Irving Oil has finally been able to secure federal approval for a new route to connect the oilsands to its refinery on the East Coast. But to circumvent provincial and environmental opposition faced during efforts to build the pipeline oil will be shipped on foreign tankers from British Columbia to its refinery in Saint John, New Brunswick, via the Panama Canal.
Aruba is offering to lease oil storage following the termination a refining project with PDVSA. It has 10 available storage tanks with capacity for 665kBbl of clean products, 5.224MnBbl of crude and 518kBbl of naphtha. Seven of the tanks, which have capacity for 4.224MnBbl of crude, are currently awaiting repairs.
As a result of a growing glut of jet fuel US refiners are repurposing the finished fuel into higher margin products, in particular diesel.
Sinopec's Jingmen refining and petrochemical complex in central Hubei province is scheduled to start-up its newly built 56kbd (2.8Mnta) heavy oil catalytic cracker on 30 May.
Valero Energy, which had reduced production at several refineries in late March and early April as demand fell in response to the coronavirus crisis, now plans to operate its 15 refineries up to 73% of the combined total throughput of 3.1Mnbd (155Mnta) in 2Q20.