Bloomberg News

California Gasoline Gains on Repairs at Exxon Torrance Refinery

November 05, 2012

Spot gasoline in California advanced to a one-week high against futures after Exxon Mobil Corp. (XOM:US) said the Torrance oil refinery is performing repairs on a unit.

The planned maintenance may cause the 150,000-barrel-a-day plant, south of Los Angeles, to flare gases through Nov. 12, a notice to the South Coast Air Quality Management District shows. Gesuina Paras, an Exxon spokeswoman in Torrance, didn’t specify in an e-mailed statement which unit is undergoing work.

“The refinery continues to operate normally,” she said. “There is no impact to production.”

Spot California-blend gasoline, or Carbob, in Los Angeles rose 4.5 cents to a premium of 12.5 cents a gallon against gasoline futures traded on the New York Mercantile Exchange at 1:46 p.m. East Coast time, according to data compiled by Bloomberg. That’s the highest level for the fuel since Oct. 29.

Carbob in San Francisco climbed 4 cents to 0.5 cent a gallon above futures, also the fuel’s highest since Oct. 29.

Air Products & Chemicals Inc. (APD:US)’s hydrogen plant in Carson, California, is scheduled to flare through tomorrow because of a breakdown, a notice to the South Coast air district shows. The plant supplies hydrogen to refineries in the Los Angeles area.

Art George, a spokesman at Air Products’ headquarters in Allentown, Pennsylvania, didn’t immediately reply to an e-mail requesting comment on the upset.

California-grade, or CARB, diesel in Los Angeles declined 1.5 cents to a premium of 6 cents a gallon versus heating oil futures traded on the Nymex, a two-week low for the fuel. CARB diesel in San Francisco slipped 1.25 cents to 5.5 cents a gallon over futures.

Conventional 84 sub-octane gasoline to be blended with ethanol in Portland, Oregon, jumped 5.5 cents to 16 cents a gallon under gasoline futures. Low-sulfur diesel in Portland dropped 6 cents to 15 cents a gallon above heating oil futures.

To contact the reporter on this story: Lynn Doan in San Francisco at ldoan6@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • XOM
    (Exxon Mobil Corp)
    • $93.78 USD
    • -0.81
    • -0.86%
  • APD
    (Air Products & Chemicals Inc)
    • $148.58 USD
    • 0.00
    • 0.0%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus