Genscape's Proprietary Monitoring Technology Offers Transparency into Whiting Refinery Modernization Project Impacting Price of Canadian Crude

May 9, 2013, Louisville, KY – British Petroleum (BP) appears to be on track to restart the crude unit at its Whiting Refinery in June and to kick off its modernization project in the second half of this year, according to an analysis conducted by Genscape.

According to Genscape's monitoring and analysis, BP has completed work on some key units while it continues activity on several others. Genscape also detected preliminary furnace testing and low-flare activity on the 250,000 bpd Pipestill 12 CDU during a flight over the facility on April 29 and through infrared monitoring of the refinery.

BP began expanding the refinery in 2008 with the aim of increasing its ability to handle a heavier crude slate, and the entire Whiting Refinery Modernization Project appears to be on schedule for commissioning at some point during the second half of the year, according to Genscape's analysis.

Activity observed by Genscape during its aerial reconnaissance included:

Pipestill 12:

*Infrared images from May 5 indicated preliminary heating of the CDU furnaces.

*Caps veering the tops of the furnace stacks during construction had been removed.

*Connections to the new flare tower (South Flare) appeared to be complete.

*The large crane previously observed at the site had been removed, and nearly all visible safety equipment had been removed from the columns and furnaces, as had the old CDU and vacuum distillation unit (VDU) towers.

Coker (#2 Coker):

*Heavy work continued on many areas of the unit and infrastructure.

*Much of the safety equipment and scaffolding remained in place.

South Flare:

*Construction of the flare appeared complete.

*Infrared images indicated smoking from the flare beginning April 8.

Using a combination of infrared diagnostics, electromagnetic frequency monitors, high resolution aerial photography, and near-earth satellite imagery, Genscape provides advance notice of changes in oil market fundamentals.

Genscape's Refinery Operations Service provides traders with real-time operations disruptions and status changes. The MidContinent Pipeline Flows service monitors BP1 into Whiting and offers transparency into workings of the physical crude oil market in the center of the US all the way to Canada. To learn more or register for a free trial of either service, visit: http://info.genscape.com/oil-services-press.

About Genscape

Genscape is the leading global provider of energy information for commodity and financial markets. Utilizing patented technologies and proprietary algorithms, Genscape provides accurate & timely data on capacities, flow and utilization for all major energy commodities. With thousands of sophisticated energy monitors strategically deployed all over the world, Genscape is unique in its ability to measure and collect energy market fundamentals. These "measured actuals" are then transmitted to clients in real-time or near real-time. Genscape clients often gain first-mover advantage and increased market transparency to better optimize their positions. For more information, please visit: www.genscape.com