Cenovus restarting Ohio, Wisconsin refineries

Market: Crude oil, Oil products
26/04/23

Calgary-based Cenovus Energy is restarting 190,000 b/d of US refining capacity in the second quarter at two fire-damaged facilities in Ohio and Wisconsin.

Cenovus' 150,800 b/d Toledo, Ohio, refinery started its smaller 30,000 b/d crude unit in April and expects to restart a 120,000 b/d unit in May, the company said today. The Toledo refinery has been offline since a September 2022 explosion killed two workers.

The 38,000 b/d Superior, Wisconsin, refinery restarted operations in mid-March and is expected to return to full operations during the second quarter, Cenovus said. That refinery has been in the process of being rebuilt following a 2018 blast that injured 11 workers.

The Toledo refinery began producing refined products in April, while the Superior refinery is expected to start refined product sales sometime in the second quarter.

Cenovus' refinery outages in the US midcontinent — alongside unit shutdowns at Valero's 86,000 b/d Ardmore, Oklahoma, refinery — widened regional Chicago RBOB gasoline prices this week to their steepest premium over conventional CBOB gasoline since the summer of 2019.

By Nathan Risser

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Houston, 6 May (Argus) — India's military said it launched attacks today against nine targets in Pakistan and Pakistan-occupied Jammu and Kashmir in retaliation for an April terrorist attack that killed dozens. India's ministry of defense said its strikes were a "precise and restrained response" to a 22 April incident near Pahalgam in Kashmir where 26 tourists were killed. They were focused on "terrorist infrastructure sites", the ministry said on the social media site X in a post Tuesday at 4:49pm ET. "Importantly, no Pakistani military facilities were hit, reflecting India's calibrated and non-escalatory approach," the ministry said. The government of Pakistan said on its own X account that five sites had been hit in the attacks. "Pakistan has every right to respond forcefully to this act of war imposed by India, and a forceful response is being given," the Pakistan government wrote. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Trump unlikely to lift tariffs on Canada

06/05/25

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06/05/25

Trump unlikely to lift tariffs on Canada

Washington, 6 May (Argus) — President Donald Trump suggested today he would not lift tariffs on imports from Canada and told Canadian prime minister Mark Carney that the US-Canada-Mexico (USMCA) free trade agreement needs to be renegotiated. Trump, who hosted Carney at the White House today, told reporters that there was nothing Canada's leader could tell him to change his mind on stiff tariffs he imposed on Canadian steel, aluminum, cars and auto parts. "It's just the way it is," Trump said. While Trump has altered his tariff levels repeatedly, his administration has imposed a 25pc tariff on Canada-sourced steel and aluminum, and a 25pc tariff on some cars and autoparts imported from Canada. Any product that qualifies for duty-free treatment under the USMCA is exempt from tariffs Trump imposed. The 10pc tariff Trump imposed on Canadian crude and other energy imports only lasted from 4-7 March, causing turmoil in North American energy markets. But even the remaining tariffs are a significant hindrance for the integrated North American auto industry, executives in Canada and the US have said. Trump today described the USMCA, which he negotiated during his first administration, as merely a "transitional deal" and suggested that it could be either terminated or renegotiated completely. The USMCA includes a provision calling for it to be reviewed by all three countries in 2026. The existing free trade agreement is "a basis for broader negotiations," Carney said, adding that "some things about it are going to have to change." Carney made his first trip to Washington just a week after winning the 28 April parliamentary election, following a campaign centered around his opposition to Trump's policies. Trump and Carney offered polite compliments to each other, but there was little visible chemistry between the two men. Trump doubled down on his suggestion that Canada could become the 51st US state, prompting Carney to tell him that "as you know from real estate, there are some places that are never for sale." "Having met with the owners of Canada over the course of the campaign in the last several months, it's not for sale," Carney said. "Never say never", Trump retorted. Trump also repeated his past claims that "we don't do much business with Canada. From our standpoint, they do a lot of business with us." "We are the largest client of the United States," said Carney. "We have a tremendous auto sector between the two of us." By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Trump to end military campaign in Yemen: Update

06/05/25

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06/05/25

Trump to end military campaign in Yemen: Update

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US onshore crude output likely peaked: Diamondback

06/05/25

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06/05/25

US onshore crude output likely peaked: Diamondback

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06/05/25

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06/05/25

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