The OilSpot News by Telvent DTN
Tuesday, January 3, 2012 VOLUME 10 ISSUE 485  

Enterprise, Enbridge to Conduct Open Season for Seaway Line
DOT: Vehicle Miles Traveled in October Drops 2.3% vs. Year Ago
ATA: For-Hire Truck Tonnage Index Up 0.3% in November from Prior Month
PMG New Jersey Acquires 46 Shell Stations Owned by Motiva
ExxonMobil Fuels Consolidates with ExxonMobil Lubricants
Wright Express FCI: US Construction Up 1.8% YoY in November
EIA says Arctic Holds 13% of World’s Untapped Oil, 30% of Natural Gas

EIA’s US Retail Gasoline Average Up 2.9cts to $3.258 Gallon
US Retail Diesel Average Slides 3.7cts to $3.791 Gallon
EIA’s Home Heating Oil Average Up 0.8cts at $3.831 Gallon
Propane Supply Drawn Down 700,000 Bbl Week-ended Dec.23

Federal Judge Rules California’s LCFS Unconstitutional
Nebraska Maps Issued to Produce New Keystone XL Pipeline Route
EPA Releases Final 2012 Renewable Fuels Standard Volumes
EPA Developing Rule to Reduce Sulfur Levels in Gasoline
CFTC Unanimously Approves Two Rules on Swaps Reporting
Growth Energy Lays out Plan to Expand Ethanol Use in 2012
North Carolina’s Gasoline Tax Increases to 6th Highest in US

Economic Indicators

Weekly Rack Postings

Weak Gasoline Demand Continues
Slumping Gasoline Use Drags Total Petroleum Demand Down in November

At 18.8 million bpd, total petroleum deliveries, a measure of demand, were 1.1% lower in November 2011 compared with the prior year, the American Petroleum Institute reported in its most recent Monthly Statistical Report released Dec. 22. Pressuring the overall demand rate was a 1.8% decrease in motor gasoline, which tumbled to an 11-year low for the month at 8.7 million bpd.

Deliveries of distillate and jet fuels were strong, with distillates up 4.3% thanks to higher ultra-low sulfur distillate fuel demand while jet fuel deliveries surged 7.5% year on year.


Board Gives Thumbs Up
PBF to Invest $1 Billion to Upgrade Delaware City Refinery

PBF Holding Company LLC and the Delaware City Refining Company on Dec. 21 announced the PBF Clean Fuels Project, a $1 billion upgrade to the Delaware City, refinery in Delaware to enable it to produce cleaner fuels.

PBF’s board of directors approved the construction of the project consisting of a mild hydrocracker and hydrogen plant at the refinery. The construction period will last approximately three years and, when completed, will process streams from both the Delaware City refinery and PBF’s Paulsboro refinery in New Jersey.


Supply Squeeze Brewing?
EIA says Northeast Refinery Shutdowns to Pose Supply Challenges

Plans to idle more than 50% of refining capacity in the Northeast will likely impact supplies of petroleum products, according to a report issued on Dec. 23 by the Energy Information Administration.

In the report, "Reductions in Northeast Refining Activity: Potential Implications for Petroleum Product Markets," EIA said the reduction is a transition period as supply sources shift, saying it could be "problematic for ultra-low sulfur diesel, gasoline, and jet fuel supplies."


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The OilSpot News from Telvent DTN
December 19, 2011
Vol. 10 Issue 484
The OilSpot News from Telvent DTN
December 12, 2011
Vol. 10 Issue 483
The OilSpot News from Telvent DTN
December 5, 2011
Vol. 10 Issue 482
The OilSpot News from Telvent DTN
November 28, 2011
Vol. 10 Issue 481
The OilSpot News from Telvent DTN
November 21, 2011
Vol. 10 Issue 480


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