Monday, May 7, 2012

Alaska oil boomerangs

Petroleum News
By Wesley Loy

Normally Alaska North Slope crude oil flows one way — south, toward refineries on the West Coast.

In recent weeks, however, something odd has happened. Tankers have returned to the terminal at Valdez still partially laden with Alaska oil. Usually, the tankers come back empty.

So what’s behind this curious trend?

It appears to be a mix of oil inventory management decisions, cost considerations and reduced capacity at some West Coast refineries.

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