ARA barge market recap: mixed signals and steady freight in a logistically challenging week

By Lars van Wageningen, Research & Consultancy Manager

The past week in the ARA (Amsterdam-Rotterdam-Antwerp) barge freight market has been marked by a mix of strategic calm and logistical noise. From May 7 to May 12, Insights Global’s freight reports painted a picture of a market negotiating the dual pressures of terminal delays and diverging product demand, while still maintaining a relatively stable pricing environment.


1. Freight Stability Amid Fluctuating Fundamentals

Across the five days of reporting, ARA freight rates remained remarkably steady. While there were day-to-day rate adjustments on specific routes and products, the overall market tone was one of resilience rather than volatility.

  • Middle distillates experienced minor fluctuations, reflecting shifts in operational execution and barge availability.

  • Light ends, particularly gasoline and naphtha, showed stronger transactional consistency and kept rates buoyant.

Takeaway: The ARA market displayed maturity in its pricing behavior, reacting moderately to operational stressors without succumbing to major swings.


2. Light Ends Dominate Market Activity

The strongest momentum was observed in the light ends segment, with consistent volumes and transactional depth across routes:

  • From midweek onward, light ends consistently outpaced middle distillates in total traded volumes.

  • Finished gasoline and gasoline component shipments formed the backbone of this trend, showing robust demand as the summer season approached.

This demand differential also narrowed the historical spread between light ends and middle distillate freight rates.

Takeaway: ARA barge operators saw more action in gasoline logistics, highlighting the seasonal shift and refinery output alignment.


3. Persistent Logistical Bottlenecks at Terminals

A recurring theme throughout the week was the influence of terminal delays—particularly in Antwerp and Amsterdam—on freight negotiations and barge deployment.

  • Barge operators reported growing difficulties in planning and execution, with extended waiting times hampering day-to-day flexibility.

  • These delays added an invisible layer of cost and complexity, often limiting the number of new fixtures that could be concluded on any given day.

Takeaway: Infrastructure challenges are not only slowing operations but also muting market responsiveness. Freight deals were often shaped more by availability than by appetite.


4. Supply Constraints Cushion Against Demand Dip

Interestingly, while some freighters reported lower incoming requests, this was counterbalanced by limited availability of vessels ready for prompt loading. The result was a functional equilibrium that helped:

  • Maintain upward momentum in middle distillate rates on certain days (notably May 8).

  • Keep light ends rates stable despite an increase in cargo availability and fixture activity.

Takeaway: Even in the face of reduced demand, tight supply dynamics kept rates from softening significantly—underscoring the importance of barge positioning in short-sea logistics.


5. Weekends Bring Volume, Not Volatility

The week closed with a healthy volume of fixtures, particularly in the light ends category. Despite this, the market did not see large price adjustments—indicating that supply and demand are reasonably well-aligned for now.

  • Friday (May 9) and Monday (May 12) were both busy in terms of concluded deals, but neither saw dramatic shifts in price levels.

  • Freight rates on high-traffic corridors like Rotterdam–Antwerp and Ghent–Amsterdam held firm.

Takeaway: The freight market may be bracing for change, but for now, it’s moving with caution and control.


Conclusion: Operational Efficiency Over Opportunism

This past week in the ARA barge market showcased a logistics-driven equilibrium, where freight rates served more as a reflection of operational constraints than speculative price swings. For industry professionals, the key signals to monitor going forward will be:

  • Terminal throughput normalization, which could unlock more flexible freight supply.

  • Seasonal shifts in product demand, especially for motor fuels.

  • How operators balance vessel availability with reliability concerns.

In a climate where logistical execution increasingly determines commercial outcomes, staying close to the market pulse through platforms like Insights Global’s Barge INSIGHTS will be critical for forward planning.

Rhine freight market outlook: A week of fluctuating waters and stable strategies

By Lars van Wageningen, Research & Consultancy Manager

Over the past week, the Rhine barge freight market has demonstrated a delicate balance between operational resilience and environmental volatility. Insights Global’s daily freight reports from May 7 to May 12 reveal a market where water levels, logistical challenges, and booking behaviors shaped a nuanced trading environment. Below, we explore the main developments and what they signal for barge operators and traders moving forward.


1. Market Stability Masking Tactical Adjustments

At a glance, rates remained relatively stable throughout the week for most destinations, with only marginal day-to-day adjustments. However, a deeper look shows that this stability is underpinned by a series of tactical decisions by both importers and barge operators.

  • Early in the week, lower freight rates—particularly driven by a short-lived wave of higher water levels at Maxau—encouraged opportunistic bookings.

  • Later in the week, negotiations often stalled due to uncertainty about draft limitations as water levels began to recede again, affecting loaded volumes and contributing to more cautious planning.

Takeaway: The apparent calm belies a market where participants are carefully timing their engagements based on short-term hydrological shifts and terminal availability.


2. Water Levels and Freight Sensitivities

Water levels along key measuring stations like Kaub and Maxau remained a central concern. After a brief increase, forecasts indicated a consistent downward trend by week’s end, particularly at Kaub, where the draft is a critical factor for larger barges.

  • Water draft limitations directly impacted loadable volumes, which in turn influenced freight rates due to reduced economies of scale.

  • The variability in draft conditions contributed to a widening of rate differentials, especially for long-haul routes into Switzerland, where rate adjustments became more pronounced.

Takeaway: In a river system like the Rhine, where operational efficiency hinges on water depth, even minor fluctuations can result in noticeable shifts in freight economics.


3. Terminal Delays and Logistical Constraints

While ARA port congestion showed some signs of easing at the beginning of the week, significant waiting times persisted in key hubs like Amsterdam and Seatank Antwerp. As the weekend approached, new bottlenecks were reported in Bottrop and Gelsenkirchen, further complicating scheduling.

  • These delays continued to disrupt vessel turnaround and limited the availability of tonnage for fresh bookings.

  • The resulting uncertainty discouraged some participants from engaging in new freight deals, even when rates appeared attractive.

Takeaway: Port performance remains a critical external factor affecting freight market fluidity, and its ripple effect on pricing and availability should not be underestimated.


4. Basel: The Outlier Destination

Among all destinations, Basel stood out for its notable rate movements. Midweek saw a moderate correction, but by Monday, deals for Basel exhibited higher average values again, likely in response to reduced loading capacity caused by the river’s decreasing depth.

  • The week closed with Basel as the only destination with a marked uptick in rates, contrasting with the general trend of flat or softened pricing elsewhere.

Takeaway: Basel continues to act as a barometer for upstream logistical strain, often amplifying the effects of hydrological and operational constraints seen elsewhere on the Rhine.


5. A Week Defined by Selective Activity

With only a handful of deals concluded daily—ranging from four to eight across the week—the overall market was relatively quiet in transactional terms, but not inactive in strategic positioning.

  • Buyers focused on securing volumes ahead of the summer season, while barge owners looked for windows of improved loading efficiency.

  • Freight rates for gasoil and gasoline showed some directional divergence depending on product-specific demand and route characteristics.

Takeaway: Despite low transaction volumes, the week reflected a market in motion—quietly reshaping itself under the pressures of seasonality, river conditions, and infrastructure reliability.


Looking Ahead

As we move deeper into May, attention will remain firmly fixed on Rhine water levels and terminal throughput performance. For barging professionals, the key lies in maintaining flexibility—both in routing and in scheduling—to navigate this complex matrix of variables. In this dynamic environment, being well-informed is not just advantageous—it’s essential. As always, Insights Global continues to monitor and interpret these movements to support smarter, faster, and more resilient decisions in liquid bulk logistics.

European refining margins lagging, more closures expected?

As of April 2025, Europe’s refining industry is navigating a landscape of further diminishing margins, influenced by a combination of economic pressures, policy shifts, and global competition. This downturn is prompting significant strategic adjustments within the sector, which is already coping with various closures seen in the past months and more to come for 2025 and beyond.

Current State of European Refining Margins

In 2024, European refining margins experienced a notable decline. Northwest Europe’s ultra-low sulphur diesel margins, for instance, decreased from $42 per barrel in 2022 to $29.71 per barrel in 2023. Its cracking margins remained on low levels during 2023 and 2024 which means the region could no longer remain competitive compared to other key regions. This downward trend is also attributed to factors such as reduced local European demand due to the energy transition and electrification, increasing competition from new refineries worldwide, and elevated operating costs stemming from stricter emissions regulations. ​

Potential Consequences

The sustained pressure on margins is leading to significant restructuring. For example, ExxonMobil announced plans to downsize operations at its Port-Jerome complex in France while BP is scaling back its Gelsenkirchen refinery in Germany by a third (and open for interested buyers to acquire the facility). Ineos will shut down its Grangemouth refining this spring and Shell has turned off the crude distillation units at its Rheinland Wesseling site in March, which could drop total refining capacity in the Northwest European region by 650.000 bpd. This could weaken the European competitiveness of the region and increases its reliance on imports from other regions, increasing vulnerability to and volatility of prices, product availability and importance of the supply chain.

