PAPCO News and Events
Click on date for full story or visit PAPCOnews for weekly market updates.
January 12, 2017: Scott Effinger, Southeast Government and Fleet Card Business Unit Manager for PAPCO offers insight to readers of Work Truck cover story titled: Effectively Managing Fuel in Truck Fleets.
June 23, 2016: PAPCO signs an agreement to be acquired by World Fuel Services, further strengthening commercial and industrial fuel supply distribution capabilities.
February 22, 2016: Ongoing Fuel Market Reports are available by email as well as from our daily blog located at www.PAPCOnews.com. Written each weekday from our Supply & Tradingteam, FUEL MARKET DAILY delivers the latest fuel price settlements, along with key insights and expert analysis on the impact global and national events have on relevant fuel pricing and supply.
December 31, 2015: State Fuel Tax Changes within PAPCO Service Areas go in to effect January 1, 2016. Download PDF table of changes per state in PAPCO service area
November 27, 2015: Mid Week Price Action Light yet Noticeable. The pre holiday Wednesday was a light day in the market, as many participants were leaving early for the holiday. Despite this, there was still noticeable price action in the futures market. Early Wednesday saw a break in the upward momentum crude oil and product futures have been riding the past couple days. [read more]
November 18, 2015: Honored as one of Hampton Roads' Roaring 20 - PAPCO was recently named by Inside Business as one of “Hampton Roads’ Roaring 20 Companies.” Recognizing 20 of the region’s most dynamic and fastest growing businesses, this annual award is based on revenue and employee growth, as well as on the significant contributions the companies make to the local economy and beyond. The announcement also appeared online in the November 2015 edition of Fuel Marketers News.
July 18, 2015: VIDEO - as seen on FOX Business Network - PAPCO VP Eric Rosenfeldt in an internview with Talk Business 360 discusses the innovative nature of Fuel Marketing at PAPCO and the unique structure of our Supply & Trading desk within the regional oil supply chain.
July 7, 2015: The Big “Now What?” – Ripple Effects of Geopolitical Rest Here at Home. In a surprisingly conclusive (61.3%) decision, the Greeks voted “No” on Sunday’s referendum, thereby rejecting proposed austerity measures put forth by its creditors. In an equally if not more shocking move, then Greek Finance Minister Yanis Varoufakis resigned ... [read more]
June 30, 2012: Debt & Deadlines Threaten Fuel Markets. Today marks the deadline for Greece to make a €1.6 billion repayment to the International Monetary Fund (IMF). The Greek government decided to implement capital controls on its banks by keeping them and the Greek stock market closed Monday. [read more]
June 23, 2015: Some Markets Drier Thank Chambers Bay's Greens. PADD III (Gulf Coast) refining crude throughput was down for the reported week. Collectively, though, the area operationally remains above 95% capacity. [read more]
June 16, 2015: Is No News Really Good News in the Fuel Markets this Week? Or are we just getting "flat happy?" Despite severe price volatility within any given day lately, petroleum prices have generally remained rangebound for several weeks, with flat price for crude oil and finished products staying within a fairly limited trading area. [read more]
June 9, 2015: OPEC Crude Quota Conundrum; Iran on Deck. To the surprise of few in the industry, the OPEC cartel agreed to maintain current production levels with the continued request that its members adhere to their self-imposed collective production quotas. In recent months Saudi Arabia has increased its own production significantly and continues to account for nearly a third of OPEC's total supply. [read more]
June 2, 2015: EPA Targets Set: The RIN-convenient Truth. Last Friday (May 29th), the EPA released its proposed 2014-2016 Renewable Fuel Standard (RFS2) targets ahead of the June 1st deadline. Many in the industry believed the EPA would again defer a decision on these targets in order to gather more necessary information. The newly proposed targets include reductions in the requirements of renewable fuel ... [read more]
May 2015: Supply Chain Digital, Exploration World, and Business Review USA. PAPCO expertise in Supply & Trading is featured in 3 different online publications. [read article]
May 19, 2015: Could the US be the Surprise Swing Vote? OPEC, primarily Saudi Arabia, has reluctantly filled the role of “swing producer” since the early 1980’s. However, over the last six to seven months, "the Kingdom" has become quite vocal stating that they will not bear the burden of being the sole swing producer of crude oil anymore. [read more]
May 12, 2015: Let's Make a Deal. PADD I, II, or III? As the fuel glut starts to move, where it all goes is a very good question. Plus, last week could be classified as a Maxwell Smart moment for Natural Gas analysts. [read more]
Spring 2015: Wholesale & Distribution International. A leading industry magazine designed to keep policy-makers up-to-date on the latest trends and challenges in distribution and wholesaling, features the distribution capabilities and price risk management solutions PAPCO offers customers throughout the Eastern United States. [read more]
