Sky Quarry Stock Jumps 120% as Oil Surge and West Coast Refinery Closures Recast Nevada Plant

Overview

• Sky Quarry, which jumped about 120% Thursday, rallied after Brent crude pushed past $112 a barrel following Middle East shipping disruptions.
• California refinery exits at Phillips 66 Wilmington and Valero Benicia removed about 290,000 barrels per day from West Coast capacity, tightening fuel supply.
• Nevada uses more than 300,000 barrels of fuel a day yet has no other in‑state refineries, so it depends on imports from neighboring states, mainly California.
• The company runs the Foreland Refinery in Nevada with roughly 5,000 barrels per day of permitted capacity that can produce diesel, naphtha, vacuum gas oil, and paving asphalt.
• Sky Quarry says it is pursuing crude supply deals for the plant and reported $16.4 million in trailing revenue alongside cash burn and significant debt.