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California-blend gasoline in San Francisco advanced to a six-week high against futures after ConocoPhillips (COP) said the Rodeo refinery in Northern California is conducting planned maintenance.
The 128,000-barrel-a-day Rodeo refinery, north of San Francisco, was scheduled to shut the hydrocracker for six to eight weeks of work, two people with direct knowledge of the schedule said March 15.
California-blend, or Carbob, gasoline in San Francisco rose 5 cents to a premium of 16 cents a gallon versus gasoline futures traded on the New York Mercantile Exchange, according to data compiled by Bloomberg. That’s the highest level for the fuel in the Bay since March 7.
“Planned maintenance work is currently under way” at Conoco’s San Francisco complex, consisting of the Rodeo refinery and a plant in Arroyo Grande, California, that upgrades feedstock for Rodeo, Rich Johnson, a Conoco spokesman at the company’s headquarters in Houston, said in an e-mail late yesterday. He declined to say what units are involved.
Los Angeles Carbob rose 3.5 cents to 13 cents a gallon above gasoline futures, the highest since March 12.
Conoco’s 139,000-barrel-a-day Los Angeles refinery is conducting a maintenance turnaround on the cogeneration plant and performing a catalyst regeneration on a unifier and hydrotreater unit, a person with direct knowledge of the work said yesterday. The work is expected to last about two weeks, the person said.
Johnson said the plant is performing planned maintenance. He declined to say which units are involved or the duration of the work.
California-blend, or CARB, diesel in Los Angeles rose 2 cents to a premium of 8.5 cents a gallon versus Nymex heating oil futures. The same fuel in San Francisco jumped 3 cents to a 12-cent premium.
Conventional, 87-octane gasoline in Portland, Oregon, a benchmark for the U.S. Northwest, rose 1.5 cents to 6.75 cents a gallon above gasoline futures. Low-sulfur diesel there advanced 1.75 cents to a 19.25-cent premium to heating oil futures.
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