October 11, 2022 – Bloomberg
(BN) US REFINERY INSIGHTS: California Refinery Work Delayed to 2023
By Barbara Powell and Chunzi Xu
(Bloomberg) -- With a spate of fall maintenance poised to start this month at some of California’s largest oil refineries, at least three plants planning turnarounds took a look at the tightening market and said: nope, not now.
It’s easy to see why: Boosted by maintenance that had already begun in September, the 3-2-1 crack spread, a measure of the profit of turning crude oil into two part gasoline and one...