World oil giants — Chevron Corp American. and British-Dutch Royal Dutch Shell Plc put up for auction a small oil refinery, trying to cut low-profit assets in the background of the constraints resulting from the growth of prices on black gold.
Chevron, the second-largest oil company, is looking for buyers for canadian oil refinery in Burnaby, according to Reuters.
In turn, the Shell, according to sources, the Agency intends to sell the refinery in Martinez, California.
These companies, and ExxonMobil Corp. and Britain’s BP Plc has reduced its production capacity in the U.S. more than a million barrels per day over the past three years by selling assets, according to consulting company Stratas Advisors, based in Houston.
Together with the 5 international oil giants still enough capacity in the United States for the production of about 4.7 million barrels per day.
Profit from refining previously declined from the highs observed in 2015, and there are fears that the recovery in oil prices after two years of falling will hit oil refineries, as the cost of the black gold rises and the price of gasoline does not have time for her. Selling plants, while the margin is relatively high, will allow the giants to avoid losses for balance.
