Refiner Cuts Costs, Offers Buyouts as Ethanol Credits Rise
by Barbara J Powell (Bloomberg) … RINS aren’t the real problem for the Philadelphia refinery, Robert Campbell, head of oil products research for London-based Energy Aspects, said in a telephone interview today.
“East Coast refiners are not particularly competitive in this low-margin environment for refining because there is no advantaged crude for them anymore,” Campbell said. “U.S. production is down and there is more infrastructure to move the stuff from the Bakken to the Gulf Coast instead of the East Coast.”
Philadelphia Energy Solutions is a joint venture of The Carlyle Group and Sunoco, a unit of Energy Transfer Partners LP. READ MORE