Published on
Tuesday, January 5 2021
Authors: Jonathan Leitch
We entered 2020 with the expectation of higher refining margins, driven by a continuation of strong global economic activity supplemented by an expected IMO boost to product margins and widening of heavy crude discounts. Instead, the COVID-19 pandemic quickly dashed those expectations, with the unprecedented drop in petroleum demand from…
Published on
Monday, December 21 2020
Authors: John Auers
As the COVID-19 pandemic continues to persist and impact our lives, lifestyles, and livelihood in so many negative and disruptive ways, it might be tough this Christmas for many of you to get into the celebrating mood. 2020 certainly has been a challenging year both personally and professionally, and uncertainties…
Published on
Tuesday, December 15 2020
Authors: John Mayes and John Auers
In the last ten years, refining capacity in Latin America has declined by over 230 MBPD in spite of growing demand, which has increased by about 120 MBPD. Further exacerbating this growing imbalance is a sharp decline in the refinery utilization rates of the existing refineries in the region. In…
Published on
Tuesday, December 8 2020
Authors: John Mayes and John Auers
For the global refining industry, 2020 has been an exceptionally tumultuous year. As we’ve discussed in our blogs over the last few weeks, the COVID-19 pandemic induced a collapse in the consumption of petroleum products which has resulted in the closure of numerous refineries around the world. Along with the…
