jeudi 12 mars 2015
Fuel-Thirsty California Looks to Eastern Canada, Asia for Supply
Posted on 04:06 by nice news
Fuel producers in California, facing plant outages and upsets that are squeezing supplies, are looking as far off as Asia and eastern Canada for reinforcements.
A tanker carrying refined products such as gasoline, diesel and jet fuel was bound for Los Angeles on Wednesday after loading at the Point Tupper terminal in Nova Scotia, shipping data compiled by Bloomberg show. At least seven other fuel tankers were headed to the U.S. West Coast after leaving Asia, the data show.
Tankers are bound for California after a spate of refinery shutdowns that propelled the premium for the state’s special blend of gasoline to a seasonal record. Pump prices surged by the most ever, making California home to the most expensive fuel in the U.S.
“Due to U.S. refinery outages, Korea has had export opportunities of Carbob to the U.S. West Coast,” Harry Tchilinguirian, BNP Paribas SA’s London-based head of commodity markets strategy, said in a research note on Wednesday.
An explosion at Exxon Mobil Corp.’s Torrance refinery near Los Angeles and the shutdown of Tesoro Corp.’s Golden Eagle refinery near Martinez in Northern California have both “created arbitrage opportunities” on the West Coast, New York-based Poten & Partners Inc. said in a report March 6.
Sending Carbob
A tanker carrying refined products such as gasoline, diesel and jet fuel was bound for Los Angeles on Wednesday after loading at the Point Tupper terminal in Nova Scotia, shipping data compiled by Bloomberg show. At least seven other fuel tankers were headed to the U.S. West Coast after leaving Asia, the data show.
Tankers are bound for California after a spate of refinery shutdowns that propelled the premium for the state’s special blend of gasoline to a seasonal record. Pump prices surged by the most ever, making California home to the most expensive fuel in the U.S.
“Due to U.S. refinery outages, Korea has had export opportunities of Carbob to the U.S. West Coast,” Harry Tchilinguirian, BNP Paribas SA’s London-based head of commodity markets strategy, said in a research note on Wednesday.
An explosion at Exxon Mobil Corp.’s Torrance refinery near Los Angeles and the shutdown of Tesoro Corp.’s Golden Eagle refinery near Martinez in Northern California have both “created arbitrage opportunities” on the West Coast, New York-based Poten & Partners Inc. said in a report March 6.
Sending Carbob
Fuel-Thirsty California Looks to Eastern Canada, Asia for Supply
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