The OilSpot News by Telvent DTN
Monday, December 5, 2011 VOLUME 10 ISSUE 482  



CHS to Become Sole Owner of McPherson Refinery in Kansas
Plains Subsidiary to Acquire BP’s Canadian NGL, LPG Assets
Kinder Morgan to Add 2.4 Million Bbl Storage at Edmonton Terminal
Empire Petroleum Partners Joins Quick-Way Wholesale/Retail
Gasoline Demand in California Slides in August on Year while Diesel Use Up
Over 10% of US Homes Use Heating Oil, Propane for Heat
US Biodiesel Output in 2011 at Record—Tops 800 Million Gallons


EIA’s US Retail Gasoline Average Drops 6.1cts to $3.307 Gallon
EIA’s US Retail Diesel Average Slides 4.6cts to $3.964 Gallon
Home Heating Oil Average Drops 4cts to $3.895 Gallon
Propane Supply Up 400,000 Bbl Week-ended Nov.25


House Agriculture Committee Subpoenas Corzine to Testify
NA Energy Security Act Seeks to Spark Keystone XL Pipeline
API says EPA’s Rules for Hydraulic Fracturing Impractical
Ethanol Plant to Pay $760,000 for False Air Pollution Data
UGI, AmeriGas to Re-file For Acquisition of ETP Propane
Getty Realty Serves Marketing Notice of Lease Termination
BP to Pay $426,500, Secure Funds to Close, Clean Up Sites


Economic Indicators


Weekly Rack Postings

Amid Negative Gas Cracks
Sunoco Speeds Up Idling of Marcus Hook Refinery while Pursuing Options

Sunoco, Inc. announced on Thursday (12/1) that it is indefinitely idling the main processing units at its 178,000 bpd refinery in Marcus Hook, Pennsylvania, due to deteriorating refining market conditions.

The company expects to begin shutting the facility immediately while it continues to seek a buyer and also pursues options with third parties for alternate uses of the facility.


[FULL STORY]
 

Western to Sell Yorktown Refinery
Plains All American also Acquiring Pipeline Segment in New Mexico

Western Refining, Inc. on Thursday (12/1) announced that it has entered into agreements with Plains Marketing, L.P. and Plains Pipeline, L.P., both subsidiaries of Plains All American Pipeline, L.P., for the divestiture of its Yorktown facilities in Virginia, which includes a refinery and underutilized segment of its crude oil pipeline in southeast New Mexico for $220 million.

“We are very pleased with these transactions as they allow Western to monetize the Yorktown assets and exit the volatile East Coast refining market,” said Jeff Stevens, Western’s president and CEO.


[FULL STORY]
 

Location, Location, Location!
Well, Seaway Pipeline Reversal about Location and Crude Quality

Unlike the real estate market, the oil markets are not just about location, but also about crude quality, according to This Week in Petroleum posted Nov. 30 by the Energy Information Administration. EIA illustrated the point with the recently announced reversal of the Seaway crude oil pipeline between Texas and the U.S. Midwest.

EIA said the news sent ripples through U.S. and international crude markets, as participants anticipated an opening of new coastal markets for rising North American crude production long landlocked. The price discount of West Texas Intermediate at Cushing, Oklahoma, relative to other grades, having widened for months, had already been narrowing before the news broke.


[FULL STORY]
 


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