The OilSpot News by Telvent DTN
Monday, February 6, 2012 VOLUME 10 ISSUE 490  



Shell: Port Arthur Expansion Project Progressing as Planned
BP Shipping Crude to US West Coast through Trans-Panama Pipeline
Colonial to Allow 5% Renewable Diesel in Heating Oil on Pipeline
MPC Evaluating Strategic Alternatives for Midstream Assets
BP to Revitalize US Retail Brand with $500 Million Marketing Plan
California Gasoline Demand in October Down Year-on-Year, Diesel Use Up
US C-Store Count Climbs 1.2% in 2011 to Record 148,126 Stores


US Retail Gasoline Average Jumps 5.0cts to Three-month High
US Retail Diesel Average Up 0.2cts to $3.850 Gallon
Home Heating Oil Average Up 1.4cts at $3.951 Gallon
Propane Supply Drawn Down 1.8 Million Bbl Week-ended Jan. 27


EPA: Biodiesel RINs from Absolute Fuels must be Replaced
API: Keystone XL Pipeline would Help Supply US Refineries
Bill to Require Approval of Keystone XL Pipeline Project
RFA Urges US to Probe Brazil’s Tax on Imported Ethanol
USW Reaches Tentative Three-year Agreement with Oil Industry
Maryland Governor Looks to Charge 6% Sales Tax on Gasoline
Bill Stobaugh Promoted to Executive VP at Murphy Oil Corp.


Economic Indicators


Weekly Rack Postings

Sunoco’s Elsenhans Stepping Down
Cites Interest in Philadelphia Refinery while Company Exits Manufacturing

 
 
Sunoco, Inc. made several announcements late last week, citing sales interest for its Philadelphia Refinery that it would otherwise close this summer, and that the company’s CEO would step down as it exits manufacturing.
 
The Philadelphia-based company also announced Feb. 2 that its focus will be on its high-return logistics and retail businesses, and that Brian P. MacDonald, senior vice president and chief financial officer, will become president, chief executive officer and director, effective March 1.
 

[FULL STORY]
 

Adjusting to New Environment
Frost & Sullivan says 40% of Europe’s Refineries Need Refurbishing

 
 
Up to 40% of Europe’s petroleum refineries are in need of upgrades due to shifting demands for oil products, according to Enguerran Ripert, an energy consultant for Frost & Sullivan.
 
Ripert told Telvent DTN on Friday (2/3) that of Europe’s 104 refineries, at least 25% may end up in the same state as Petroplus, the largest independent European petroleum refiner with a pending bankruptcy. However, Ripert noted the high cost of crude oil, with Brent crude over $100 bbl, is encouraging refurbishment of refining plants that cannot efficiently produce some of the products needed in today’s European market.
 

[FULL STORY]
 

Setting Demand Pace
RFS2 Driving Needed Expansion in Biodiesel Infrastructure
by Myke Feinman

Sourced from DOE EERE
 
 
With the Renewable Fuels Standard requiring blending of one billion gallons of biodiesel into petroleum diesel this year and the prospect for that mandate to increase in 2013, companies are starting to respond by expanding blending infrastructure across the country.
 
However, even with announced plans for expansions in infrastructure, its not growing fast enough, according to a spokesman for Renewable Energy Group, one of the largest producers of biodiesel in the United States with a fleet of six plants capable of churning out 212 million gallons per year.
 

[FULL STORY]
 


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