[NEW YORK] US refiners had a plan for 2020: use their complex operations to maximise profits by making products that would comply with new international laws capping sulfur content in shipping fuels.
The move was expected to make heavy crude oil cheap as most refiners worldwide shifted to lighter crudes that yield compliant lower-sulfur fuels - and benefit complex US refiners that possess greater capability to break down that heavy crude into high-margin products.Instead, global heavy crude supplies have become scarce due to sanctions on Venezuela, one of the world's biggest heavy producers, pipeline bottlenecks in Canada and OPEC output cuts.
US refiners rely on cokers to break down residual oils into other refined products, including gasoil and naphtha. Refineries without that capability typically process more light crude, produced in abundance by the United States, versus heavy crude, which US refiners have to import.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
He's back: Jay Chou is bringing his new world tour to Singapore in 2020The Mandopop superstar will be the first Asian star to stage a two-night event at the National Stadium. His 2018 concert here sold out in a few hours. Jetan230 Correction, it’s The Invincible Concert not ‘Invisible’.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Motor racing: Formula Two to prepare drivers for F1 with 2020 tyre switchFormula Two, the feeder series for Formula One, will switch to lower-profile tyres and 18-inch wheels next year to prepare young drivers for grand ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Jay Chou performing for two nights at National Stadium in January 2020Jay Chou is the first Asian artist to put up two shows back-to-back at this venue.
Source: YahooSG - 🏆 3. / 71 Read more »
In friendly Florida, Trump dreams of victory in 2020'We had some great times here you remember? Before that great election, that great, great election, '16 right. And now we have '20 coming up!'
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Trump says top 2020 rivals are 'SleepyCreepy' Biden, SandersWASHINGTON (AFP) - US President Donald Trump branded his chief Democratic rival 'SleepyCreepy' Joe Biden on Friday (May 10), framing the 2020 nominations race as a battle between the former vice president and 'Crazy Bernie' Sanders.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Democrat Warren confronts 2020 electability question head-on in OhioAt a veterans hall in the mostly white, working-class town of Chillicothe, Ohio, U.S. Senator Elizabeth Warren spoke to about 200 people on Friday ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Motor racing - Interlagos has contract for 2020, says F1 boss BratchesBARCELONA: Formula One is keen to race in Rio de Janeiro but the current contract with Sao Paulo also covers next year, commercial managing ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Nancy Pelosi Worries Donald Trump Won't Give Up Power If He Loses Reelection In 2020Nancy Pelosi worries Donald Trump won't give up power if he loses reelection in 2020.
Source: YahooSG - 🏆 3. / 71 Read more »
Toyota sees smaller-than-expected profit rise in 2019-2020TOKYO: Toyota Motor forecast on Wednesday (May 8) a 3.3 per cent rise in operating profit for the current year due to cost reduction measures and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
First wave of Tokyo 2020 Olympics tickets up for grabsTOKYO: The first tickets for the Tokyo 2020 Olympics went on sale on Thursday (May 9), with Japanese residents able to enter a lottery to watch ... U just make sure I know when NDP tickets are out. I want to see my taxes combust in the air as fireworks. More important. Thanks.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Brazil president says Formula One race to be held in Rio de Janeiro in 2020Brazilian President Jair bolsonaro told reporters on Wednesday that the Formula One race in Brazil will be held in Rio de Janeiro from 2020 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »