The global bunker fuel market size was valued at $109.6 billion in 2020, and is projected to reach $164.9 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030. According to AAA, the average U.S. retail gasoline price is currently around $4.75 per gallon. From 2010 to 2020, the Pipeline and Hazardous Materials Safety Administration recorded 983 incidents that resulted in 149,000 spilled and unrecovered barrels of oil, five fatalities, 27 injuries, and more than $2.5B in damages. You find original analyses, with business outlooks and developments. C-suite? How Many Refineries Are in Canada? As a result of the war and ensuing sanctions, the discount of Urals crude oil compared to Brent crude oil went from -$1.72 at the start of 2022 all the way to -$30.71 by the end of the year. As a result of several U.S. refinery closures in 2020, U.S. operable atmospheric crude oil distillation capacity, the primary measure of refinery capacity in the United States, dropped 4.5% to a total of 18.1 million barrels per calendar day (b/cd) at the start of 2021. 7 For All Mankind Dojo Bootcut Jeans, Tens of billions of dollars in economic activity would also be lost. Alberta is over 66 million hectares in size. U.S. refiners set for strong start to 2022 as fuel prices surge worldwide. Here is a list of the 5 top oil and gas companies in Alberta: 1. Thats the truth, but how so you might ask? . In recent years, this refinery has relied entirely on oil tankers from the U.S. for its feedstock supply. *Includes only refineries with atmospheric crude oil distillation capacity. In 2020, the world used approximately 88.6 million barrels per day of oil, which amounted to 30.1% of the world's primary energy. The Crown (i.e., Alberta) owns the mineral rights for approximately 81% (53.7 million hectares). Some of these refineries that shut down in 2020 "will become terminals, some of them will become renewable diesel or biofuel plants," Israel added. Natural gas was the only fuel which saw double-digit returns at a 19.9%, with crude oil returning 6.7% and coal at the bottom of the table at -48.3%. 2020 by the numbers Alberta oil producers exit COVID-19 pandemic little scathed, Alberta adds refining capacity, as Newfoundland awaits fate of NARL, Suncor shelves Montreal coker project, in lieu of more barrels at Firebag, Alberta says yes to plastics, but no thanks to partial upgrading and oil refining, Imperial books a profit on its refining business, as upstream operations struggle to break-even, From upgrader to refinery to partial-upgrader: Value Creation hopes to revive Heartland Complex, Husky looks to sell BC refinery and exit the retail business, Alberta's NDP government takes another stab at boosting refining capacity, Discounts on Canadian crude finally start to narrow as Midwest refineries re-open for business, China offers support for new Edmonton refinery, Expanding Bruderheim and adding refining capacity - Cenovus hints at future growth plans, Husky purchases additional Midwest refining capacity and defers Canadian expansion, Chevron finds buyer for BC refinery and fuel distribution, A look at Canada's refining capacity and how we compare to the rest of the world, Vancouver's only refinery goes up for sale, Why Vancouver desperately needs a new oil refinery, Independent refiners benefit from low oil prices, 2019 CAPP CRUDE OIL FORECAST, MARKETS & TRANSPORTATION. conversion to 17,000 barrels per day renewable diesel conversion work projected to be completed by late 2021 or early 2022. The development of new pipelines remains a contentious issue in Canada and the U.S., with the cancellation of the Keystone XL pipeline emblematic of growing anti-pipeline sentiment. What Are These Questions You Should Ask Before Buying A Market Research Report? United States Production: 18,875,000 bpd Number one on this list of the top 10 oil-producing countries is the US. The refinery is being rebuilt with the same configuration and with a processing capacity of 45,000 bbls/d, and is expected to produce a full slate of products, including asphalt, gasoline and . How Much Oil Does Canada Import? Refineries in Quebec are much more reliant on foreign imports than their counterparts in Ontario, despite relying on Western Canadian sources for feedstock more than ever before with the reversal of Line 9 and additional rail capacity built in recent years. PADD IV (Rocky Mountains) and V (West Coast) are also receivers of Canadian oil but arent able to source as large of quantities as other regions of the U.S. due to limited transportation capacity. So, U.S. oil production has fallen under Biden. The broad-based S&P Goldman Sachs Commodity Index (GSCI) surged 52.1% in the first five months of 2022, as supply disruptions and fears across grains, metals, and energy fuels were spurred by Russias invasion of Ukraine. Manitoba and Prince Edward Island as well as the territories did not have any refining capacity.. After 2021 saw an impressive surge in commodity prices as the world reopened post-pandemic, 2022 brought another year of positive returns for the asset class that were defined by high levels of volatility. Most of the refinery closures occurred in western countries, the data showed. While WTI crude oil (North Americas benchmark) increased by 6.7% in 2022, Brent crude oil (Europes benchmark) was up 10.4% as Urals crude oil (Russias benchmark) fell by more than 26.5%. Refineries in New Brunswick, Quebec, Ontario and Newfoundland and Labrador are largely responsible for the tens of billions in foreign oil imports into Canada each year. If refinery demand remains robust at 600,000 bbl/day, and rail exports hold steady at 150,000 bbl/day, then the Trans Mountain . According to analysts, a total of 1,400 jobs were on the line with the potential for economic fallout to spread to other sectors through lost retail sales, income taxes, sales taxes, public revenues and so on and so forth. While Texas and Louisiana have six refineries that process more than 400,000 barrels per day, there are only two other facilities outside of these states with the same kind of throughput, located in Whiting, Indiana (435,000 barrels per day) and Fort McMurray, Alberta (465,000 barrels per day). Forecasts by Type (Topping Oil Refinery, Hydroskimming Oil Refinery, Conversion Oil Refineries, Deep Conversion Refineries), by Processing Unit (Crude Oil Distillation Unit (CDU), Vacuum Distillation Unit (VDU), Diesel Hydrotreating Unit (DHT), Semiregenerative Reforming (SRR), Fluid Catalytic Cracking Unit (FCC), Sulphur Recovery Unit (SRU)), by Investment (CAPEX, OPEX) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios, New York, April 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oil Refinery Market Report 2022-2032" - https://www.reportlinker.com/p06267773/?utm_source=GNW The Oil Refinery Market Report 2022-2032: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. Oil and Gas Industry Employment Trends (Editor's Pick) The latest statistics show that the oil and gas industry in the US employs around 10.3 million people. 