Here is update on Garyville completing (was ~98% at last update in November). The refinery now @ 435MBD is US new #4 largest refinery edging out Citgo LCharles & others….for now (will be more 600MBD expansions completing). The new 44MBD coker now raises total coker charge for both units will be ~82MBD (or estimated 1.7 million mtpy).
Most of previous petcoke production has gone from refinery conveyor loaded barges direct to WKE’s Wabash Petcoke Gasification unit on Mississippi River and some other sales but the volume just doubled. MAP has been a long term petcoke marketer and so even at 6%S most of the petcoke is likely placed rumor for 2010 has 800 kmtpy to FPL Tampa, TECO & Cleco combined.
But the new Garyville capacity now becomes part of the growing overhang of 6%S fuel cokes and the increasing differential between coking production and capacity – which can flood the market whenever utilization rates climb out of the cellar & idled/shutdown/closed coking refineries come back – enough sour crude availability & price returns to even 5 year minimum averages and refinery margins drift back to 5 year minimums as well.
Regards
