Tampa:
The first-quarter Tampa molten contract was valued at $282/lt CFR, up $99/lt from $183/lt CFR in the prior period.
Operable refining capacity slipped lower for the week ending Jan. 14, according to the U.S. Energy Information Administration (EIA). Refineries utilized an average 88.1 percent of nationwide capacity through the period, a 0.3 percentage point decrease from 88.4 percent in the prior week and also trailing the 89.8 percent five-year average, but outpacing the year-ago 82.5 percent rate.
Crude inputs also pushed down for the week, averaging 15.453 million barrels/d, a 120,000 barrel/d decrease from the week-ago 15.573 million barrels/d.
U.S. Gulf:
Marathon successfully restarted the 145,000 barrel/d FCCU3 fluidic catalytic cracking unit (FCC) at the company’s Galveston Bay, Texas, refinery on Jan. 14, Genscape reported.
The unit, offline since Jan. 8, had been noted ramping up since Jan. 11. The plant’s 280,000 barrel/d Pipestill 3A crude section was reportedly shut Jan. 4-10 due to a fire. A 66,000 barrel/d catalytic reforming unit that was noted shutting down on Jan. 17 was reportedly restarted one day later on Jan. 18.
Valero’s Port Arthur, Texas, refinery shut down an 80,000 barrel/d FCC on the morning of Jan. 17. Other monitored units at the facility remained online.
Increased activity levels were observed on Jan. 19 from the 140,000 barrel/d CDU 536 and an associated 96,000 barrel/d vacuum distillation unit (VDU) at the LyondellBasell Ind. refinery in Houston, Texas. The units, reported going offline on Jan. 16, remained below normal operational levels on Jan. 19.
ExxonMobil Corp. was expected to shut its 135,000 barrel/d Pipestill-7 crude distillation for a planned turnaround before the end of the week, Reuters reported. The 560,000 barrel/d refinery has continued to operate at reduced capacity following a Dec. 23 fire in the plant’s 70,000 barrel/d HDS-1 hydrotreater.
Gulf export price ideas were noted firming to a minimum $270-$280/mt FOB range, lifting from $250-$255/mt FOB at last report. Open tenders reportedly floated out of Brazil could push the Gulf market into the $280s/mt FOB in the next round of business, sources said.
Brazil:
The recent Brazil market continued to be quoted in the $327-$340/mt CFR range. Unsettled tenders were expected to give further clarity to the market in the short-term.
Vancouver:
Last-done pricing out of Vancouver firmed to $280/mt FOB in recent trading, sources said, an increase from $255-$260/mt FOB reported previously. Next-done could approach the $300/mt FOB mark, players speculated.
Alberta:
Alberta sulfur netbacks firmed to $167-$210/mt FOB based on rising values at Vancouver. The market was last indicated at $167-$190/mt FOB.
West Coast:
Valero experienced multiple unit shutdowns at its Wilmington, Calif., refinery on the afternoon of Jan. 19, according to Genscape, including two 44,000 barrel/d CDUs, a 46,000 barrel/d VDU, two 15,000 barrel/d coking units, and an 18,000 barrel/d catalytic reformer. A 67,000 barrel/d hydrotreater showed signs of decreased activity at the same time.
West Coast followed Vancouver higher to $280/mt FOB, players reported, rising from $255-$260/mt FOB in the prior report.
Molten sulfur loading from West Coast locations was contracted in the $230-$245/lt FOB range for the first quarter, an increase on $160-$170/lt FOB reported for Q4.
China:
Average refinery throughput at China firmed to a record 14.07 million barrels/d in 2021, according to data released by the country’s National Bureau of Statistics (NBS) and reported by Reuters. The rate reflects a 4.3 percent increase over 2020, and was primarily driven by an almost 11 percent year-over-year increase recorded through first-half 2021. The sizable first-half run overshadowed a 2.1 percent decline in throughput noted for December.
Recent spot import pricing at China continued to be called $315-$320/mt CFR. Sources predicted firmer values in the next round of business.
ADNOC:
Abu Dhabi National Oil Co. offers for January were noted at $300/mt FOB Ruwais, a $35/mt increase from $265/mt FOB in December.
Qatar:
Muntajat sulfur offers were heard at $301/mt FOB Ras Laffan for loading in January. Muntajat was posted at $265/mt FOB in December, a $36/mt FOB difference.
Kuwait:
A fire reported during the week at Kuwait’s 466,000 barrel/d Mina al-Ahmadi refinery killed two and injured 10, five of whom were in critical condition, Gulf News reported. The blaze started at a gas liquefaction unit reported to be offline due planned maintenance. With the fire contained to a unit that was already powered down, output at the refinery was described as unaffected.
January solid sulfur cargoes were reportedly offered at $300/mt FOB, up $33/mt from $267/mt FOB in the prior month.