April 28, 2015: Keep your eye on the price of crude. Weekly U.S. production of crude declined for the second week in a row. For the week ending April 17th week-over-week production was down 18 Mbpd (Thousand barrels per day). Marginal at best the production declines are barely visible on trend graphs ... [read more]
April 21, 2015: Energy Markets Seek Balance on Complicated Tightrope. A continued increase in crude runs assumes that refiners can get the correct crude oil grades to run in their refineries and certainly assumes that there will be no refinery hiccups and they can run at high rates for an extended period of time. [read more]
April 14, 2015: Leaks, Peaks, and Hiccups. Another Week in the US Fuel Market. IMPACT ALERT - The Colonial Group (owning entity of the Colonial Pipeline) sent out a bulletin to its shipping partners, that Line 2 (distillate line) was shutdown at 2pm on Sunday April 12th for an “integrity issue.” Indications are a breach occurred in Laurens County, SC and they are currently working to address and correct the situation. Current reports are for downtime to last a day or two, potentially pushing back delivery dates and causing shortages in some markets along the east coast. NOTE: The Supply & Trading team at PAPCO is closely monitoring the situation and will alert you should any significant supply disruptions occur.
April 7, 2015: Weather's Not the Only Thing Building in the Fuel Market. Thursday April 2nd, Iran and the P5+1 (China, Russia, France, the U.S., England, and Germany) agreed to a preliminary framework for a nuclear deal. Since publicly announcing “the agreement of the promise of a deal,” conflicting reports have begun emerging as to the specifics of the agreed upon terms, particularly in the areas of substance and timing. [read more]
March 31, 2015: Markets Do the Backstroke in Excess Crude. Like many other parts of the world, the U.S. is swimming in crude. In last week’s DOE report, Total Commercial Crude ... [read more]
March 30, 2015: SIGMA-igm, a leading independent gasoline marketing magazine chronicles the growth and vision of PAPCO, Inc in the March/April 2015 issue.
March 23, 2015: Has the Crude Market Hedged Itself? Currently, we as a country sit at the highest level of total commercial crude in storage in the 33 years the Energy Information Administration (EIA) has been sending weekly US Department of Energy (DOE) report data.
March 16, 2015: Crude Stocks, OPEC, and Spring ... Oh, my. The bearish crude picture continued last week when the DOE report was released confirming a 4.512 MMbbls (million barrel) build, with a 42 Mbpd (thousand barrels per day) increase in production for the week of March 6, 2015.
March 9, 2015: Crude Capacity: Are we there yet? The macro petroleum picture this week is a mixed bag of goodies. Continued bearish crude builds, up against the tight supply of refined products (at various markets) fueling the bulls – are making for exciting times.
March 2, 2015: Crude Oil Rising. Last week the US Energy Information Administration (EIA) reported another large build in crude oil inventories of 8.4 million barrels, putting total crude oil inventory at 434 million barrels. [read more]
February 23, 2015: Perfect Storm Hits Impressionable Financial Markets. Glut of crude, refinery strikes & outages compound weather issues made for a tough week in the fuel market. [read more]
February 17, 2015: Snap. Cold Hard Facts Facing the Fuel Market this week. Crude inventories rise to highest level (for this time of year) in 80 years [read more]
February 2, 2015: Supply, Demand, & Striking Consequences. On Sunday, February 01, 2015 the United Steelworkers union called on its members to strike since they couldn’t come to terms after negotiations with a group of oil companies. While the picketers will be outside of the refineries, it is unlikely that there will be a material impact on supply. [read more]
January 26, 2015: Winter Storm Impact on East Coast Fuel Supply and Logistics. This situation certainly stresses the logistics of the fuel industry. The traditional means of transporting product in this region are barges, trucks, and rail as well as the Buckeye Partners LP pipeline system – all difficult to operate in feet of snow (some more than others). [read more]
January 20, 2015: Financial Influences on the Oil Market. U.S. Petroleum Report showed crude oil production in the United States hitting another multi-decade high of 9.192 million barrels per day ... [read more]
January 12, 2015: Balancing the Benefits of Cheap Crude. Refinery issues and talks of refiners moving planned maintenance forward in their respective schedules resulted in basis values going higher in most physical refined product markets this past week ... [read more]
December 31, 2014: State Fuel Tax Changes within PAPCO Service Areas go in to effect January 1, 2015. Download PDF table of changes per state in PAPCO service area
December 23, 2014: Near Record Crude Runs, Year End Destocking Continue to Pressure Gulf Coast Basis. Energy prices within the crude complex finished on a weaker note once again this past week. Middle East OPEC members dropping official selling prices (OSPs) to multi-year lows in a push to maintain production and market share are keeping crude prices under pressure and continue to drop product prices with them.
