Refinery experiences flaring and power outage

  • Marathon Petroleum to start flaring at Los Angeles refinery on Jan. 24
  • Flaring scheduled due to start-up/shut down
  • Wilmington section of refinery offline after power outage
  • Investigation underway to determine cause of power outage
  • No bids or offers for January-delivered Los Angeles CARBOB
  • Los Angeles ULSD traded weaker than Monday’s assessed mean

Marathon Petroleum has scheduled flaring at its Los Angeles refinery starting on January 24th. The flaring is due to start-up/shut down operations. Additionally, the Wilmington section of the refinery is currently offline after a power outage, which led to the release of sulfur dioxide and flaring. An investigation is underway to determine the cause of the power outage. In trading, there were no bids or offers for January-delivered Los Angeles CARBOB, while Los Angeles ULSD traded weaker than Monday’s assessed mean.

Public Companies: Marathon Petroleum (Unknown)
Private Companies:
Key People:

Factuality Level: 7
Justification: The article provides specific details about the flaring incidents at Marathon Petroleum’s Los Angeles refinery, including the reasons for the flaring and the impact on spot refined product trading. The information is sourced from a company filing with the South Coast Air Quality Management District and OPIS. However, the article does not provide any additional context or analysis, and there is no response from the company included.

Noise Level: 3
Justification: The article provides specific information about flaring incidents at Marathon Petroleum’s Los Angeles refinery and the impact on spot refined product trading. It includes details about the reasons for the flaring and the investigation into the power outage. However, the article lacks in-depth analysis, scientific rigor, and actionable insights. It also includes some irrelevant information about the company’s response to a request for comment and the ownership of the content creator.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information about the flaring incidents at Marathon Petroleum’s Los Angeles refinery. This could potentially impact the prices and trading of refined products in the spot market.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the impact of flaring incidents on the trading of refined products in the spot market.

Reported publicly: www.marketwatch.com