US refinement capacity decreases amid an uncertainty question question question | Company Business News

(Bloomberg) – The work ability of the US refineries became lower in 2024 than an uncertain prospect for gasoline and diesel, the fuel makers urged to retreat to a period of expansion. America’s refinement fleet – the largest world – contracted with 43,000 barrels per day in 2024, shrinks to 18.3 million barrels per day of operational capacity, according to a report on energy information administration that gives a momentum of the industry each year. The US refinement capacity has swung between expansion and contraction over the past five years. The pandemic-powered decline in the demand in 2020 introduced a wave of US refinery closures that drew capacity under 18 million barrels per day for the first time since 2014 nationwide. Since then, ExxonMobil Corp., Valero Energy Corp, Marathon Petroleum and Citgo have undertaken major expansion projects that have increased the capacity of the pre-and-PP panemic levels. Now fuel manufacturing is back in decline. Since January, Lyondell Basell Industries has stopped NV’s 264,000 Barrel-a-Day Houston refinery permanently, and Phillips 66 closes its Los Angeles plant of 139,000 Los Angeles at the end of this year. Valero is ready to close its Benicia refinery of 145,000 Benicia in the Bay area in California in early 2026, and a decades-long tendency of smaller, logistically and financially challenged refineries that pull out the plug. The two refinery closures in California can push US fuel ability to pandemic lows of about 17.8 million barrels per day. While smaller refineries closed, Mega plants on the wave coast increased the capacity, which made less complicated facilities uncompetitive. Motiva’s refinery in Port Arthur, Texas, grew into an operating capacity of 641,000 barrels per day in 2024 and blew it over Marathon’s nearby 631,000-Barrel Galveston Bay plant to become the largest in the country, according to the OIA annual report. Saudi Aramco possession motiva still pushes the capacity higher at the Texas plant, the only refinery it owns in the US, and in December processed as much as 651,000 barrels of oil per day. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP