HOUSTON, June 14 (Reuters) - U.S. crude oil refining
capacity fell 4% to 17.53 million barrels per day (bpd) this
year, a government report showed on Friday amid plant closures
and conversions to biofuels.
The Energy Information Administration (EIA) said the figures
reflect capacity online as of Jan. 1, and the drop came despite
the startup last year of a major expansion to Exxon Mobil's ( XOM )
Beaumont, Texas, refinery.
Oil processing capacity at the start of 2024 was more than a
million barrels below the 2019 peak of 18.98 million bpd, which
came before a wave of plant closures and conversions during the
COVID-19 pandemic.
Refiners process crude oil into gasoline, diesel, jet fuel
and other products.
Marathon Petroleum Corp ( MPC ) remained the largest refiner
in the United States, able to process up to 2.95 million bpd, or
16.8% of the country's total, at its 13 U.S. plants, the EIA
report showed.
Valero Energy Corp ( VLO ) was the second-largest U.S.
refiner by volume with its 2.21 million bpd capacity equal to
about 12.6% of the total.
Exxon was third largest with nearly 1.95 million bpd after a
$2 billion expansion to its Beaumont, Texas, facility came
online in spring, 2023, raising that facility's processing
capacity to 609,000 bpd.