ANS Crude Sold At Discount

Monday, July 30, 2001
A cargo of Alaska North Slope (ANS) for September delivery was sold to a California refiner at a discount of $2.75 a barrel to September West Texas Intermediate (WTI) crude. The deal marked a further widening of the ANS discount against WTI since a low for the year was set on July 3 with two deals at discounts of $1.59 and $1.61. In January of this year the discount stood at levels of over $5. On Wednesday of this week two deals were struck for September delivery of ANS to Hawaii at the same price of $2.25 a barrel below ANS on a delivered basis. Traders had said this equated to a price of about $2.75/$3.00 per barrel below WTI for delivery to California or Washington state, because of the higher cost of shipping to Hawaii. Crude values have been weakening on the U.S. West Coast recently because of high levels of crude oil and refined products inventories and deteriorating refining margins. Data from the American Petroleum Institute (API) shows that refinery utilization in the PADD 5 region of the western United States slipped to 92.3 percent last week from 95 percent. PADD 5 crude oil inventories rose by some 400,000 barrels to 55.6 million barrels last week and were some 2.2 million barrels higher than at the same time last year. - (Reuters)
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Russian Navy Take Over Crimea Combat Dolphins

The combat dolphin program in the Crimean city of Sevastopol will be preserved and redirected towards the interests of the Russian Navy, according to a report by official news agency RIA Novosti.

Transas to Participate in ETC-2014

Transas will take part in the ETC-2014 – The second International Forum on Seafarers’ Education, Training and Crewing. The Forum which consists of the Conference

World Petroleum Congress to be held in Moscow

Deputy Prime Minister of the Russian Federation, Arkady Dvorkovich, has confirmed that the 21st World Petroleum Congress will be held in Moscow from 15 – 19 June 2014.

Energy

Sakhalin Energy, Sovcomflot Order Newbuild

The companies have signed a number of agreements for construction and long-term operation of the vessels for Sakhalin-2 project. At an official ceremony in Moscow,

BP to Outline Enhanced Oil Recovery

Euan Duncan, Discipline Lead Reservoir Engineer at BP, will address SPE Aberdeen’s members and the wider public on April 23, at a presentation covering how EOR

BP Spill Compensation Battles Rage On

BP pays billions in compensation but some claims still unpaid; Oil still appearing on beaches in Gulf of Mexico. Company says claims process is flawed, not all oil from spill.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1228 sec (8 req/sec)