19 March 2013 21:28 [Source: ICIS news]
SAN ANTONIO (ICIS)--Exports of oil and gasoline out of the US Gulf coast should move past the Atlantic Basin and into Asia in order to take advantage of moving greater volumes, an industry analyst said on Tuesday.
The advantaged feedstock position of Gulf coast refiners “dramatically increases their competitive position relative to international peers”, Alan Gelder of Wood Mackenzie said during the American Fuel & Petrochemical Manufacturers (AFPM) annual meeting.
Gelder said the Asian market is a preferred target via the forthcoming Panama Canal expansion because it has a wide diversity of product quality specifications and trade balances.
What is needed in the market is export infrastructure for long-haul trading in order to place the volumes.
Therefore, storage, blending and access to deepwater locations are required, Gelder said.
The AFPM annual meeting runs through Tuesday.
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