The OilSpot News by Telvent DTN
Monday, November 21, 2011 VOLUME 10 ISSUE 480  



ConocoPhillips to Sell Stakes in Two US Pipelines for $2 Billion
Fitch: Seaway Line Reversal to Alleviate Cushing Bottleneck
ExxonMobil Selling 236 New Jersey Stations to Wholesalers
Rangeland to Handle Bakken Crude for Flint Hills
Westway Group to Expand Houston Bulk Liquids Terminals
Oiltanking Plans Houston Pipelines, Crude Storage Expansion
SemCrude Expanding Colorado Truck Crude Unloading Terminal


US Retail Gasoline Average Up 1.2cts to $3.436 Gallon
US Retail Diesel Price Jump 10.0cts to $3.987 Gallon
Home Heating Oil Average Soars 6.5cts to $3.942 Gallon
Propane Supply Drawn Down 600,000 Bbl Week-ended Nov.11


CME says Seaway Pipeline Reversal Major Market Development
TransCanada Supports New Proposed Route for XL Pipeline
CFTC’s O’Malia Calls for Steps to Boost Confidence after MF Global
SemGroup Rejects Plains’ Second Unsolicited Bid for Company
Minnesota May Delay Increasing B5 Mandate to B10 by a Year
Fuel Economy, GHG Standards Proposed for 2017-2025 Vehicles
Government Still Soliciting for Home Heating Reserve Stocks


Economic Indicators


Weekly Rack Postings

Takeaway Capacity for Cushing
Enbridge, Enterprise Agree to Reverse Seaway Crude Pipeline

Sourced from Wikipedia

Enbridge Inc. and Enterprise Products Partners L.P. in a joint news release on Nov. 16 announced their agreement in reversing the direction of crude oil flows on the Seaway pipeline to enable it to transport oil from Cushing, Oklahoma, to the U.S. Gulf Coast.

Pending regulatory approval, the line could operate in reversed service with an initial capacity of 150,000 bpd by second quarter 2012.


[FULL STORY]
 

Oil Demand Up in October
API says Economic Improvement Spurs Growth in Petroleum Demand

Amid ongoing signs that the U.S. economy experienced modest growth early in the fourth quarter, total petroleum deliveries, a measure of demand, rose 2.5% in October compared with the year prior period, the American Petroleum Institute reported in its most recent Monthly Statistical Report released on Friday (11/18). At 19.4 million bpd, total deliveries were at a three-year high for the month of October.

Manufacturing output continued to strengthen for the month as the ISM Manufacturing Index Survey showed expansion for the 27th consecutive month. However, according to the Consumer Confidence Index Survey, October’s 39.8 reading was at a record low for the year.


[FULL STORY]
 

Crude on the Tracks
EIA says Rail Delivery of Crude Rising due to Lack of Pipelines

More U.S. crude oil is being shipped by rail, especially from North Dakota where a lack of pipelines has companies relying on tank cars to bring the state’s soaring oil production to market, according to a report posted Nov. 16 by the Energy Information Administration.

Pipelines remain the most popular transport option, carrying two-thirds of U.S. oil and petroleum products, but rail is rising.


[FULL STORY]
 


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