European refiners cut runs in HI, gasoline and jet-fuel sales still weak.

摘要

Because of the collapse in refined-product demand caused by the coronavirus pandemic, a number of European refiners reported massive cuts to utilization rates during the first six months of the jeat. Eni's domestic refineries only processed 7.21 MM mt of crude in HI, which was a 29% year-on-year drop, as die refiner's overall utilization rate, including its facilities outside of Italy, averaged 67%, compared to 87% in HI 2019. Austria's OMV ran its refineries at 86% utilization in HI, compared to 97% during the first six months of 2019. Total processed 1.347MM b/d in HI, which was a 22% year-on-year drop. The refiner's domestic utilization rates fell 56% on the year to 230K b/d due to its 99K-b/d Grandpuits refinery remaining offline (and possibly being converted into a bio-plastics plant) and an extended shutdown at its 119K-b/d Feyzin refinery. Swiss-based refiner Gunvor is considering mothballing its 115K-b/d Antwerp refinery, and its 88K-b/d Rotterdam refinery will undergo maintenance until Oct. Portuguese refiner Galp has decided to bring forward some of its maintenance activities that were initially scheduled for H2, such as projects at its 220K-b/d Sines and 110K-b/d Matosinhos refineries. Russian Lukoil's European refineries reportedly lowered throughput by 11.7% on the year to 10.395MM mt (419K b/d). In Romania, Rompetrol reported processing 2.116MM mt (85K b/d) of crude, which was a 32.3% year-on-year drop, while Vega processed 154K mt (6.2K b/d) of oil, which was a 23.8% year-on-year drop.