US energy chief calls for NPC refinery capacity study by Sep 30

US energy chief calls for NPC refinery capacity study by Sep 30

Washington (Platts)--22Jun2004


US Energy Secretary Spencer Abraham Tuesday formally requested the National
Petroleum Council conduct separate studies of American refining capacity and
issues related to the nation's petroleum inventory levels. He asked for the
studies to be completed by Sep 30.

"I understand that this is a tight timeframe, but it is my hope this
information can be put to use by the end of the year in a way that will bring
greater long-term stability to petroleum markets and a greater degree of
certainty to American consumers," Abraham told NPC's 113th meeting. Abraham
said the refining study should identify US future demand for refined products,
domestic capacity to meet future needs, the barriers to meeting future demand
and the capital factors that will drive supply growth. The US has not seen a
refinery built since 1976, Abraham said, and "more recently, even refinery
expansion has been slow."

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