4 min read. In 2021, production increased to 69.6 thousand cubic metres (103 m3/d), or 437.7 thousand barrels per day (103 bbl/d), in response to higher oil prices. Show publisher information The U.S. has over 200,000 miles of pipeline for crude oil, refined products, and natural gas liquids. Canada is home to 18 refineries with a total combined refining capacity of nearly 2 million barrels of oil per day, Eastern refineries rely on foreign nations with lower environmental, social, and governance (ESG) scores for some, if not all feedstock supply, Refineries employ tens of thousands of Canadians, generate billions in economic activity and play an integral role in providing us with the petroleum products we rely on every day. Release Date: 6/21/2022: Next Release Date: 6/16/2023 . Canada Canada's 2.06Mbd refinery capacity in 2012 makes it the tenth biggest refiner in the world. Upgrading was used to commercialize the oil sands when it started production in the late 1960s, because there was no other way to transport bitumen to markets. No viable alternatives to replace the lost supply of light oil and natural gas liquids that heat homes and businesses, fuel vehicles and power industry would be immediately available either. The refinery is designed to consist of five modules at a total of 1 million barrels per day. Location : Warehouse: Jebel Ali Free Zone, Dubai, UAE. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________, https://www.reportlinker.com/p06267773/?utm_source=GNW, Oil down 1% on another surprise build in U.S. crude stocks, Dollar rises on safe haven bids; yen regains footing, FOREX-Dollar rises on safe haven bids; yen regains footing, New Zealand Prime Minister Ardern Announces Shock Resignation. This years edition looks back over the past decade of returns between 2013 and 2022, and features an interactive design that allows users to sort returns by various categories including returns, volatility, and other groupings. Canadian refineries provide us with the components needed to make many of the day-to-day products we all rely on. WASHINGTON, Jan 18 (Reuters) - U.S. oil refiners plan twice as many refinery overhauls this spring as usual, aiming to resume maintenance delayed by the pandemic and by the lure of record-high margins, according to data provider IIR Energy and Reuters reporting. The Irving refinery is unique compared with other refineries because it is a family-owned operation with no crude oil production, and a refining and marketing arm. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Manitoba and Prince Edward Island as well as the territories did not have any refining capacity. Ontario's manufacturing sector is an important supplier of goods and services for Canada's oil and natural gas industry. Click on the dots above and navigate to the local maps below for discussion and to learn more about . Come by Chance, Nfld. The Western Petroleum Association lists no recent closures in California. Learn more about the importance of having responsible and reliable supply chains and why it matters for all Canadians! Gasoline contributes for over 40% of demand nationwide, with distillate fuels accounting for nearly a third of sales and heavy fuel oil accounting for barely 8%. The second half of the year saw prices cool as the U.S. continued to release crude oil from its strategic petroleum reserve while Russia and Ukraine established an agreement to enable grain and agricultural exports, quelling fears of extended supply disruptions. These are the 147 refineries. Refinery Report. The global oil and gas market size is estimated to reach $5,870.13 billion in 2021. Since oil, natural gas and oil sands resources are located underground, it helps to reference the land when we talk about mineral ownership. Smartphones, computers, televisions, gasoline, motor vehicles, rubbers, plastics, refrigerators, heart valves, prescriptions, contact lenses, shampoo, toothpaste and hearing aids are just the tip of the iceberg of products derived using oil. This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Canadian Crude Oil Supply & Disposition Map (2016) - CER. Plastics and synthetic rubber are made largely from crude oil constituents. "The Houston Refinery is currently operating as planned," LyondellBasell said in a statement Tuesday to The Daily Caller News Foundation. Visualizing the History of Energy Transitions, Visualizing the Worlds Top 25 Fleets of Combat Tanks, The Benefits of Reducing Methane Emissions, The U.S. and China Account for Half the Worlds Household Wealth. Also in Oil and petroleum products explained In 2019-20, automotive gasoline was imported from Singapore (33 per cent), South Korea (29 per cent), and the United States (9 per cent), while diesel fuel came from Singapore (24 per cent), Japan (19 per cent), and China (16 per cent). It is poured into the ship bunkers to keep the engines running. As of 2021, it had generated a revenue of some 33.7 billion U.S. dollars in its previous fiscal year. Canada is home to 18 refineries: 5 in Alberta, 5 in Ontario, 2 in British Columbia, 2 in Saskatchewan, 2 in Quebec, 1 in New Brunswick, and 1 in Newfoundland and Labrador. ", BP, Oil refinery capacity in Canada from 2004 to 2021 (in 1,000 barrels per day) Statista, https://www.statista.com/statistics/265278/oil-refinery-capacity-in-canada/ (last visited January 19, 2023), Oil refinery capacity in Canada from 2004 to 2021 (in 1,000 barrels per day) [Graph], BP, June 28, 2022. 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