Gulf Gasoline Gains With Motiva Refinery Start Delayed by Week
The 255,000-barrel-a-day plant has been hampered by floodwaters and mechanical issues that prevented the fluid catalytic cracker from being restarted, according to two people familiar with operations. The refinery shut Aug. 28 in advance of Hurricane Isaac.
The premium for conventional, 87-octane gasoline in the Gulf Coast rose 1 cent to 12.25 cents a gallon versus futures traded on the New York Mercantile Exchange at 3:55 p.m. New York time, according to data compiled by Bloomberg. Prompt delivery rose 1.54 cents to $3.1486 a gallon.
Motiva expects to return its Norco, Louisiana, refinery to normal operating rates by Sept. 15, according to two people familiar with the plant’s operation. The 250,000-barrel-a-day refinery, shut Aug. 30, is increasing production, they said.
Petroleos de Venezuela SA said a flexicoker at its Amuay refinery began to process 33,000 barrels a day after the plant’s main units were taken offline because of an Aug. 25 explosion.
Amuay is processing 264,000 barrels of crude a day out of a capacity of 645,000 barrels and is bringing other units online gradually, PDVSA said today in an e-mailed statement.
Conventional 87-octane gasoline in New York Harbor rose 5 cents to a premium of 41 cents a gallon versus futures, the widest since Sept. 16, 2008.
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