BKR: 2Q22 earnings. Shares are down 6% in pre-market trading.
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Back to the Bakken
Far Side: link here.
WTI: $102.80. Folks getting nervous about what Biden might do later today.
Natural gas: $7.430.
NDIC GIS map: remains in-op.
Active rigs: 41 or thereabouts
Wednesday, July 20, 2022: 16 for the month, 16 for the quarter, 355 for the year
- 26368, conf, Slawson, Armada Federal 2-14-13H,
RBN Energy: a key driver behind today's high refining margins.
Refining margins today — whether in the U.S. Gulf Coast (USGC), Rotterdam or Singapore — are at record highs.
Given current high crude oil prices, gasoline and diesel prices at the pump everywhere are also at unprecedented levels, making refinery profits a major topic of conversation — and not just for politicians. While some of the explanations of refining margins are just political talking points, several others are well-established and accepted, and still others consider factors that are less frequently cited, even by those familiar with energy markets.
One such factor is the price of natural gas and how it’s impacting refinery operations and competitiveness around the world. Today’s RBN blog discusses the crucial role natural gas prices play in refinery operating expenses and refining margins, and examines how favorable natural gas prices in the U.S. are providing a substantial competitive advantage for domestic refiners.
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