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HollyFrontier to run refineries at up to 81% of capacity in third quarter

August 07/2020

MOSCOW (MRC) -- Independent US refiner HollyFrontier plans for its five refineries to run up to 81% of their combined throughput of 457,000 bpd  in the third quarter of 2020, reported Reuters with reference to Timothy Go, executive vice president and chief operating officer.

The refineries combined crude oil throughput will range between 340,000 and 370,000 bpd in the third quarter, Go said on a conference call with Wall Street analysts to discuss the companys second-quarter results.

As MRC informed earlier, CVR Refining and HollyFrontier Corp have cut their workforce in late June, as demand falls due to the ongoing coronavirus pandemic. Thus, CVR Refining laid off approximately 50 salaried employees and HollyFrontier cut at least 12 jobsd. HollyFrontier previously said it would lay off about 130 workers at its Cheyenne, Wyoming, refinery as it converts to a renewable diesel facility.

We remind that Valero Energy Corps Memphis, Tennessee, crude oil refinery is operating at two-thirds of its 180,000 barrel-per-day (bpd) capacity because of low demand in the COVID-19 pandemic. The Memphis refinery cut production by as much as 50% in early April and has been raising production gradually since then.

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

According to MRC's DataScope report, PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000 tonnes. High density polyethylene (HDPE) accounted for the main decrease in imports. At the same time, PP imports into Russia rose in the first six months of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, homopolymer PP, propylene, HDPE, ethylene, petrochemistry, Valero, Russia, USA.
Category:General News
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