Gulf Gasoline Rises as Phillips 66 Extends Borger Refinery Work
Gasoline advanced in the Gulf Coast as Phillips 66 (PSX) extended maintenance at its Borger refinery in Texas and Motiva Enterprises LLC said it expects to start a crude unit at its Port Arthur plant in early December.
Phillips 66’s 146,000-barrel-a-day Borger refinery planned to shut two fluid catalytic cracking units for maintenance expected to last until today, the company said in a regulatory filing Sept. 24. The plant may start up this weekend, the company said.
The work has been delayed at least a week because repairs were more difficult than anticipated, according to a person with knowledge of the situation.
Motiva’s Port Arthur, Texas, facility, which has the capacity to process 600,000 barrels a day, expects to start a crude unit in early December, the company said today. The unit shut in early June after a small fire, according to people familiar with the situation.
Conventional 87-octane gasoline in the Gulf Coast strengthened 0.50 cent to a discount of 12.25 cents a gallon versus futures on the New York Mercantile Exchange at 1:59 p.m. Reformulated gasoline was unchanged at 11.50 cents under futures. Diesel fuel in the region gained 0.35 cent to 1.5 cents a gallon over heating oil futures.
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