The OilSpot News by DTN
Monday, October 12, 2009 VOLUME 8 ISSUE 373  



EIA says Winter Fuel Expenditures, Consumption to Drop
EIA Revises Up Global Oil Demand Forecast for Q4 and 2010
IEA Trims Global Oil Demand Loss in 2009 by 200,000 Bpd
ConocoPhillips Plans to Cut Spending, Sell $10 Billion in Assets
Vitol to Buy SemGroup Energy Partners G.P., L.L.C.
Marathon’s Interim Q3 Refined Products Sales Volume Up 3%


EIA says US Retail Gasoline Average DN 3.1cts—Eyes $2.44 Gal for Q4
On-Highway US Diesel Slips—EIA Pegs $2.60 Gal Average in Q4
Home Heating Oil Averaged $2.504 Gal Week-ended Oct. 5
US Propane Stockpiles Up 100,000 Bbl Week-ended Oct. 2


Chu Announces New Plan to Provide Renewable Energy Funds
FTC Reviewing Global’s Planned Acquisition of 3 Terminals in New York
Pennsylvania Provides Grants for Renewable Fuels Projects
Ainsworth Rejoins Sunoco, Inc. as Senior VP, Refining
CleanFUEL USA Names Tucker Perkins President and COO
College Seeks $25 Million for Biofuels Project in South Carolina
Environment Group’s Report Promotes Biofuels in Indiana


Economic Indicators


Weekly Rack Postings

A Season of Plenty
Propane Inventories Atypically High for 2009-2010 Winter

Propane inventories are “plentiful” this year as we approach the winter season, in contrast to the usual tight propane supply the U.S. has experienced for the past few years, said Ron Gist, senior principal at Purvin & Gertz Inc.

Gist presented an outlook on propane supply and demand for the National Association of State Energy Officials’ conference on winter fuels Oct. 6.

Propane should be easy to come by this winter partly because gas processing did not suffer as many issues as a result of hurricanes. Last year, hurricanes Ike and Gustav impacted processing, and, in 2005, Hurricane Katrina disrupted operations.


[FULL STORY]
 

New Jersey Refinery Closing
Sunoco Shuts Down Eagle Point Refinery Indefinitely amid Poor Economics

Eagle Point Refinery

Sunoco, Inc. last week announced that it is indefinitely idling all process units at its Eagle Point refinery located in Westville, New Jersey, “in an effort to reduce losses in its refining business when a recessionary economy, weak demand for refined products, and increased global refining capacity have created margin pressure on the entire refining industry.”

The company said it will shift production from the Eagle Point facility to its two nearby refineries in Marcus Hook and Philadelphia, Pennsylvania, which will now operate at higher capacity utilization. Sunoco reported it will be able to produce essentially the same amount of refined products in two facilities that it currently produces in three while continuing to meet customer demand.

Refined products storage and handling at the Eagle Point refinery will continue and the products rack, operated by Sunoco Logistics Partners, L.P., will remain open.


[FULL STORY]
 



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