The introduction of tariffs and changing trade policies are reshaping global oil flows. European refiners may find opportunities in markets previously dominated by U.S. exports, but also face heightened competition from new refineries in regions like West Africa (Nigeria, Angola) and Latin America (Mexico, Argentina). This is already leading to a downturn in gasoline export out of key hubs in ARA and a steady flow of (more cost-effective) jet fuel from Nigeria’s Dangote refinery to the US Gulf Coast.

European refiners are increasingly investing in renewable energy projects to align with the energy transition. However, falling profits are testing the viability of these green initiatives, with various projects facing delays or cancellations due to economic constraints. ​The latest examples include postponing SAF production by BP in its Spanish refinery and various (green) hydrogen initiatives in the region.

In conclusion, Europe’s refining sector is at a pivotal juncture, contending with declining margins and the obligation to adapt to a rapidly evolving global energy landscape.  Strategic decisions made now will be crucial in determining the future resilience and competitiveness of the industry.

Upcoming Webinar (May 27th, 2025)

Barge volumes, prices, & disruption: navigating the impact of NW Europe refinery closures

Refinery closures in North-West Europe are triggering significant shifts across the liquid bulk supply chain. With capacity reductions and structural changes taking place, market participants are facing growing uncertainty in product availability, trade flows, and barge utilization.

Are you prepared for what lies ahead?

  • When: 27 May 2025, 14:30 CET
  • Where: Online (link provided upon registration)

    Clean ammonia market outlook: risks, realities, and infrastructure opportunities

    By Patrick Kulsen, CEO, Insights Global

    As the global push for decarbonization accelerates, clean ammonia has emerged as one of the most promising hydrogen carriers. Yet, beneath the optimism lies a complex and uneven market landscape—especially for those in the tank terminal industry.

    During the Clean Ammonia Storage Conference in March 2025, we shared critical insights on the current state and future of clean ammonia, with a focus on storage dynamics. Here’s what tank terminal professionals need to know now.

    Clean ammonia today: trade is decreasing

    Ammonia is primarily used in fertilizer production—but clean ammonia (produced with renewable energy or low-carbon hydrogen) is increasingly eyed for applications in power generation, shipping fuel, and as a key enabler of the hydrogen economy.

    Global demand has remained stable, with significant import needs across Asia, North-Africa, Europe, and North America. Independent storage infrastructure is still small compared to global trade of 15Mton. Our research shows that current global ammonia tank terminal capacity sits at approximately 1.35 million cbm, with Europe holding the largest share.

    Trade flows are evolving—but terminal readiness is uneven

    Ammonia trade flows remain concentrated, with major exports from countries like Trinidad and Tobago, Saudi Arabia, and Indonesia. Imports are dominated by India, Morocco, and the U.S.. This concerns mainly gray ammonia, produced from fossil fuels. The big promise is the development of green ammonia supply chains as part of the energy transition.

    However, many planned terminal projects, aimed at facilitating these green ammonia flows, remain in early development stages—often lacking final investment decisions (FIDs), clear start dates, or capacity details. According to plans a wave of projects will come online between 2026 and 2030, adding at least 0.9 million cbm of capacity, particularly in Europe.

    Market headwinds: Project realization rates are low

    Despite aggressive decarbonization goals, less than 10% of green ammonia and hydrogen projects have been realized so far. Why? High production costs, limited offtake commitments, and an overall lack of willingness to pay premium prices.

    Adding to the challenging investment environment is the recently installed Trump administration which is reshuffling priorities away from the energy transition to “drill-baby-drill”.

    For tank terminal stakeholders, this translates into uncertainty—but also opportunity. The market may be slower than hoped or go in other directions, but those who anticipate infrastructure needs now stand to benefit most when momentum returns.

    What’s next for tank terminals?

    Terminal operators should carefully monitor developments in:

    • Green corridors for maritime shipping

    • Industrial hubs planning hydrogen/ammonia integration

    • Emerging regulations supporting clean fuel mandates

    Storage players with flexibility and the ability to scale quickly will be best positioned to support the evolving ammonia supply chain.

