Breaking: fire erupts at large Chevron refinery in California. That's the Oilprice.com headline. Clickbait and a non-story. Unless.....regulators or the company shuts down the refinery for even twenty-four hours ... then, it's a big story ...
At around 6:15 p.m. on Tuesday, El Segundo Fire Department responded to an isolated fire inside the Chevron El Segundo Refinery.
After some two hours, the fire was extinguished, and “There was no offsite impact or public threat,” the city of El Segundo said.
The El Segundo Refinery, capable of processing 290,000 barrels of crude oil per day (bpd), supplies 20 percent of all motor vehicle fuels and 40 percent of the jet fuel consumed in Southern California, Chevron says.
Largest US refinery: ready to re-open after scheduled maintenance, link here --
The Port Arthur refinery, America’s largest, is set to raise fuel production after its owner, Motiva Enterprises, moved this week to restart units at the 630,000-bpd refinery after planned maintenance that spanned longer than a month.
The Port Arthur Refinery, which is also the largest refinery in North America, produces conventional gasoline, commercial aviation fuel, Ultra Low Sulfur Diesel, Export (High Cetane) Diesel, and Texas Low Emissions Diesel.
The refinery typically produces 275,000 barrels of branded fuel every day, and 40,000 barrels of base oil per day.
Autos:
- Nissan reported a 45% jump in second-quarter profit and sharply hiked its full-year outlook, helped by cost-cutting, higher-margin sales and a weaker yen. It will be interesting to see how Nissan did in the US. Ditto for Honda.
- Honda posted a 16% rise in second-quarter profit and lifted its full-year outlook, as better pricing, strong sales of motorcycles and the weak yen helped it ride out semiconductor shortages.
2022 mid-terms, early analysis, based on less than five minutes of social media headlines:
- no "red wave"
- GOP debacle in big scheme of things
- GOP to take US House but with centrist Republicans
- Trump faction "out"
- Texas: closer than many/most folks think
- sure, it was a landslide for Abbott (using the term loosely) but look at the map
- Beto: despite being perceived as supporting "open borders," the border counties supported Beto by huge margin ... a huge margin ... Hispanics did not turn out for GOP as headlined prior to the midterms -- huge implications for GOP in Texas
- all five major urban areas in Texas went solidly for Beto
- exception: Tarrant County (Ft Worth) and even Tarrant County was purple
- if the Dems hold the US Senate, the 2022 mid-terms will be seen as a win for Biden, a loss for Trump
- might the Dems' lead in the US Senate widen?
- how in the world did the GOP let Dr Oz run?
- my only takeaway, nationally
- social issues took precedence over economy, inflation, price of gasoline
- or voters felt Dems could handle the economy, inflation, price of gasoline better than the GOP;
- Pennsylvania: blue
- Florida: solidly red
- Texas: purple
- not a great optic for 2024 presidential election if one is aligned with GOP
***********************************
Back to the Bakken
The Far Side: link here.
Active rigs: 39.
WTI: $87.18.
Natural gas: $5.774
Thursday, November 10, 2022: 19 for the month, 56 for the quarter, 601 for the year.
35491, conf, Enerplus, FB Leviathan 151-94-27A-34-15T,
35490, conf, Enerplus, FB Leviathan 151-94-27A-34-13B,
Wednesday, November 9, 2022: 17 for the month, 54 for the quarter, 599 for the year.
38383, conf, Oasis, Swenson Federal 5197 43-35 5B,
38337, conf, Oasis, Soto 5097 12-3 6B,
35492, conf, Enerplus, FB Leviathan 151-94-27A-34-16B,
RBN Energy: will emissions limits force Canadian E&Ps to reduce production?
Despite global energy insecurities, many countries continue to push forward with efforts to incentivize an energy transition and fulfill emission-reduction targets. Canada has been no exception, with its federal government earlier this year introducing detailed climate goals for each of its major economic sectors, with particular emphasis placed on oil and gas, the country’s largest emitter. With the aim of a 42% emissions reduction for this sector by 2030 versus 2019 levels, Canada has set a target that may well be beyond reach, raising the possibility that production cutbacks later this decade will be the only alternative. In today’s RBN blog, we examine this potentially disruptive prospect.
All eyes have been on Europe this year as the continent grapples with low natural gas supplies, exacerbated by the loss of Russian gas, and the worry that it may have been shifting too quickly to renewables at the expense of energy security. Still, Europe, like the U.S., Canada and many other countries, is trying its best to maintain — or even accelerate — efforts to transition the global energy complex away from fossil fuels and reduce emissions of greenhouse gases (GHGs) such as carbon dioxide (CO2) and methane. In Canada, the federal government has been crafting an emissions-reduction strategy for the past several years and in March it released additional details on the climate goals for the country’s major economic sectors, including oil and gas. Entitled “2030 Emissions Reduction Plan,” the government considers each sector’s emissions and outlines various pathways that could be utilized to achieve the desired reduction for each sector. In that document, the 2030 emissions-reduction goal for the oil and gas sector was set at 42% (versus the 2019 levels).
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