National Petroleum News (NPN) has been the independent voice of the petroleum industry since 1909 as the opposition to Rockefeller’s Standard Oil. So, motor fuels marketing and retail is not just a sideline for us, it’s our core competency.
Issue link: https://read.dmtmag.com/i/38448
TOP OF THE NEWS Could the end be in sight for ORVR? Proposed waiver of Service stations’ Stage II vapor recovery systems is widespread use of onboard refueling vapor recovery for capturing gasoline vapor emissions when gasoline-powered vehicles are refueled. The Clean Air Act allows EPA to waive certain require- O ments of the Stage II vapor recovery program, which is a vapor recovery system that prevents the discharge to the atmosphere of gasoline vapors displaced during the dis- pensing of gasoline into a motor vehicle fuel tank at service stations, when the EPA administrator finds that ORVR sys- tems are in widespread use in the vehicle fleet. This action proposes to establish June 30, 2013, as the date by which the administrator determines that ORVR is in widespread use. An estimated 72 percent of vehicles on the road are expected to have ORVR by that date. This action also proposes that certain requirements for Stage II gasoline vapor recovery at service stations n Marathon split final Marathon Oil Corp. completed the spin- off of Marathon Petroleum Corp. on July 1, making Marathon Oil an inde- pendent upstream company. Marathon Oil has a strong and geographically diverse portfolio of assets leveraged to crude oil production. The company will continue to be based in Houston. “This is an exciting day and a major milestone in the nearly 125-year history of Marathon Oil Corp.,” said Clarence P. Cazalot Jr., Marathon Oil’s chair- man, president and CEO. “As an inde- pendent upstream company, we have the capacity to perform at a higher level by focusing on strategic priori- ties while providing greater transpar- ency for investors. Operationally, we’re poised to capitalize on a broad base of opportunities by exhibiting the speed, agility and flexibility of an indepen- dent and retaining our proven ability to accomplish large and technologi- cally challenging projects. What isn’t going to change is our focus on long- held core values of health and safety, environmental stewardship, honesty and integrity, corporate citizenship 6 JULY/AUGUST 2011 n July 8, 2011, the U.S. Environmental Protection Agency proposed criteria for determining that there are waived as of June 30, 2013. This proposed waiver will allow many areas now requiring Stage II equipment at service stations to remove, or decommission, their Stage II systems. EPA regards Stage II vapor recovery system decommis- sioning to involve equipment replacement and elimina- tion of certain expenses associated with operating Stage II systems. EPA has estimated the national cost savings for facilities decommissioning Stage II vapor recovery systems based on this proposed rule to be over $88 mil- lion annually. This proposed rulemaking accomplishes the objec- tives of the Obama administration’s initiative to review outdated rules and update them to ensure that they are still achieving the environmental benefits that they were intended to achieve. EPA will accept comment on the proposal for 60 days after publication in the Federal Register. and a high performance team culture. Together, these attributes create the foundation for a strong, competitive company with a goal of continuing to deliver long-term value growth for our shareholders.” With this change and effective July 1, Cazalot becomes chairman of the board of Marathon Oil Corp. in addition to his responsibilities as president and CEO. Additionally, David E. Roberts Jr. takes on the newly established role of executive vice president and chief operating officer. Janet F. Clark will continue in her role as executive vice president and chief financial officer. Also effective July 1, Marathon Oil has adopted a new corporate logo - an abstracted tri-color wave - that sym- bolizes the momentum resulting from its exploration and production activity as well as the drive and innovation of the company’s employees. Downstream, Marathon Petroleum Corp. headquartered in Findlay, Ohio, operates as the fifth largest crude oil refiner in the U.S. and the larg- est in the Midwest. Marathon brand gasoline is sold through 5,100 inde- pendently owned locations across 18 states. In addition, Speedway LLC, a MPC subsidiary company, features industry-leading retail operations as the nation’s fourth largest owned and operated convenience store chain with approximately 1,350 locations in seven states. MPC’s fully integrated strategy provides operational flexibility to move crude oil, feedstocks and petroleum- related products efficiently through the company’s distribution system with approximately 4,500 miles of pipeline and 83 terminals. The transaction that created Marathon Petroleum Corp. was first announced in January and approved by the Marathon Oil board of directors in May. “The benefits of independence have become increasingly apparent and establishing Marathon Petroleum as a stand-alone energy company, with enhanced flexibility to pursue tailored strategies, will drive long-term value for our shareholders and customers alike,” explained Gary R. Heminger, president and chief executive officer of MPC. “Each of our business segments is a top performer. With a fully integrated NPN Magazine n www.npnweb.com