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Stillwater Associates LLC Newsletter

October 2015
In the October edition of the Newsletter we offer the latest update to the Bubble Map Blog, and we reflect on PBF's acquisition of the ExxonMobil Torrance Refinery. Next, we discuss our contribution to EIA's PADD 5 Transportation Fuels Report. This report does a great job of explaining the unique supply and demand issues on the West Coast. In company news, our big announcement this month is our new General Manager, Rob Jaques. We're excited to have him on board! Finally, Stillwater Associates has a new phone number. If you need to reach any of our associates call 888-643-0197.
Bubble Map Update: Torrance Refinery Troubles Lead to SJVH Discount


The October Bubble Map shows WTI holding steady at $46 since our last blog in August. The WTI/Brent differential has narrowed to $2 over WTI. The Bakken discount has also narrowed to $4 under WTI. The Western Canadian Select discount has widened to $15 under WTI. On the Gulf Coast, crude oil from the shale formations in Texas like Eagle Ford were priced at parity with WTI and Louisiana Light Sweet was $2 over WTI. On the West Coast, the Alaska North Slope differential was $5 over WTI. The really interesting phenomenon is, for the first time in Bubble Map history, the San Joaquin Valley Heavy (SJVH) discount is greater than the Bakken discount. SJVH was priced at $5 under WTI on October 15th, probably due to the continuing problems at the ExxonMobil (XOM) Torrance refinery.

Stillwater Provides Research and Analysis to EIA PADD5 Transportation Fuels Report

On September 30th, EIA released the PADD 5 Transportation Fuels Markets report, the first in a series of studies on U.S. regional fuels markets. Stillwater was privileged to provide our expertise for this study which examines U.S. West Coast petroleum product markets. Our research and analysis for this report covers:
  • Demand, including in-region consumption, transfers of fuels to other PADDs and other regions within PADD 5.
  • Supply, including refinery production, receipts of fuels produced in other PADDs and other regions within PADD 5, and imports.
  • Distribution infrastructure, including storage terminals, pipelines, rail facilities, marine loading and unloading facilities, and marine vessel availability.

Introducing Stillwater's new General Manager, Rob Jaques

We're very pleased to announce that Rob Jaques has joined Stillwater Associates as our new General Manager. Rob has worked with us as a consultant and associate, but this month he begins this full time leadership position. 

Rob has more than 20 years of experience that began in gas plants on the Alaska Highway and includes oilfields in South America, oil refineries in India and the Texas Gulf Coast, and Canada's heavy oil industry. He has led improvement projects in asset management and safety, as well as procurement and supply chain. His consulting career has also included safety improvements in Transit and Healthcare.

Adding a General Manager to our roster is part of our ongoing growth strategy. We are happy to have found such an energetic, experienced and good-humored person to help us fulfill our goals.
We Have a New Phone Number!

888-643-0197

Give us a call if you have questions about transportation fuels markets. 
Our experts are available to help.
Stillwater Associates is a transportation energy consulting firm. We help our clients understand how fuels get from the source to the service station. If your company is in need of expert advice, please let us know.

Sincerely,

David J. Hackett, President
Stillwater Associates LLC