Termination of Royalty-in-Kind (RIK) Eligible Refiner Program, 15725 [2010-7032]

Download as PDF Federal Register / Vol. 75, No. 60 / Tuesday, March 30, 2010 / Notices 20005; or by fax, 202–371–6447. Written or faxed comments should be submitted by April 14, 2010. Before including your address, phone number, e-mail address, or other personal identifying information in your comment, you should be aware that your entire comment—including your personal identifying information—may be made publicly available at any time. While you can ask us in your comment to withhold your personal identifying information from public review, we cannot guarantee that we will be able to do so. J. Paul Loether, Chief, National Register of Historic Places/ National Historic Landmarks Program. Tallassee Falls Manufacturing Company, 1844 Old Mill Rd, Tallassee, 10000198 Jefferson County Tarrant City Downtown Historic District, Parts of E. Lake Blvd., Ford Ave., Jackson Blvd., Pinson St., Wharton Ave., Tarrant, 10000199 Madison County Lincoln Mill and Mill Village Historic District, Bounded by Meridian St., Oakwood Ave., Front St., Mountain View Dr., Davidson St., Cottage St., and King Ave., Huntsville, 10000200 ARIZONA Pima County Menlo Park Historic District, 13 Subdivisions irregularly bounded around Grande Ave. and W. Congress St. intersection, Tucson, 10000201 FLORIDA Palm Beach County Palm Beach Hotel, 235–251 Sunrise Ave., Palm Beach, 10000212 IOWA Marion County Peoples Nationals Bank, 717 Main St., Pella, 10000202 MISSOURI Grundy County Trenton High School, 1312 E. 9th St., Trenton, 10000203 jlentini on DSKJ8SOYB1PROD with NOTICES Jackson County Sherwood Manufacturing Company Building, (Lee’s Summit, Missouri MPS) 123 SE 3rd St., Lees’ Summit, 10000204 Saline County Sweet Springs Historic District Boundary Decrease, (Sweet Springs MPS) 200–217 W. Lexington Ave., and 211 Marshall St., Sweet Springs, 10000206 Jkt 220001 Harnett County Johnson Farm, 2095 Kipling Rd., (S side SR 1403, .2 mi E of SR 1425), Kipling, 10000207 Rowan County J.C. Price High School, 1300–1400 W. Bank St., Salisbury, 10000208 UTAH Salt Lake County Wells Historic District, Roughly bounded by 700 E., State St., 1300 S., and 2100 S., Salt Lake City, 10000210 Sauk County Man Mound Boundary Increase, Address Restricted (Late Woodland Stage in Archeological Region 8 MPS) Man Mound Road, Town of Greenfield, 10000211 Elmore County 16:22 Mar 29, 2010 NORTH CAROLINA WISCONSIN ALABAMA VerDate Nov<24>2008 St. Louis Independent City Sligo Iron Store Co. Buildings, 1301 N. Sixth St., St. Louis, 10000205 [FR Doc. 2010–7152 Filed 3–29–10; 8:45 am] BILLING CODE P DEPARTMENT OF THE INTERIOR Minerals Management Service [Docket No. MMS–2009–MRM–0014] Termination of Royalty-in-Kind (RIK) Eligible Refiner Program AGENCY: Minerals Management Service, Interior. ACTION: Advance notice for the termination of the RIK Eligible Refiner Program. SUMMARY: On behalf of the Secretary of the Interior (Secretary), the Minerals Management Service (MMS) has conducted a determination of need for the RIK Eligible Refiner Program under 30 CFR 208.4 and has concluded that a need for the program no longer exists. DATES: As a result of this determination, MMS will discontinue the sales of Federal royalty production to eligible refiners under the Eligible Refiner Program until further notice. FOR FURTHER INFORMATION CONTACT: Colin Bosworth, telephone (303) 231– 3186, FAX (303) 231–3846, or e-mail colin.bosworth@mms.gov. The regulations at 30 CFR 208.4(a) provide that the Secretary may evaluate crude oil market conditions from time to time. The evaluation will include, among other things, the availability of crude oil and the crude oil requirements of the Federal Government, primarily those requirements concerning matters of SUPPLEMENTARY INFORMATION: PO 00000 Frm 00058 Fmt 4703 Sfmt 9990 15725 national interest and defense. Furthermore, the regulations at 30 CFR 208.4(b) state that, upon a determination by the Secretary under paragraph (a) of this section that defined eligible refiners do not have access to adequate supplies of crude oil at equitable prices, the Secretary, at his or her discretion, may elect to take in kind some or all of the royalty oil accruing to the United States from oil and gas leases on Federal lands onshore and the Outer Continental Shelf for sale to eligible refiners. On September 16, 2009, the Secretary announced a phased-in termination of the RIK Program. The termination of the RIK Program precludes future sales of Federal royalty oil to eligible refiners as part of the Eligible Refiner Program. The MMS will honor all existing RIK sales contracts as defined in the contract terms. The MMS’s determination is supported by decreased participation in the RIK Eligible Refiner Program as well as eligible refiners demonstrating a successful ability to compete in the open market. In 1999, six eligible refiners participated in the program, compared to only two in 2009. Over the past few years, eligible refiners have been successfully competing in the RIK Unrestricted Oil Sales Program as well as in the open market. The RIK unrestricted oil sales were open to any bidder who met prequalification requirements, and bidders included many of the major oil companies operating in the United States. On average, 50 percent of the volumes that MMS offered in the RIK Unrestricted Oil Sales Program during the past year have been awarded to eligible refiners. In the most recent unrestricted oil sale, one eligible refiner bid successfully on 80 percent of the volumes that MMS offered for sale. The decreased participation in the Eligible Refiner Program, in conjunction with the increased success of eligible refiners in the RIK Unrestricted Oil Sales Program, clearly demonstrates that an RIK Eligible Refiner Program is not needed at this time. Dated: March 18, 2010. Gregory J. Gould, Associate Director for Minerals Revenue Management. [FR Doc. 2010–7032 Filed 3–29–10; 8:45 am] BILLING CODE 4310–MR–P E:\FR\FM\30MRN1.SGM 30MRN1

