Shell Plc has shut a unit at its 404,000 b/d Pernis refinery in Rotterdam, Europe's biggest facility, according to a media report and market source.

A diesel-producing hydrogen conversion unit at the Pernis refinery was shut on Tuesday due to a gas leak, a source told OPIS. The capacity of the unit is about 25,000 b/d, according to the source.

Bloomberg on Wednesday first reported that the unit had been taken offline. It said that while the refinery will continue to operate, closing the hydrogen conversion unit will complicate production of refined oil products, particularly diesel and jet fuel.

Shell did not reply to an OPIS request seeking comment.

The loss of access to Russian crude and unusually high temperatures this summer curbed output of oil products from European refineries, the International Energy Agency said in August.

Refinery throughput across OECD Europe nations fell in June by 530,000 b/d year to year. For the third quarter, IEA forecast refinery throughput would average 600,000 b/d less than in the same period of 2022.

The spot ULSD barge market loading in the northwest European oil refining hub of Amsterdam, Rotterdam and Antwerp has seen a surge in trading liquidity this week, according to broker reports.

Market participants on Tuesday traded 48 clips in the afternoon market-on-close window, or 133,350 metric tons, mostly for front-end delivery. This is in addition to 20 trades, or 48,500 mt, reported by brokers on Monday. Both amounts are unusually high. Brokers had reported just 10 ULSD barge trades, or 23,300 mt, for all of the previous week.

The spike in trading activity this week has coincided with a short-term correction in ULSD prices and cracks, which may have attracted more buyers to the market.


This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.


--Reporting by Rob Sheridan, and Jaime Llinares Taboada, ; Editing by Jeff Barber,


(END) Dow Jones Newswires

September 20, 2023 12:32 ET (16:32 GMT)

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