The OilSpot News by Telvent DTN
Monday, November 7, 2011 VOLUME 10 ISSUE 478  

Colonial Plans 24,000 Bpd Pipeline Expansion in Virginia
Magellan Expanding Houston Area Crude Distribution System
Buckeye Partners Acquires Propane Storage Caverns from BP
Pilot Flying J to Acquire 7 Bosselman Travel Centers
California Gasoline Use DN 2.2%, Diesel Up 1.9% in July YoY
REX Hikes Ownership of NuGen Energy Ethanol Plant to 98%
Chesapeake to Anchor Enterprise Ethane Line to Gulf Coast

US Retail Gasoline Average Eases 1.0cts to $3.452 Gallon
US Retail Diesel Average Jumps 6.7cts on Week to $3.892 Gallon
Home Heating Oil Average Jumps 5.2cts to $3.85 Gallon
Propane Supply Builds 1.2 Million Bbl Week-ended Oct.28

CME Group: Transfers of MF Global Accounts Being Completed
EU Ethanol Group seeks Duties on Ethanol Imports from US
BP to Pay Texas $50 Million for Texas City Emissions Violations
EPA Orders Pollution Investigation at El Dorado Refinery
EPA Reaches Final Frac Study Plan on Drinking Water Impact
SemGroup Completes SemStream Asset Contribution to NGL
Gas Station Owner in Massachusetts to Pay $200,000 for Diesel Spill

Economic Indicators

Weekly Rack Postings

CVR Energy to acquire Gary-Williams
Coffeyville Refinery Operator Purchase includes Wynnewood Refinery

CVR Energy, Inc. announced in a Nov. 2 news release a definitive agreement to acquire Gary-Williams Energy Corp. and its Wynnewood, Oklahoma, refinery and related assets for $525 million plus working capital, currently estimated at approximately $100 million.

The 70,000 bpd Wynnewood refinery will provide “an immediate and meaningful increase in the scale and diversity of CVR Energy’s refining operations,” said the company.


Inventory’s Still High But
East Coast Distillate Stocks Declining when Supply Building is Typical

Sourced from Wikipedia

East Coast distillate inventories peaked Aug. 26 before being drawn down by 4.7 million bbl through Oct. 28, representing an average draw of 75,000 bpd, 11% below the five-year average at a time when inventories normally build ahead of winter, according to This Week in Petroleum posted Nov. 2 by the Energy Information Administration.

“Distillate stocks in the Northeast, the nation’s largest heating oil market, typically peak in November, to help meet peak heating demand during the months of December, January and February,” EIA reported.


Differentiating Crudes
WTI, LLS Crude Oil 3:2:1 Crack Spreads Diverge in 2011

Marathon's Garyville Refinery

Wholesale refinery margins or crack spreads based on West Texas Intermediate crude oil have been climbing higher in 2011 than those based on other crude oils due to supply constraints, according to a report on crack spreads posted last week by the Energy Information Administration.

The 3-2-1 crack spread is the difference between the market value of the refinery input of crude oil and the two key outputs of gasoline and diesel fuel, weighted in rough proportion to their shares of production.


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The OilSpot News from Telvent DTN
October 31, 2011
Vol. 10 Issue 477
The OilSpot News from Telvent DTN
October 24, 2011
Vol. 10 Issue 476
The OilSpot News from Telvent DTN
October 17, 2011
Vol. 10 Issue 475
The OilSpot News from Telvent DTN
October 10, 2011
Vol. 10 Issue 474
The OilSpot News from Telvent DTN
October 3, 2011
Vol. 10 Issue 473


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