    Get the tools to stay ahead

    At TankTerminals.com, we track ammonia terminal projects worldwide—planned, operational, and everything in between. Our platform gives professionals a data-driven edge in planning, benchmarking, and opportunity spotting.

    👉 Start your free trial today and see how our research tool can support your ammonia market strategy.

    The outlook for European liquid bulk logistics sector in 2025

    The European liquid bulk sector, consisting of tank storage, tanker vessel and barging transport logistics, is dependent on global trade and is therefore influenced by geopolitics. Looking at current developments we conclude that there is a shift from globalization to global competition. The three major economic blocks, the US, China and the EU, are increasingly competing for economic power. In this race the EU is falling behind. The reason for this lag in economic development can be attributed to high energy prices, a strategic dependence on imports of critical raw materials, a poor track record of breeding high value innovative technology companies, and complicated, slow and indecisive decision making processes in the EU Council.

    The report on EU competitiveness made by Draghi pinpoints three transformations that are needed to increase competitiveness: accelerate innovation and find new growth engines, bring down high energy prices while continuing to decarbonise, and cope with instable geopolitics by reducing dependencies and increasing defence investments. For Energy Intensive Industries and the transport sectors in Europe the report formulates a number measures along this line. Generally speaking the measures aimed at combatting high energy prices, aimed at supporting the automotive sector and aimed at spurring investments in chemical business and hydrogen are positive for tank storage and liquid bulk transport companies as business in chemical industries is supported. Hopefully these measures will be a priority for the European Commission and the European Council in the months and years to come. Much is at stake: our wealth, independence and way-of-life are under threat!

    Short term market fundamentals are less favourable for tank storage and tanker transport markets. Oil prices are less volatile and the market is in backwardation. Natural gas prices are about four times as high compared to US markets leading to high marginal cost levels compared to other major competing regions. Petroleum refining and steam cracking margins are also depressed. The bearish market sentiment has translated into a lot of announced closures in Europe. Refineries and chemical plants across the continent are closing operations in a push to rationalize capacity. The effect on business is negative as this means less transport volumes and thus less need for tank storage capacity and shipping capacity. Our research has already confirmed decreasing tank storage rates and freight rates compared to previous periods. 2025 is set to become a difficult year for the liquid bulk supply chains and logistical operators in Europe.

    To download the full slide pack please fill in the form below.

    Insights Global / PJK International successfully completed 2nd independent assurance review of ARA CPP and Rhine Barge Freight Rate benchmark prices

    Insights Global / PJK International has successfully concluded its second external assurance review of its benchmark prices for ARA CPP and Rhine Barge Freight Rates.

    The independent review, conducted by an external auditing firm, assessed the policies and processes used by Insights Global / PJK International to evaluate oil product transportation costs via inland barges in Northwest Europe.

    These policies and processes were developed in alignment with the Principles for Price Reporting Agencies (PRAs) established by the International Organization of Securities Commissions (IOSCO) in October 2012.

    Recognized by the G20 in November 2012, the IOSCO PRA Principles have been incorporated into the EU Benchmark Regulation (BMR).

    These principles set comprehensive standards for governance, quality, integrity, control, and conflict management for commodity benchmark price assessments.

    Compliance with these standards requires annual external audits. Insights Global’s price assessment methodologies and policies are available here.

    The audit report can be provided upon request.

    Patrick Kulsen’s exclusive interview with Inspenet: a deep dive into Insights Global’s market expansion

    We are excited to announce that Insights Global is featured in an exclusive interview with Inspenet. This interview provides an in-depth look at our strategic initiatives, market insights, and our plans for expanding our presence in the U.S. market. Learn from our experts as they discuss the future of the liquid bulk and terminal industry, and how our advanced data-driven solutions are shaping the landscape. Don’t miss this opportunity to gain valuable knowledge and stay ahead in the industry.

    In this interview, Patrick, our Managing Director, delves into the evolution of our company from its European origins to becoming a global leader. He shares insights on our commitment to innovation, the challenges and opportunities in the liquid bulk sector, and our vision for the future. This candid conversation is a must-watch for anyone looking to understand the dynamics of the industry and how we are positioning ourselves to provide unparalleled value to our clients worldwide.