December 15, 2015: Distillate Stocks Grow Again, Gulf Coast Basis Crushed. Crude oil continues to lead the energy complex lower this week as down remains the path of least resistance with Kuwait and UAE recently chiming in that lower price levels can be sustained in the short to medium run. Prices are now considerably lower year over year with little upside in sight other than some potential profit taking ahead of the end of the year. (read more)
December 10, 2014: PAPCO recognized as Superior Supplier by Defense Logisitics Agency (DLA) as part of the Department of Defense's Superior Supplier Incentive Program. "Given DLA's mission to support our warfighters around the world, it's important to recognize those companies with proven track records for superior performance in government contracting," said Matthew Beebe, head of DLA's acquisition directorate. (read more)
December 1, 2014: OPEC Maintains Production Quota, Futures Markets Plummet. The Organization of Petroleum Exporting Countries (OPEC) sent what appeared to be a loud and clear message this past Thanksgiving by opting to leave its production quotas unchanged at 30 million bpd (barrels per day). Futures markets reacted with a strong push lower on the Friday following the American holiday. Details in this week's fuel market report from PAPCO Supply and Trading.
November 24, 2014: Clean Product Imports Remain Thin, Basis Volatility Continues. Energy prices were stable this past week as market participants struggled to find short-term direction. Most traders and analysts are waiting for further guidance and the outcome of the OPEC meeting in Vienna to see how large of a production cut they will announce on Thursday, November 27th, 2014. Read more in this week's fuel market report from PAPCO Supply and Trading.
November 17, 2014: Absolute Prices Weaker. East Coast Supply Issues Remain. Futures prices in the energy complex took a beating once again this week as flat price declined to multi-year lows as fund managers resumed liquidating their positions in commodities. The prompt RBOB gasoline contract traded below $2 per gallon for the first time since September 2010. Read more in this week's fuel market report from PAPCO Supply and Trading.
November 10, 2014: Polar Vortex 2.0 Futures prices dipped this past week, but settled well off the lows as time spreads at the front end of the curve strengthened, driving backwardation to considerably high levels. Regional supply and demand imbalance issues remain, but appear to be subsiding. Details in this week's fuel market report from PAPCO Trading and Supply.
November 7, 2014: BLOOMBERG.com - PAPCO VP Eric Rosenfeldt comments on the East Coast impact of the Artic Chill blasting the Midwest. (More details available in the November 10 issue of the PAPCO Weekly Fuel Market Report).
November 3, 2014: Midwest Supply Issues Just the Tip of the Iceberg? Read more in this week's Fuel Market Report from PAPCO Trading and Supply.
October 27, 2014: Midwest Continues to Bolster Physical Diesel & Gasoline Markets. This week's fuel market report from PAPCO Trading and Supply.
October 20, 2014: Crude Oil Prices Continue to Lead Downward Spiral. A weekly fuel market report from PAPCO Trading and Supply.
October 19, 2014: The Virginian Pilot - PAPCO VP Eric Rosenfeldt offers details on the good and the bad about fuel prices in Hampton Roads.
October 13, 2014: VIDEO / Citgo Fueling Good in VA Beach. The Citgo Fueling Good Team learned a lot about the importance of community during a recent visit to the Virginia Beach Neptune Festival.
October 13, 2014: Crude Oil Continues to Unravel as does Venezuela. This week's fuel market report from PAPCO Trading and Supply.
October 6, 2014: Distillate Inventories Still Tight on the East Coast. A weekly fuel market report from PAPCO Trading and Supply.
September 29, 2014: Throwing Gasoling on the Fire - Part 2. This week's fuel market report from PAPCO Trading and Supply.
