Crude Processing

Phillips 66 is beginning the process of shutting down its Los Angeles-area refinery, with units scheduled to be idled in phases through the fourth quarter of 2025 until the facility is permanently offline by year-end.

China's refinery throughput surged to a nearly two-year high in Jun. 2025, driven by improved fuel margins and the completion of seasonal maintenance.

PetroChina's decision to permanently shut down its largest northern refinery, Dalian Petrochemical, by Jun. 30 marks a significant shift in China's crude procurement landscape.

The ambitious energy transition of the US state of California is facing significant hurdles as its oil refining sector contracts under the weight of stringent regulations and high costs, while its landmark electric vehicle (EV) mandate encounters strong federal opposition.

In 2024, US refineries achieved a record-high proportion of jet fuel production, driven by increased demand compared to other transportation fuels.

Europe is set to experience further closures in its refining sector in 2025, with nearly 400K  b/d capacity—about 3% of the region’s total—scheduled to shut down permanently

Chevron USA. Inc. has successfully completed a major retrofit of its refinery in Pasadena, Texas, aimed at significantly improving its refining capacity and product flexibility.

Phillips 66’s decision to close its Los Angeles Refinery by the end of 2025 marks a significant shift in the US state of California’s refining sector, a trend exacerbated by weak refining margins, rising compliance costs, and increasingly stringent environmental regulations

On Oct. 16, 2024, Phillips 66 revealed plans to close its Los Angeles-area refinery, P66-LA, by the end of 2025.

The International Energy Agency (IEA) has revised its 2024 global crude run forecasts, lowering estimates by 180K b/d from 83MM b/d  to 82.8MM b/d.