    Watch the interview here.

    US Seeks to Buy Up to 3 Mln Barrels for Oil Reserve for Jan Delivery

    The United States is seeking to buy up to three million barrels of oil for delivery in January 2024 to replenish the country’s strategic petroleum reserve, the Department of Energy said on Monday.

    “This is the second solicitation for January 2024 delivery as DOE aims to purchase oil when it can purchase at a good deal for taxpayers,” it said in a statement. Last month the administration said it hoped to buy 6 million barrels of crude oil for delivery in December and January.

    Reuters, David Ljunggren, November 6, 2023

    11 Best Oil Refinery Stocks To Buy

    In this piece, we will take a look at the 11 best oil refinery stocks to buy. If you want to skip our overview of the dynamics within the oil industry and recent developments, then take a look at the 5 Best Oil Refinery Stocks To Buy.

    The modern day oil industry is responsible for fueling global transportation, industrial, and energy networks. Whether it’s electricity for large scale cloud computing data centers, cargo ships, aircraft, or power generation plants, humanity’s reliance on fossil fuels is responsible for both economic growth and pollution.

    Within the oil sector, the same and different companies are present at key stages of the supply chain. After crude oil is extracted from the ground, it must be processed to bring it up to standard for consumption by machinery. Oil extracted from the ground is transformed into a variety of different end products, such as gasoline, kerosene, diesel, and heavy fuel oil. This transformation occurs in an oil refinery, which is one of several refineries that are responsible for converting cruder raw inputs into high grade products. Some examples of refineries include sugar and metal refineries.

    Oil refineries are operated by large oil giants such as Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) and smaller companies with isolated business operations. Additionally, the heavy capital expenditure required to set up refineries often requires government involvement or financing of mega oil refining projects. For instance, Indian billionaire Mukesh Ambani and his petrochemical, retail, media, and telecommunications behemoth Reliance Industries Limited (NSE:RELIANCE.NS)’s oil refinery in the Indian state of Gujarat was partly built by a $500 million loan guarantee by the official credit export agency of the United States of America, the Export-Import Bank of the United States. Similarly, the Indian government has allocated $3.6 billion for oil refineries as part of its 23/24 budget.

    These massive capital costs create high barriers to entry in the oil refinery business, leading to the being dominated by a few private sector firms or large state owned enterprises. For instance, consider the data that we gathered as part of the coverage of the Top 20 Largest Refineries In The World. While Reliance’s Gujarat oil refinery is the largest in the world and privately owned to boot, the largest oil refineries in Venezuela, the United Arab Emirates, Kuwait, Saudi Arabia, and China are owned by state enterprises. However, in South Korea, the U.S., and Taiwan, oil is refined by private companies which include some of the largest oil companies in the world.

    Zooming out to take a broader look at the global oil refining industry, it is naturally one of the biggest in the world. According to data from Skyquest Technology, the oil refining industry was worth $1.49 trillion in 2021 and grew to $1.5 trillion by the end of 2022. From then until 2030, it can grow at a compounded annual growth rate (CAGR) of 5% to be worth an estimated $3.7 trillion by the end of the decade. Refineries sit at the very root of not only the oil industry but also the gas industry, since without them, the modern day supply chain for fossil fuels cannot function. Therefore, it’s unsurprising that the $1.5 trillion market value of the oil refinery industry is a sizeable fraction of the total value of the global oil industry. This was estimated to sit at $7.3 trillion by 2022 end. Broadly speaking, these two data points show that the oil refinery industry accounted for roughly 21% of the global oil industry in 2022. Some other sectors that account for the remaining share of the oil sector include extraction, midstream transportation and storage, marketing, and retail operations at the pump or the port.

    Zooming back in, some of the biggest pure play oil and gas refining and marketing companies that trade on American stock exchanges are Marathon Petroleum Corporation (NYSE:MPC), Phillips 66 (NYSE:PSX), and Valero Energy Corporation (NYSE:VLO). Like the broader corporate world, it’s earnings season in the oil refinery sector, and these three giants have also reported their financial results. Starting from Marathon Petroleum Corporation, the firm’s profit for the third quarter of 2023 beat analyst estimates by sitting at $8.14 in adjusted net income per share. Similarly, Valero’s $7.49 adjusted net income per share also surpassed analyst estimates. Phillips 66 however suffered from low refining margins as its adjusted earnings per share of $4.63 was thirteen cents lower than the consensus forecast.