September 22, 2014: Throwing Gasoline on the Fire. This week's fuel market report from PAPCO Trading and Supply.
September 15, 2014: Refined Product Prices Continue to Slide. A weekly fuel market report from PAPCO Trading & Supply.
September 8, 2014: Jet Fuel Continues to Create Issues. This week's fuel market report from PAPCO Trading & Supply.
September 1, 2014: Product Inventories Still Tight. This week's fuel market news from PAPCO Trading and Supply.
August 26, 2014: Fall Supply Risk in Refined Products Elevating. This week's fuel market news from PAPCO Trading and Supply.
August 22, 2014: Great Pricing on Home Heating Oil through our Capped Price Protection Program. Enrollment offer available now through October 31, 2014. Download Flyer.
August 18, 2014: Cushing Crude Oil Inventories Still Under Pressure. The latest commercial fuel market news from PAPCO Trading & Supply.
August 11, 2014: Ebola & Oil Exports. A Weekly Fuel Market Update from PAPCO Trading and Supply.
August 4, 2014: WTI Crude-Led Rally Fades. The latest fuel market news from PAPCO Trading and Supply.
July 21, 2014: Crude Bounces, Product Margins Squeezed. The latest fuel market report from PAPCO Trading and Supply.
July 14, 2014: Diesel Inventories Grind Higher. This week's fuel market report from PAPCO Trading and Supply.
July 7, 2014: Geopolitical Tensions Subside For Now. The latest fuel market news from PAPCO Trading and Supply.
July 1, 2014: Oil Market Risks Mounting. The latest fuel market news from PAPCO Trading and Supply.
June 27, 2014: Peter Ryan Elected Virginia State Director to the National Propane Gas Association.
June 23, 2014: Diesel Inventories Trending Higher. Read more in this week's commercial fuel market report from PAPCO Trading and Supply.
June 16, 2014: Iraq: Back Front & Center. Read this week's commercial fuel market news from PAPCO Trading and Supply.
June 2, 2014: Cushing Approaching 2008 Levels; Marathon Garyville Impact. Read the latest commercial fuel market news from PAPCO Trading and Supply.
May 27, 2014: Diesel Exports Still Strong. East Coast Inventories Capped. The latest fuel market news from the PAPCO Trading and Supply Team.
May 19, 2014: PAPCO announce delivery of new unique bulk and packaged truck that allows delivery on the same day to the same customer.
May 12, 2014: Domestic Finished Refined Product and Natural Gas Inventories Still Low. The Latest issue of the Fuel Market Report from the PAPCO Trading & Supply team.
April 21, 2014: PAPCO Pledges $50,000 Gift for the completion of the Chesapeake Bay Foundation's Brock Environmental Center.
March 25, 2014: PAPCO and the Norfolk Admirals join forces in the 2014 MDA Jersey Auction and raise more than $67,000 for the Muscular Dystrophy Association (MDA).
SPRING 2014: Supply Chain World- PAPCO is featured in the latest issue of Supply Chain World Magazine, a leading international business publication that profiles best practices from leading companies involved in supply chain management.
March 5, 2014 CHKD Kidstuff Magazine - PAPCO VP of finance and operations, Beth Johnson is featured in the latest issue of CHKD’s KidStuff Magazine for her role as president of The King's Daughters. Beth leads more than 1,000 women in efforts to raise funds and awareness for CHKD the regional children’s hospital in Norfolk, VA.
January 30, 2014: Fueling Education - On Tuesday, Jan. 7, PAPCO in partnership with CITGO Petroleum Corporation presented Janay Washington, a third-grade teacher at Park View Elementary School in Portsmouth, VA with $1,000 worth of school supplies as part of the CITGO Fueling Education Promotion. Washington was one of 109 teachers from elementary, middle and high schools within the CITGO marketing footprint who won customized school supplies that address the specific needs of their students and classroom.
October 1, 2013: Convenience Store Decisions - PAPCO Expands in the Mid-Atlantic: An acquisition of the Tidewater retail assets of SMO Inc. boosts PAPCO’s store count in southeastern Virginia.
September 12, 2013 - PAPCO Purchases Assets and Supply Contracts in Southeastern Virginia from the Wills Group, Inc. (SMO, Inc.).
October 2, 2012 - PAPCO Purchases Commercial and Governmental Fuels Division of ISObunkers.
January - February 2012 - Government Engineering Magazine. Transcube diesel tanks enhance environmental compliance on pier side job (link no longer available)