Tampa:
Molten sulfur contracts at Tampa were valued at $481/lt CFR for second-quarter delivery, a $199/lt increase from $282/lt CFR in the prior period.
Refinery utilization took a step back in the Energy Information Administration’s (EIA) most recent report. Refiners operated at 90.3 percent of capacity for the period ending April 22, a 0.7-point decrease from 91.0 percent in the prior report. Despite the decline, the current rate remained above both the year-ago 85.4 percent and the 85.1 percent five-year average.
Daily crude inputs were reported at an average 15.684 million barrels/d through the week, falling 33,000 barrels/d from 15.717 million barrels/d during the prior week.
U.S. Gulf:
Local news outlets reported an April 23 explosion and fire at the Valero Meraux, La., refinery, resulting in multiple injuries. The cause of the blaze was not immediately known. Genscape reported the refinery as completely offline for planned maintenance since March 30, while a 55,000 barrel/d hydrocracker has been offline since Feb. 20.
Genscape reported the April 22 shutdown of a 220,000 barrel/d crude distillation unit (CDU), an associated 160,000 barrel/d vacuum distillation unit (VDU), and an 80,000 barrel/d coker at the Valero St. Charles, La., refinery. Increased activity was observed from the CDU and VDU on April 26, although both units remained below operable levels.
Shell suffered the shutdown of a 110,000 barrel/d fluidic catalytic cracking unit (FCC) at its Norco, La., facility on April 26. The stoppage was accompanied by elevated flaring.
LyondellBasell Ind. on April 21 announced plans to permanently shutter its 268,000 barrel/d Houston, Texas, refinery before the end of 2023. The closure, which will likely be completed before Dec. 31, 2023, is expected to mark LyondellBasell’s complete withdrawal from the refining business, said interim CEO Ken Lane.
Price ideas on sulfur shipping out of the U.S. Gulf were noted firming to the $470-$480/mt FOB range, players reported. Values were last heard at $460-$480/mt FOB.
Brazil:
Last-done Brazil spot imports continued to be heard in the $510-$530/mt CFR range. Brazil contracts were reported at $480-$485/mt CFR for delivery in the second quarter.
Vancouver:
Vancouver spot values were noted at $410-$415/mt FOB for the week, firming from $405-$415/mt FOB reported previously.
Alberta:
Suncor on April 26 shut a 60,000 barrel/d CDU at the company’s Edmonton, Alta., refinery, according to Genscape. The facility was reported going into a maintenance turnaround in late March.
Sulfur netbacks at Alberta were indicated in the $340-$411/mt FOB range, firming from $335-$411/mt FOB in the prior report.
West Coast:
West Coast solid tons firmed to $410-$415/mt FOB, above the week-ago $405-$415/mt FOB. Second-quarter molten contracts were quoted at $375-$390/lt FOB, lifting from $230-$245/lt FOB in the prior period.
China:
China refinery throughput fell in March due to reduced fuel demand stemming from intensifying COVID lockdowns, according to the country’s National Bureau of Statistics (NBS) and reported by Reuters.
Crude runs for the month were noted at an average 13.8 million barrels/d, down 2.0 percent year-over-year from 14.08 million barrels/d. Utilization for the first quarter was down 1.5 percent from 13.91 million barrels/d logged in 1Q 2021.
Independent “teapot” refinery utilization dropped to 52.15 percent of capacity at the end of March, down from a combined 60.93 percent earlier in the month. Roughly 460,000 barrel/d of capacity was noted going offline at state-operated refineries from March 1-31. Refinery outputs were projected to decline further in April.
China spot import sulfur pricing inched higher to $475-$480/mt CFR, sources reported, up from $470-$475/mt CFR range in the prior week.
ADNOC:
Abu Dhabi National Oil Co. pricing for April was reported at $420/mt FOB Ruwais. May pricing was expected to move higher.
Qatar:
Muntajat reportedly raised solid sulfur offers to $460/mt FOB Ras Laffan for loading in May. Offers were reported at $430/mt FOB in April, a $30/mt difference, and up $127/mt from the $333/mt FOB level offered in March.