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TheStreet Open House

Western Refining's CEO Presents At UBS Global Oil And Gas Conference (Transcript)

Stocks in this article: WNR

But still nonetheless if you look at the production estimates anywhere from a million barrels to some analysts have it close to 2 million barrels a day coming up in the Permian, there still isn’t enough takeaway capacity out there to takeaway all that crude, so we think these discounts will still be sustainable for some period of time. So that’s on the crude market that’s what's going on here. I’ll talk about a project we have going on to take advantage of this crude market to make sure we get some of this crude to El Paso, the refinery in El Paso.

But longer term the whole world is going to look different in terms of domestic crude production and we're right in the heart of it with El Paso and Gallup been located where they are. On the product side, it’s the same situation with El Paso and Gallup kind of being the gateway to the west for product distribution. So, if you look at all these product lines, again I apologize it's hard to see up on the screen but in your presentation you can look and see they are all these product lines that flow from the east to the west and most of them pass through El Paso.

And you look at our biggest markets, some of our growth markets El Paso, Mexico mainly what is the Mexico Phoenix and Tucson are pretty good markets and you heard me say earlier some of these markets particularly Phoenix and Tucson have a west coast pricing influence. So we are getting some perhaps product premium pricing for some of the markets that we do serve. We also serve the Four Corners area, Albuquerque Flagstaff are some of the major markets that we serve.

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