 2.45%, while diesel decreased by 2.18%.

Russia introduced a ban on fuel exports on Sept. 21 to tackle high prices and shortages. The government eased restrictions on Oct. 6, allowing the export of diesel by pipeline, but kept measures on gasoline exports in place.

We remind, Russia has sent record volumes of sea-borne fuel oil and vacuum gasoil to India in September, replacing some crude oil volumes, traders said and LSEG data showed. The move will cement India's position as the top buyer of Russian crude and products at the expense of shipments by previously dominant OPEC producers, allowing Moscow to collect stable and rising revenue despite Western sanctions.

mrc.ru