The OilSpot News by DTN
Monday, August 31, 2009 VOLUME 8 ISSUE 367  



Aruba Refinery to Remain Shut Indefinitely—Sale Still an Option
Valero Expects 100% of US Gasoline will include Ethanol
Truck Tonnage in July Up 2.1%—Index Still Down 10.4% on Year
USDG to Build Ethanol Terminal in Southern California
Tesoro Receives First Crude Shipment via Reversed Pipeline in Panama
Bosselman Acquires 15 J Care Service Ctrs from Flying J Travel


US Gasoline Average Slips for Second Week to $2.628 Gal
US Diesel Fuel Average Climbs to 2009 High at $2.668 Gal
US Propane Stockpiles Up 900,000 Bbl Week-ended Aug. 21


Sale of Bankrupt APPCO’s Retail Assets Nears Completion
Refiner Valero Invests in Advance Biofuels Producer
SemGroup Files Third Reorganization Plan—Eyes November Exit from Bankruptcy
First United Ethanol Denies Possible Bankruptcy Reports
The Pantry, Inc. Names Terrance Marks President, CEO
Clean Energy Customers, Government Partners Awarded DOE Grants
EPA, San Francisco award Delta Contract to Aid in LUST Remediation


Economic Indicators


Weekly Rack Postings

OPEC to Meet in Early September
Tanker Tracking Service Shows “Enhanced Compliance” with Quota

Crude oil exports from Organization of Petroleum Exporting Countries will ease by 30,000 bpd during the week ending Sept. 12 to 22.590 million bpd, according to new data from Halifax, England-based tanker tracker Oil Movements released late last week, continuing a recent trend that shows “enhanced compliance” with pledged production quotas.

OPEC members agreed to three separate reductions in their production in late 2008 amid the widening economic morass at the time that pummeled global demand for crude oil, culminating in a 4.2 million bpd cut from their September 2008 output level. The pledged reduction in their production took effect Jan. 1, which doesn’t require compliance by Iraq in the 12-member cartel.

OPEC-11 output in September 2008 was 29.045 million bpd, so their pledge would drop their collective production total to 24.845 million bpd.


[FULL STORY]
 

Legislating Dependency
Study Shows Climate Bill would Outsource US Refining

A study commissioned by the American Petroleum Institute shows that the United States will be more dependent on imports of gasoline and other petroleum fuels while U.S. refining production would be shifted overseas if the climate change bill which passed in the U.S. House of Representatives becomes law, according to an API news release.

The American Clean Energy and Security Act, which passed in a 219 to 212 vote in June, seeks to reduce greenhouse gases through a cap-and-trade system.

The study done by consulting firm EnSys Energy showed that investment in U.S. refining capacity would drop while the cost of business would rise substantially. The study also states that the reduction in U.S. emissions would be offset by increased emissions in other countries as refining becomes outsourced.

API President and CEO Jack Gerard said the study shows that the legislation could have a “devastating impact” on U.S. jobs and energy security.


[FULL STORY]
 



Will OPEC make a change to their 4.2 million bpd production cut quota in effect since Jan. 1 when they meet in September?
Yes, will increase the amount of the reduction
Yes, will decrease the amount of the reduction
No, will rollover the quota
Not sure
  [See Results]


RECENT ISSUES

The OilSpot News from Telvent DTN
August 24, 2009
Vol. 8 Issue 366
The OilSpot News from Telvent DTN
August 17, 2009
Vol. 8 Issue 365
The OilSpot News from Telvent DTN
August 10, 2009
Vol. 8 Issue 364
The OilSpot News from Telvent DTN
August 3, 2009
Vol. 8 Issue 363
The OilSpot News from Telvent DTN
July 27, 2009
Vol. 8 Issue 362

[MORE]


Enter your email address below to receive a weekly issue of The OilSpot News:


Add Remove
Send as HTML
 



VISIT DTN ENERGY

Published by DTN
Copyright © 2009 DTN . All rights reserved.
All Rights Reserved and all of the releases provided are protected by copyright and other applicable laws, treaties, conventions. All reproductions, other than for an individual user's reference, is prohibited without prior written consent. Contact DTN at: www.dtn.com or call Toll Free 1.800.779.5779
Forward to a Friend