Fuel Oil News

Fuel Oil News December 2015

The home heating oil industry has a long and proud history, and Fuel Oil News has been there supporting it since 1935. It is an industry that has faced many challenges during that time. In its 77th year, Fuel Oil News is doing more than just holding

Issue link: https://read.dmtmag.com/i/605088

Contents of this Issue

Navigation

Page 11 of 51

FUELS EIA N E W S 12 DECEMBER 2015 | FUEL OIL NEWS | www.fueloilnews.com REGISTER NOW FOR THE NATIONAL BIODIESEL CONFERENCE & EXPO Registration is now open for the 2016 National Biodiesel Conference & Expo (January 25-28) in Tampa, Fla. This event is a can't-miss in the world of biodiesel. The conference features networking and edu- cational opportunities that aren't available anywhere else. Register at www.BiodieselConference.org. TANK UTILITY WINS CLEANTECH COMPETITION Tank Utility, a leading provider of metering software and infrastructure for delivered fuels, won the Northeast Regional Finals for the Cleantech Open. Cleantech Open is the largest accelera- tor of clean tech startups. Tank Utility's win was decided Monday night and carries with it a prize of $15,000 in cash and additional in-kind support. Also, as a regional winner, Tank Utility will advance to the Global Cleantech Forum in San Francisco November 17-19, gaining worldwide recognition and com- peting for $200,000 in cash. The Northeast Regional Finals competi- tion included pitches from more than 30 regional contestants, culminating with the judges choosing eight finalists to give 10 minute pitches for the final decision. The judges evaluated the contestants based on their ability to succeed as a scal- able business as well as their ability to create a more environmentally sustainable economy. They were persuaded that Tank Utility has found a viable business model to address an acute market need. Tank Utility pitched a value propo- sition for smart metering and software technology in the delivered fuels indus- try. The evidence presented stated that creating an industry standard of tank level monitoring will earn money for fuel suppliers and cut carbon emissions by avoiding unnecessary fuel deliveries. Tank Utility's mobile apps improve the sentiment of fuel consumers toward their suppliers, increasing customer retention and lifetime value. Principal contributor: Rebecca George EIA: High Distillate Fuel Oil Inventories in Central Atlantic Weighing on Distillate Spot Price Stocks of distillate fuel oil in the Central Atlantic, which encompasses the New York Harbor region, have risen nearly every week since April, reaching 36.9 mil- lion barrels as of October 30. This level is 9 million barrels above the five-year average and 14.6 million barrels above the same time last year. The relatively high levels of distillate inventories are depressing distillate prices in the New York Harbor spot market. O v e r t h e p a s t f e w y e a r s , t h e need for distillate inventories in the Central Atlantic Region (Petroleum Administration for Defense District or PADD 1B) has decreased because of the gradual decline in the demand for heating oil, the aggregation of high, low, and ultra-low sulfur specifications into just high and ultra-low sulfur distil- late, and the ability to import distillate Source: U.S. Energy Information Administration, Weekly Petroleum Status Report Source: Bloomberg L.P., CME Group

Articles in this issue

Links on this page

Archives of this issue

view archives of Fuel Oil News - Fuel Oil News December 2015