So, Just Where Do US Oil Refiners Stand? June 21, 2023

Locator: 44998REFINERS. 

We're gonna hit another record this year! Take this to the bank! 

• 18.3 + 0.25 = 18.55
• 18.98 - 18.55 = 0.43 = 2.3%.

Link here to Reuters.

HOUSTON (Reuters) -

U.S. crude oil refining capacity has reversed two years of declines and climbed by more than 100,000 barrels, to 18.1 million barrels per day. This year’s 18.1 million bpd capacity remains below the 18.98 million bpd peak in 2019.

During the first two years of the COVID-19 pandemic, processing capacity to produce gasoline, diesel and jet fuel fell 5.4% ...

..... prices surged, Biden demanded prices come down and refiners responded by increasing capacity ...

Increases reflect capacity expansions at Marathon Petroleum and Citgo Petroleum.

The total does not include a 250,000 bpd increase that came after the cutoff date at Exxon Mobil’s Beaumont, Texas refinery in March of this year. The Beaumont expansion, the largest addition to a U.S. refinery in more than a decade, pushed the total to about 18.3 million bpd, still shy of the 2019 peak.

Marathon Petroleum Corp remains the nation’s largest refiner, with its Garyville, Louisiana, refinery now the nation’s third largest with 596,000 bpd capacity.

Marathon’s 2.9 million-bpd crude oil refining capacity represents 16% of the nation’s total.

Valero Energy Corp remains the second-largest U.S. refiner by volume with its 2.1 million bpd capacity equal to 12% of the U.S. total.

Motiva Enterprises, which operates the 626,000-bpd Port Arthur, Texas, refinery, operates the single largest refinery by capacity in the U.S. with Exxon’s Beaumont plant just behind it. Motiva is the U.S. refining arm of Saudi Aramco.

Citgo Petroleum Corp’s Lake Charles, Louisiana refinery grew by 37,000-bpd to 455,000-bpd.

The increase comes as cars and trucks are switching to renewable fuels and rechargable batteries instead of fossil fuels to reduce rising global temperatures from climate change.

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Christopher Nolan Filmography

The films:

• Following (1998)
• Memento (2000) 
• Insomnia (2002) 
• Batman Begins (2005) 
• The Prestige (2006) 
• The Dark Knight (2008) 
• Inception (2010) 
• The Dark Knight Rises (2012) 
• Interstellar (2014) 
• Dunkirk (2017) 
• Tenet (2020) 
• Oppenheimer (2023)