US Refinery Reveals Status of Different Companies
Several planned and unplanned production outages at different US refineries has been reported recently, with the list released coming from both official and unofficial sources. HollyFrontier (HFC) revealed on February 28 that first quarter crude prices from its Artesia refinery, while performing maintenance of its hydrotreaters. It is also scheduled to perform a turnaround at the alkylation unit of its refinery in El Dorado, Kansas on the first quarter. The refinery produces an average of 135,000 barrels per day. HFC is currently trading at $33.28, some $5 lower than its all-time high.
A spokesman for Chevron Corporation (CVX) bared that the company experienced low feed rates and instability last February 27 from its refinery in Richmond, California in a public document released the following day. Chevron seems to be aiming to surpass its historical resistance of $110, which is also the all-time high of the stock.
Valero Energy Corporation (VLO), meanwhile, reported its planned unit start up and an unexpected trip from its refinery in Benicia, California last February 24, with the occurrences recorded on February 22 and 23 from official statements of the California Emergency Management Agency. Valero closed the last week at $26.02, with $26 acting as a short-term resistance, which now might turn into a support.
Tesoro Corporation (TSO) returned its refinery back into normal operation, churning out around 58,000 barrels per day after a small fire last February 17 effectively shutting down a crude unit. Hovensa LLC mentioned that it shut down its 350,000 barrel per day refinery at St. Croix, converting it into an oil storage terminal instead.