The OilSpot News by Telvent DTN
Monday, March 26, 2012 VOLUME 10 ISSUE 497  



Valero to Shut Aruba Refinery—Cites Losses of $500,000 per Day since 2009
Sunoco Logistics Adds N.J. Storage Capacity after Closure
Colonial Pipeline to Add 20,000 bpd Capacity to Line 3 by Mid-Year
Hess says Exploring Sale of St. Lucia Storage Terminal
Enterprise to Build Two more Fractionators at Mont Belvieu
EIA says 2011 Refinery Utilization Rates a Reaction to Economics
BENTECK sees Canadian Crude Grade at $27 Bbl WTI Discount


US Retail Gasoline Average Climbs 3.8cts to 10-month High
EIA’s US Retail Diesel Average Surges to nearly 3-1/2 Year High
Home Heating Oil Average Hits Record High at $4.112 Gallon
Propane Supply Up 500,000 Bbl to 42.7 Million Bbl Week-ended March 16


CME Group to Maintain a Tweaked NYMEX Heating Oil Contract
API: New Tier 3 Gasoline Rules Hike Cost by 6-9cts Gallon
Legislators, Trade Groups Push for Full Keystone XL Passage
EPA Issues Rules to Resolve Fake 2010, 2011 Biodiesel RINs
Ethanol, RIN Prices Likely Pressured by RIN “Banking”
Pennsylvania Officials, EPA Discuss Potential Summertime Fuel Waiver
Ethanol Group RFA Reports Progress in Commercializing E15


Economic Indicators


Weekly Rack Postings

The Refining Squeeze
Congressman Voices Security Concern over Refinery Closures

Valero's Aruba Refinery
A structural shift in the global refining industry has had a harsh impact on Atlantic Basin refineries over the last few years, with higher crude prices, increased competition, and growing environmental and compliance costs forcing the closure of a number of facilities.
 
Valero Energy Corp. on March 19 became the latest Atlantic basin refiner to call it quits, announcing for the second time in less than three years that it would shutter its subsidiary’s 235,000 bpd refinery in Aruba “due to unfavorable refinery economics and the outlook for continued unfavorable refinery economics.”

[FULL STORY]
 

North America’s Output Surge
Citi Projects Sharp Drop in WTI Crude to $70 Bbl by 2020

Using $85 bbl as a baseline, Citi projects the price of West Texas Intermediate crude oil will fall 15% to 20% from that price point by the year 2020, according to a presentation made on March 22 called “Energy 2020: North America, The New Middle East?”
 
Citi said there will be an increase in crude oil and petroleum products production in North America, and that demand globally will decrease from 2012 to 2020.

[FULL STORY]
 

No Linkage Here
EIA says Record Exports Not Driving Up Domestic Gasoline Prices

U.S. gasoline exports, at a record high last year, are not driving up domestic gasoline prices, according to “This Week in Petroleum” posted online March 21 by the Energy Information Administration.
 
EIA said the increase in U.S. petroleum product exports, with the United States in 2011 a net exporter of petroleum products for the first time since 1949, has led some to ask if higher gasoline exports caused higher U.S. pump prices.

[FULL STORY]
 


Do you believe the US is entering a manufacturing renaissance because of cheap natural gas and shale oil?
Yes
No
Not sure
  [See Results]

If you are having trouble submitting this survey, please   click here


RECENT ISSUES

The OilSpot News from Telvent DTN
March 19, 2012
Vol. 10 Issue 496
The OilSpot News from Telvent DTN
March 12, 2012
Vol. 10 Issue 495
The OilSpot News from Telvent DTN
March 5, 2012
Vol. 10 Issue 494
The OilSpot News from Telvent DTN
February 27, 2012
Vol. 10 Issue 493
The OilSpot News from Telvent DTN
February 21, 2012
Vol. 10 Issue 492

[MORE]


Enter your email address below to receive a weekly issue of The OilSpot News:


Add Remove
Send as HTML
 



VISIT DTN ENERGY

Published by Telvent DTN
Copyright © 2012 Telvent DTN . All rights reserved.
All Rights Reserved and all of the releases provided are protected by copyright and other applicable laws, treaties, conventions. All reproductions, other than for an individual user's reference, is prohibited without prior written consent. Contact Telvent DTN at: www.telventdtn.com or call Toll Free 1.800.779.5779
Forward to a Friend