Court rules that standard excessively restricts interstate commerce. Judge Lawrence J. O’Neill of the U.S. District Court for the Eastern District of California has issued a temporary injunction blocking the California low carbon fuels standard. This is welcome news to the California Independent Oil Marketers Association (CIOMA) who have described the standard as unjustifiable, costly…
Sunoco Reports Q2 Results
“Sunoco Logistics Partners L.P. had its best quarter ever and our logistics segment contributed $54 million to Sunoco’s earnings. Likewise, our retail segment also contributed strong earnings that approached a record for second quarter results,” says CEO. Sunoco Inc. has released its second quarter 2011 financial results, reporting a net loss attributable to Sunoco shareholders…
Hess Donates $1 Million To Aid Flood Relief
After flooding devastates parts of North Dakota, Hess provides funds to key organizations responsible for aiding and rebuilding the impacted areas. Hess Corp. has donated $1 million to North Dakota flood relief efforts. “We are deeply concerned about the people who are suffering from the devastation caused by the floods that have occurred in North…
Worries Over Economy Pressuring Oil Prices
Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs are again moving lower, pressured in early June by worry over economic growth highlighted by an increase in the U.S. unemployment rate in May. Poor results in manufacturing and housing detailed in recent data releases have also piled onto the heightening concern over the…
Fuel Prices Spur Uptick In Consumer Complaints
As gas prices increase, customers are paying more attention to the price at the pump and are quick to report concerns, the National Conference on Weights and Measures reports. As fuel prices rise, so do the number of consumer complaints at the gas pump, according to a recent survey of state weights and measures, where…
Gas Prices Soar Almost 34 Cents In 13 Days
California, which has the highest gas prices in the nation, has reached $3.89 for a gallon of gas. Gas prices continue to climb upward, spurred higher due to the turmoil in Libya, with crude oil prices moving above $106 per barrel in overnight trading, marking a two-and-a-half year high. The national average price for a…
Sunoco Completes Toledo Refinery Sale
Sunoco’s existing retail marketing and logistics operations in Ohio and neighboring states are not impacted by the sale. Sunoco Inc. has completed the previously announced sale of its refinery in Toledo, Ohio to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Co. LLC for approximately $400 million (consisting of $200 million in…
Wholesale Gasoline Costs Surge on Fed’s Quantitative Easing
Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were pumped higher by a sharp advance in New York Mercantile Exchange oil futures during the first week of November, with crude values spiking to a better than two-year high after the Federal Reserve announced a monetary policy aimed at spurring economic growth. NYMEX…
Wholesale Gasoline Costs Tumble with Pipeline Restart
By Brian L. Milne, Refined Fuels Editor, Telvent DTN A relatively quick return, just over a week, in pipeline deliveries on Energy Partners, L.P.’s Lakehead system after it was shut on Sept. 9 due to a leak pressured wholesale gasoline costs through today, especially in the Midwest. Enbridge was forced to shut a key pipeline…
United Refining Reduces Crude Processing
United Refining Co. has temporarily reduced its Warren, Pa., crude processing until a crude line operated by Enbridge’s Lakehead System in Kalamazoo, Mich., can be repaired. On July 26, a leak was detected in the Line 6B pipeline on Enbridge’s Lakehead System in Michigan and was subsequently shut down. In response to the partial reduction…