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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 437.23+3.8%Jan 20 4:00 PM EST
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To: 2MAR$ who wrote (91744)6/21/2012 8:42:06 AM
From: elmatador  Read Replies (2) of 219578
 
U.S. Gulf Coast Crudes Plunge After Motiva Refinery Shutdown

Motiva, a joint venture between Saudi Arabian Oil Co. and Royal Dutch Shell Plc., will keep the 325,000-barrel-a-day unit closed to repair multiple deficiencies that surfaced during startup earlier this month, a person familiar with the plans said yesterday. The unit was part of a $10 billion expansion that made the Port Arthur refinery the largest in the U.S.
...
Demand for the largest oil tankers may also weaken as Motiva keeps the Port Arthur crude unit closed, according to Arctic Securities ASA. About 75 very large crude carriers were booked to haul Persian Gulf oil to the U.S. in the first 22 weeks of 2012, a 50 percent jump from 2011 and the highest count on record since 2007, according to the Oslo-based investment bank.

bloomberg.com
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