AMERICAS OIL: Motiva Port Arthur Delays Fall Work on Largest CDU By a Year
May-22 16:45
Motiva Port Arthur Delays Fall Work on Largest CDU By a Year
- Motiva’s 641k b/d Port Arthur refinery on the Texas Gulf Coast delayed a planned turnaround that includes its biggest crude unit to fall 2027 from this autumn to take advantage of strong product margins, people familiar with operations said according to Bloomberg.
- Work includes the 345k b/d VPS-5 crude unit as well as a 115k b/d naphtha hydrotreater, an 85k b/d catalytic reformer and a 50k b/d isomerization unit in its Naphtha Processing Complex.
- Work is underway on the six-drum DCU 2, a 110k b/d delayed coker that processes vacuum residue from VPS 5 to make higher-valued distillate products.
- The next scheduled turnaround is set for February and will include a gas oil hydrotreater and a unit in the crudes section that makes lube oil.
- More US refiners are rethinking maintenance plans scheduled for fall 2026 and early 2027 because of strong margins expected to persist through this year as the war with Iran has disrupted supply chains, the people said.
- “Inventories around the world are drawing really hard and at the current rate will be at critical levels in a couple of months unless demand falls,” said Randy Hurburun, head of refining for London consultancy Energy Aspects.
- Motiva Enterprises LLC is an American company operating as a fully-owned affiliate of Saudi Aramco, and the VPS-5 processes mainly heavy sour crude from Saudi Arabia.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
FED: US TSY 19Y-10M BOND AUCTION: NON-COMP BIDS $56 MLN FROM $13.000 BLN TOTAL
Apr-22 16:45
- US TSY 19Y-10M BOND AUCTION: NON-COMP BIDS $56 MLN FROM $13.000 BLN TOTAL
US TSYS: Midday Update: Extending Lows as Crude Rises, 20Y Auction Re-Open
Apr-22 16:43
- Treasury futures are currently extending session lows as crude prices continue to gain (WTI +3.64 to $93.31/bbl) - despite cooling middle east tension after Pres Trump extended a ceasefire period with Iran late Tuesday for another 3-5 days. Markets apparently discounting hope that a swift Hormuz Strait reopening.
- TYM6 currently -2.5 at session low of 111-07, technical support to watch is 110-16, the Apr 2 low. 10Y yld rises to 4.2995%.
- Curves bear flatten: 2s10s -.973 at 49.638, 5s30s -.952 at 97.899.
US: Redistricting Moves To Next Showdown In Florida
Apr-22 16:43
Virginia voters yesterday approved a new Democratic Congressional map that is likely to net the party an additional four seats in November. Focus now shifts to Florida, where the state’s Republicans are eying a new map that could cancel out Democrats’ gains in Virginia by netting the GOP between three and five seats.
- Florida's four-day special legislative session on redistricting is set to begin April 28. But, there is risk for Governor Ron DeSantis (R-FL). While no proposed map has yet been made public, it would likely draw upon recent Republican gains in the state, which have been partially driven by a Latino swing towards the GOP. Political operatives in Florida are warning that the Latino shift may not be durable, with some signs of a move back to Democrats in recent special elections.
- Alex Alvarado, in an analysis for the Civic Data and Research Institute, wrote Republicans could potentially go from four to seven competitive seats, but warned, “Aggressive redistricting strategies aimed at maximizing Republican seat count may paradoxically increase Republican vulnerability to adverse electoral conditions,” per The Hill.
- House Majority Leader Hakeem Jeffries (D-NY) said in a statement yesterday, “This war is not over. Next week, Florida Gov. Ron DeSantis is hauling the Florida legislature back into a special session to redraw maps because Republicans know they are on the verge of an epic defeat in November.”
Figure 1: Status of Redistricting
Source: New York Times