    The broader oil market has been quite jittery these days because of fresh conflict in the Middle East, and while oil prices have remained relatively stable, the conflict between Israel and Palestine risks impacting oil supply from West Asia. On this front, Valero Energy Corporation (NYSE:VLO)’s chief executive officer Gary Simmons believes that the U.S. can relieve some of the risks to its oil imports if sanctions against Venezuela are relaxed. Venezuelan oil is sanctioned through actions against the state owned PDVSA, and Simmons shared in recent earnings call that an ease in sanctions can lead to 250,00 barrels of daily oil supply being diverted from the Far East to the U.S.

    With this context, let’s take a look at the best oil refinery stocks to buy. The top three oil refinery stocks in this list are Marathon Petroleum Corporation, Valero Energy Corporation, and Phillips 66.

    An aerial view of an oil and gas refinery, with its tall smoke stacks and complex piping.

    Our Methodology
    To compile our list of the best oil refinery stocks, we narrowed our focus from the broader oil industry to firms that limit themselves to oil refineries. For instance, while oil mega giants such as Saudi Arabian Oil Company (TADAWUL:2222.SR), Exxon Mobil Corporation, Exxon Mobil Corporation and Shell plc also operate refineries, they are excluded from the list since they are not pure play oil refinery companies.

    A list of the 21 largest oil refining firms was initially compiled and then these were ranked by the number of hedge funds that had invested in them as of Q2 2023 end. Out of these, the top oil refining stocks are as follows.

    11 Best Oil Refinery Stocks To Buy
    Adams Resources & Energy, Inc. (NYSE:AE)
    Number of Hedge Fund Investors in Q2 2023: 3

    Adams Resources & Energy, Inc. (NYSE:AE) is a backend oil refinery company that provides raw oil to refiners. The firm is due to report its third quarter earnings in November, and analysts have set a 15 cent EPS estimate.

    Three out of the 910 hedge funds tracked by Insider Monkey were the firm’s investors during Q3 2023. Adams Resources & Energy, Inc. (NYSE:AE)’s largest hedge fund investor is Jim Simons’ Renaissance Technologies as it owns $6.9 million worth of shares.

    Adams Resources & Energy, Inc. (NYSE:AE) joins Valero Energy Corporation (NYSE:VLO), Marathon Petroleum Corporation (NYSE:MPC), and Phillips 66 (NYSE:PSX) in our list of the top oil refinery stocks to buy.

    Aemetis, Inc. (NASDAQ:AMTX)
    Number of Hedge Fund Investors in Q2 2023: 7

    Aemetis, Inc. (NASDAQ:AMTX) is a biodiesel company that converts agricultural products into the fuel. The firm has a strong presence in India, with its subsidiary landing another multi million dollar deal with Indian OMCs in October 2023.

    As of June 2023, seven hedge funds out of the 910 part of Insider Monkey’s research had held a stake in Aemetis, Inc. (NASDAQ:AMTX). Todd J. Kantor’s Encompass Capital Advisors is the company’s biggest investor out of these through its $13.2 million investment.

    CVR Energy, Inc. (NYSE:CVI)
    Number of Hedge Fund Investors in Q2 2023: 14

    CVR Energy, Inc. (NYSE:CVI) is an Icahn Enterprises subsidiary and it refines oil into gasoline and other similar products. Its third quarter financials were quite a striking set of results as they saw the firm grow its net income from the year ago quarter’s $93 million to a whopping $353 million in Q3 2023.

    14 out of the 910 hedge funds tracked by Insider Monkey had invested in the firm during the previous quarter. CVR Energy, Inc. (NYSE:CVI)’s largest hedge fund investor is Carl Icahn’s Icahn Capital LP due to its $2.1 billion investment.

    Vertex Energy, Inc. (NASDAQ:VTNR)
    Number of Hedge Fund Investors in Q2 2023: 17

    Vertex Energy, Inc. (NASDAQ:VTNR) is an American company headquartered in Houston, Texas with motor oil and other refineries. Its operational outlook for the third quarter created quite a stir in October when Vertex Energy, Inc. (NASDAQ:VTNR) revealed that the throughput in its facilities for the third quarter would exceed the high end of its previous guidance by three thousand barrels per day.

