WTI Crude •10 hours	42.01	-0.23	-0.54%
Brent Crude •10 hours	44.80	-0.16	-0.36%
Natural Gas •10 hours	2.356	+0.174	+7.97%
Mars US •10 hours	43.26	-0.18	-0.41%
Opec Basket •2 days	45.34	+0.26	+0.58%
Urals •1 day	44.70	+0.15	+0.34%
Louisiana Light •2 days	44.06	-0.29	-0.65%

	Louisiana Light • 2 days	44.06	-0.29	-0.65%
	Bonny Light • 1 day	44.05	-0.58	-1.30%
	Mexican Basket • 2 days	40.23	-0.34	-0.84%
	Natural Gas • 10 hours	2.356	+0.174	+7.97%
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Marine •1 day	43.29	-0.69	-1.57%
Murban •1 day	43.83	-0.58	-1.31%
Iran Heavy •1 day	43.84	-0.58	-1.31%
Basra Light •1 day	45.50	-0.18	-0.39%
Saharan Blend •1 day	43.94	-0.69	-1.55%
Bonny Light •1 day	44.05	-0.58	-1.30%

	Bonny Light • 1 day	44.05	-0.58	-1.30%
	Girassol • 1 day	44.98	-0.40	-0.88%
	Opec Basket • 2 days	45.34	+0.26	+0.58%
OPEC Members Monthly
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Canadian Crude Index •10 hours	29.11	-0.28	-0.95%
Western Canadian Select •10 hours	32.34	-0.58	-1.76%
Canadian Condensate •1 day	41.24	-0.43	-1.03%
Premium Synthetic •1 day	42.64	-0.43	-1.00%
Sweet Crude •10 hours	38.29	-0.43	-1.11%
Peace Sour •10 hours	37.24	-0.43	-1.14%

	Peace Sour • 10 hours	37.24	-0.43	-1.14%
	Light Sour Blend • 10 hours	38.44	-0.53	-1.36%
	Syncrude Sweet Premium • 10 hours	39.59	-0.53	-1.32%
	Central Alberta • 10 hours	36.24	-0.98	-2.63%
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Louisiana Light •2 days	44.06	-0.29	-0.65%
Domestic Swt. @ Cushing •1 day	38.50	-0.25	-0.65%
Giddings •1 day	32.25	-0.25	-0.77%
ANS West Coast •3 days	43.91	+0.92	+2.14%
West Texas Sour •1 day	36.69	-0.23	-0.62%
Eagle Ford •1 day	40.64	-0.23	-0.56%

	Eagle Ford • 1 day	40.64	-0.23	-0.56%
	Oklahoma Sweet • 1 day	38.50	-0.25	-0.65%
	Kansas Common • 2 days	32.50	-0.50	-1.52%
	Buena Vista • 2 days	42.07	-5.34	-11.26%
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Charles Kennedy

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Shell Idles Unit At Texas Refinery Due To Demand Crash

By Charles Kennedy - Jul 10, 2020, 9:30 AM CDT

Shell is idling a unit at the Deer Park, Texas, refinery for several months due to low demand for fuels, sources familiar with the refinery’s operations told Reuters.

The 318,000-barrels-per-day refinery operates under a 50-50 joint venture set up in 1993 between Shell and Mexico’s state oil firm Pemex.

The refinery is now idling the sulfur recovery unit (SRU) due to the depressed demand, while currently, the facility operates at around 75 percent of its capacity, according to Reuters’ sources.

According to the latest EIA estimates, average refinery utilization at U.S. refineries stood at 77.5 percent in the week to July 3, with utilization rate slowly creeping up over the past few weeks from the 67.9 percent capacity utilization rate in the first week of May.

Typically, U.S. refinery utilization rates at this time of the year with the driving season are around 95 percent.

Apart from short-term plans for its refineries in the United States, Shell has a longer-term plan to sell several of its wholly owned sites as part of a new downstream strategy.

Earlier this week, a Shell spokesman told Reuters that the supermajor was considering selling its 240,000-bpd refinery in Convent, Louisiana, as part of a broader strategy to reshape its refining portfolio.

Shell is now implementing a new downstream strategy to reshape its refining business towards a smaller, smarter refining portfolio focused on further integration with Shell Trading hubs, Chemicals, and Marketing.

As part of this strategy, Shell sold earlier this year the Martinez Refinery in California to PBF Holding Company for US$1.2 billion.

Shell also announced in March that it started marketing the sale of the Mobile refinery in Alabama and the Puget Sound refinery near Anacortes in Washington as part of its new downstream strategy. At the time, however, Shell said that the U.S. Gulf Coast would remain a key manufacturing hub for the company, along with Rotterdam and Singapore.

By Charles Kennedy for Oilprice.com

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