SOURCE: Industrial Info Resources

Industrial Info Resources

April 06, 2010 05:20 ET

Good News for U.S. Refiners: Margins Widen on Forecast Increase in Demand, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - April 6, 2010) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- The long-suffering U.S. Petroleum Refining Industry has some good news: refining margins have widened considerably in recent months. That, plus the normal summer increase in demand, is causing refiners to start dusting off long-delayed capital and maintenance spending plans, according to Chris Paschall, Industrial Info's vice president of research for the Oil & Gas Industry. Recent announcements of permanent refinery closures by Valero Energy Corporation (NYSE:VLO) (San Antonio, Texas), Sunoco (NYSE:SUN) (Philadelphia, Pennsylvania) , and Total SA (NYSE:TOT) (Paris, France) are being offset by refinery expansions that have been completed or announced. Marathon Oil Corporation (NYSE:MRO) (Houston, Texas) recently completed a $3.9 billion expansion of its refinery in Garyville, Louisiana.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=158281, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. For more information, send inquiries to refininggroup@industrialinfo.com or visit us online at www.industrialinfo.com.

Follow us on: Facebook - Twitter - LinkedIn - Vimeo

Contact Information

  • Contact:
    Joe Govreau
    713-783-5147