By Aaron Clark – Mar 21, 2012 8:34 PM GMT
U.S. Gulf Coast gasoline strengthened after Motiva Enterprises LLC reported a power failure at its Port Arthur refinery in Texas.
Operations followed stabilize, slow down, and shutdown procedures to minimize emissions after an electrical storm knocked out power, the company said in a filing with the Texas Commission on Environmental Quality. The failure caused emissions from a fluid catalytic cracker, the filing showed.
The premium for 87-octane RBOB gasoline in the Gulf Coast widened 2.63 cents to 5.38 cents a gallon versus futures traded on the New York Mercantile Exchange at 3:48 p.m., according to data compiled by Bloomberg.
Conventional 87-octane gasoline in New York strengthened 5 cents to a discount of 10.5 cents versus futures. The fuel has gained 6.63 cents since PBF Energy Inc. (PBF) reported a fire at its Delaware City refinery in Delaware on March 16.
The discount for the same gasoline in Chicago narrowed 0.5 cent to 6 cents a gallon versus futures. Prompt delivery fell 0.1 cent to $3.2971 a gallon.
To contact the editor responsible for this story: Dan Stets at [email protected]
RELATED POSTINGS ON SHELL BLOG BY Golden Triangle Watchman
on Mar 8th, 2012 at 12:01 pm
As you can see, another power outage at Motiva Port Arthur. Going to really be interesting to watch this new albatross come up on rates and then have this 100 year old power supply keep shutting it down. Tom, why didnt you fix the electrical system when you had the opportunity? Too busy counting your stock options I guess. Let Jeff do that for you and try to make a difference in your final days.
on Mar 22nd, 2012 at 12:02 pm
If anyone is counting, power outage #3 in the past few weeks happened again for the motiva port arthur facility. Tom, why arent you adressing this? or are you too busy with getting feed in to the new refinery so you can get off the clock? Its a shame that we are starting this new refinery up with a flat tire. Hilton, are you counting how many times we are in the flare?