Agencies

[Federal Register Volume 75, Number 60 (Tuesday, March 30, 2010)]
[Notices]
[Page 15725]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-7032]


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DEPARTMENT OF THE INTERIOR

Minerals Management Service

[Docket No. MMS-2009-MRM-0014]


Termination of Royalty-in-Kind (RIK) Eligible Refiner Program

AGENCY: Minerals Management Service, Interior.

ACTION: Advance notice for the termination of the RIK Eligible Refiner 
Program.

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SUMMARY: On behalf of the Secretary of the Interior (Secretary), the 
Minerals Management Service (MMS) has conducted a determination of need 
for the RIK Eligible Refiner Program under 30 CFR 208.4 and has 
concluded that a need for the program no longer exists.

DATES: As a result of this determination, MMS will discontinue the 
sales of Federal royalty production to eligible refiners under the 
Eligible Refiner Program until further notice.

FOR FURTHER INFORMATION CONTACT: Colin Bosworth, telephone (303) 231-
3186, FAX (303) 231-3846, or e-mail colin.bosworth@mms.gov.

SUPPLEMENTARY INFORMATION: The regulations at 30 CFR 208.4(a) provide 
that the Secretary may evaluate crude oil market conditions from time 
to time. The evaluation will include, among other things, the 
availability of crude oil and the crude oil requirements of the Federal 
Government, primarily those requirements concerning matters of national 
interest and defense. Furthermore, the regulations at 30 CFR 208.4(b) 
state that, upon a determination by the Secretary under paragraph (a) 
of this section that defined eligible refiners do not have access to 
adequate supplies of crude oil at equitable prices, the Secretary, at 
his or her discretion, may elect to take in kind some or all of the 
royalty oil accruing to the United States from oil and gas leases on 
Federal lands onshore and the Outer Continental Shelf for sale to 
eligible refiners.
    On September 16, 2009, the Secretary announced a phased-in 
termination of the RIK Program. The termination of the RIK Program 
precludes future sales of Federal royalty oil to eligible refiners as 
part of the Eligible Refiner Program. The MMS will honor all existing 
RIK sales contracts as defined in the contract terms.
    The MMS's determination is supported by decreased participation in 
the RIK Eligible Refiner Program as well as eligible refiners 
demonstrating a successful ability to compete in the open market. In 
1999, six eligible refiners participated in the program, compared to 
only two in 2009. Over the past few years, eligible refiners have been 
successfully competing in the RIK Unrestricted Oil Sales Program as 
well as in the open market. The RIK unrestricted oil sales were open to 
any bidder who met prequalification requirements, and bidders included 
many of the major oil companies operating in the United States. On 
average, 50 percent of the volumes that MMS offered in the RIK 
Unrestricted Oil Sales Program during the past year have been awarded 
to eligible refiners. In the most recent unrestricted oil sale, one 
eligible refiner bid successfully on 80 percent of the volumes that MMS 
offered for sale. The decreased participation in the Eligible Refiner 
Program, in conjunction with the increased success of eligible refiners 
in the RIK Unrestricted Oil Sales Program, clearly demonstrates that an 
RIK Eligible Refiner Program is not needed at this time.

    Dated: March 18, 2010.
Gregory J. Gould,
Associate Director for Minerals Revenue Management.
[FR Doc. 2010-7032 Filed 3-29-10; 8:45 am]
BILLING CODE 4310-MR-P