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Phillips 66 cuts rates at Bayway refinery as gasoline cracks fall

March 25/2020

MOSCOW (MRC) --  Phillips 66 has cut rates at its 258,000 b/d Bayway refinery as gasoline cracks fall, reported S&P Global with reference to a source familiar with refinery operations Monday.

The source said runs had been cut but he was unsure of by how much. A market source said run cuts were between 15% and 20%.

The refinery's 145,0000 b/d gasoline-making fluid catalytic cracking unit just returned from over a month of unplanned maintenance as the gasoline demand slowdown from COVID-19 hit.

A company spokesman wasn't immediately available for comment.

NYMEX front-month RBOB cracks from front-month NYMEX crude averaged USD3.34/b for the week ended March 20. In early Monday trade, they were USD1.35/b.

NYMEX front-month ULSD cracks from front-month NYMEX crude were currently USD19.45/b. For the week ended March 20, they averaged USD18.00/b.

As MRC informed earlier, US-based Phillips 66 remains open to developing another ethane cracker for its Chevron Phillips Chemical (CP Chem) joint venture, the refiner's CEO said in March 2018.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,093,260 tonnes in 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments rose from both domestic producers and foreign suppliers. The estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).
Author:Margaret Volkova
Tags:PP, PE, LLDPE, crude and gaz condensate, homopolymer PP, propylene, HDPE, ethylene, petrochemistry, Chevron Phillips, Phillips 66, Russia, USA.
Category:General News
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