The OilSpot News by Telvent DTN
Monday, April 2, 2012 VOLUME 10 ISSUE 498  

ConocoPhillips Extends Sale Deadline for Trainer Refinery
Western Refining to Boost Gallup Refinery Crude Processing
NPD: Consumers Paid 24% More for 1.7% Less Gasoline in 2011
Californians Gasoline Use Declined in Q4, Full Year 2011
DOT: Vehicle Miles Traveled in January Rose 1.6% vs. Year Ago
ATA: February Truck Tonnage Index Up 0.5% from Month Prior
Goldman Sachs Reaffirms Long Position for WTI Crude Oil

US Retail Gasoline Average Jumps to Better-than 10-month High
US Retail Diesel Average Posts nearly 3-1/2 Year High
Propane Supply Up 1.0 Million Bbl Week-ended March 23

Obama: Oil Supplies Sufficient to Reduce Iranian Imports
IEA Concerned with Impact of High Oil Prices, Ready to Act
End of Tax Credit has no Impact on Biofuels, Senate Told
Pennsylvania Awarded Grant for Workers Impacted by Refinery Layoffs
Washington Agency, Tesoro Respond to Spill at Anacortes Refinery
EPA Proposes Uniform Standards for Storage, Transfer Ops
Texas Fines TOTAL for Port Arthur Refinery Air Quality Violations

Economic Indicators

Weekly Rack Postings

Unlocking the Cushing Hub
Expansion to Double Capacity for Seaway Crude Oil Pipeline

Sourced from Wikipedia
Enbridge Inc. and Enterprise Products Partners L.P. said in a news release they are proceeding with an expansion of the Seaway Pipeline that will more than double its capacity to 850,000 bpd by mid-2014, after having secured additional commitments from shippers.
“Based on the tremendous response to the open commitment period, shippers have recognized the advantages Seaway offers in being able to provide a timely, economic and complete solution for relieving not only the bottleneck at Cushing but facilitating the development and delivery of North American energy reserves,” said Michael A. Creel, president and CEO of Enterprise’s general partner.


Refiners going South of the Border
EIA says Gasoline Exports to Mexico Steady, Distillates Growing

Sourced from Wikipedia
U.S. gasoline exports to Mexico are set to stabilize at current levels while distillate fuel exports are likely to grow with robust Mexican demand, according to This Week in Petroleum posted by the Energy Information Administration on March 28.
Mexico’s product imports from the United States increased two-and-a-half times between 2003 and 2011.


Oil and the US Economy
Fitch Reports Oil Imports Worsening Q1 US Trade Deficit

A sharp rise in petroleum prices will likely drive an increase for the first quarter U.S. trade and current account deficits, both of which have worsened steadily since the end of the recession, according to a March 28 report from Fitch Ratings.
With benchmark Brent crude prices still near their 2011 highs, Fitch Ratings expects rising oil imports in the early months of the year to place some drag on first quarter U.S. GDP growth as imports once again rise faster than exports.


Once operational, do you think the Seaway Pipeline will reduce Brent crude’s $20 bbl premium over WTI?
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The OilSpot News from Telvent DTN
March 26, 2012
Vol. 10 Issue 497
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March 19, 2012
Vol. 10 Issue 496
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March 12, 2012
Vol. 10 Issue 495
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March 5, 2012
Vol. 10 Issue 494
The OilSpot News from Telvent DTN
February 27, 2012
Vol. 10 Issue 493


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