    During this year’s second quarter, 17 out of the 910 hedge funds part of Insider Monkey’s database had bought and owned Vertex Energy, Inc. (NASDAQ:VTNR)’s shares. The firm’s biggest shareholder in our database is Adam Usdan’s Trellus Management Company as it owns 2.1 million shares that are worth $13.2 million.

    Delek US Holdings, Inc. (NYSE:DK)
    Number of Hedge Fund Investors in Q2 2023: 19

    Delek US Holdings, Inc. (NYSE:DK) is a semi diversified oil company with a sizeable refining division. The firm’s shares have done well on the market over the past six months as they are up by 27%. However, analysts seem to be unimpressed, as the shares are rated Hold on average.

    After digging through 910 hedge funds for their June quarter of 2023 shareholdings, Insider Monkey discovered that 19 were the firm’s investors. Delek US Holdings, Inc. (NYSE:DK)’s largest investor out of these is Ken Fisher’s Fisher Asset Management as it owns $31 million worth of shares.

    Par Pacific Holdings, Inc.
    Number of Hedge Fund Investors in Q2 2023: 21

    Par Pacific Holdings, Inc. (NYSE:PARR) is a small oil refining company with three facilities under it belt. The firm expanded its oil refining portfolio in June 2023 as it bought an oil refinery previously owned by Exxon Mobil in Montana.

    For their second quarter of 2023 shareholdings, 21 out of the 910 hedge funds tracked by Insider Monkey had held a stake in Par Pacific Holdings, Inc. (NYSE:PARR). David Rosen’s Rubric Capital Management owns the biggest stake among these, which is worth $71 million and comes via 2.6 million shares.

    Marathon Petroleum Corporation (NYSE:MPC), Par Pacific Holdings, Inc. (NYSE:PARR), Valero Energy Corporation (NYSE:VLO), and Phillips 66 (NYSE:PSX) are some top oil refinery stocks being bought by hedge funds.

    Yahoo Finance, Ramish Cheema, November 5, 2023

    Enterprise Expands Permian Pipeline Network With $3.1 Billion Investment

    Houston-based Enterprise Products Partners is investing $3.1 billion into its natural gas liquids (NGL) operations, building a pipeline, adding new plants to process natural gas, and switching an oil pipeline back to an NGL pipeline.

    The company said the projects will support the continuing production growth in the Permian Basin of west Texas and southeastern New Mexico. The company forecasts production growth in the prolific resource play to increase by more than 700,000 B/D in 2023 and grow by about 1.5 million B/D for a 3-year period ending in 2025.

    Enterprise said it sees production growth increasing by up to another 15%, or greater than 1 million B/D by the end of 2030, with NGL production from the Permian potentially growing by more than 500,000 B/D to nearly 4 million B/D by the end of 2030.

    Enterprise’s Co-Chief Executive Jim Teague said that the organic investments are needed to “facilitate the next phase of Permian production growth and will also complement our expansions of downstream pipelines and marine terminals to deliver energy products to growing domestic and international markets.”

    The company will build the 550-mile-long Bahia NGL pipeline capable of transporting up to 600,000 B/D of NGLs from the Delaware and Midland basins to the company’s fractionation complex in Chambers County, Texas.

    The pipeline includes a 24-in.-diameter segment from the Delaware Basin, connecting to a 30-in.-diameter segment from the Midland Basin to the fractionation complex. The wholly owned pipeline could begin operation in the first half of 2025, the company said.

    To provide incremental NGL transportation service until the Bahia Pipeline is completed, the company said it initiated a conversion of the Seminole Pipeline, which carries up to 210,000 B/D of crude oil, back to NGL service in December 2023.

    The pipeline began transporting crude oil in the second quarter of 2019 and was then known as the company’s Midland-to-ECHO 2 crude oil pipeline. Before 2019, the Seminole Red Pipeline was in NGL service, the company said.

    Enterprise is also building two natural gas processing plants and a fractionation unit. The natural gas processing plants—the Mentone 4 and the Orion—will service the Delaware and Midland basins, respectively. Construction has begun on both plants, with each having the capacity to process more than 300 MMcf/D of natural gas to extract more than 40,000 B/D of NGLs.

    The company is adding a fractionation unit at its Chambers County complex. The plant will have the capacity to fractionate up to 195,000 B/D of NGLs, and a new deisobutanizer unit will be able to separate up to 100,000 B/D of butanes.

    JPT, Jennifer Presley, November 11, 2023