Hart Energy
Date: March 11, 2010 Volume: 2, Issue: 47 PRINTER FRIENDLY
bulletPUBLIC POLICY
bulletMARGINS & ECONOMICS
bulletFUELS & PROCESSING
bulletTRANSPORTATION & LOGISTICS
bulletFEATURES

PUBLIC POLICY

API to U.S. Congress: Stop EPA on GGE Rules

The American Petroleum Institute (API) released a statement March 10 on two letters (one from 20 governors; the other from 98 business groups) asking the U.S. Congress to prevent the U.S. Environmental Protection Agency (EPA) from issuing greenhouse gas emission (GGE) rules.

Carbon Dioxide for EOR Could Boost U.S. Oil Output by 3.6 Million B/D

Tapping carbon dioxide (CO2) emissions from sources such as coal-fired power plants could boost U.S. oil production by between 3 million to 3.6 million barrels per day, according to a new study by Advanced Resources International with additional analysis by enhanced oil recovery/CO2 pipeline operator Denbury Resources.

U.S. Senate Approval of Biodiesel Tax Credit Extension Good for Economy

Renewable Energy Group (REG) March 10 applauded the U.S. Senate’s passage of a bill containing the reinstatement of the biodiesel blenders’ tax credit, which the REG said is a “critical piece of energy independence and green collar economy policy.”

Albermarle Joins U.S. DOE Biofuels Project

Officials with Albemarle Corp. said they will participate in the National Advanced Biofuels Consortium that will conduct research to develop clean sustainable transportation fuels.

FUELS & PROCESSING

CERAWeek: Cisco Systems Inc.’s Mark Bartram Discusses Industry

In a 10-minute recorded interview with Global Refining and Fuels Today, Cisco Systems Inc.’s Mark Bartram touches on some of the key areas he sees across the energy industry today and those to be watched in the future, including government, technology, challenges and solutions as well as discussion about in-country refining.

CERAWeek: Saudi Aramco CEO Touts Triple-A Approach

Technical advances in the production of crude oil and natural gas will be made in the future just as surely as they will in alternative fuels, but fossil fuels will still satisfy about 80% of total global energy needs 20 years from now, the president and chief executive officer of Saudi Aramco said March 9 during the 29th annual IHS CERAWeek in Houston.

KBR Wins Reformer Project for BP-Husky Refinery

Houston-based KBR officials announced March 10 that they won an engineering, procurement and service contract for BP-Husky’s US$400 million “reformer 3” equipment upgrade at its Toledo refinery in Ohio.

Caltex Boosts Diesel Marketing in Australia

Caltex officials announced March 10 that they’re boosting diesel fuel infrastructure in Queensland, Australia, with the opening of a new 27-million-liter diesel terminal.

IMO Working on Carbon Regulation for Shipping; Industry Examines Sustainability, Biofuels

Emirates Business reported March 10 that the International Maritime Organization is working on introducing carbon regulation for the shipping industry, and the organization’s efforts are focusing on introducing a carbon tax to encourage energy-efficient ships, according to a senior industry official.

 

FEATURES

CERAWeek: Where Does the Downstream Industry Go from Here?

Refiners during IHS CERA’s CERAWeek in Houston on March 9 said they believe the industry has “bottomed out” and is slowly on its way to recovery; however, it will most likely not be until 2011 when more positive momentum is realized. Panelists during the downstream plenary session addressed topics including public policy, supply and demand and the role non-conventional fuels are playing.

Key Market Prices:

 

03/10/10

MARKET UPDATE

Commodity

 

Month

Price

Change

Brent Crude

$/bbl

Apr-10

80.48

0.57

NYMEX WTI Crude

$/bbl

Apr-10

82.09

0.60

NYMEX ULSD

$/gal

Apr-10

2.16

0.03

NYMEX RBOB

$/gal

Apr-10

2.29

0.03

OPEC (13 grades)

$/bbl

Spot

77.38

-0.48

CBOT ethanol

$/gal

Apr-10

1.62

0.00

 


MARGINS & ECONOMICS

Crude Futures Closed Higher on Signs of Rising Demand

Crude oil futures settled higher March 10 as new data reported tightening U.S. fuel supplies and rising demand as well as positive export news from China. West Texas Intermediate (WTI) crude for April delivery rose 60¢ settling at US$82.09 per barrel (/bbl), and the Brent crude for April delivery gained 57¢, closing at $80.48/bbl.

TRANSPORTATION & LOGISTICS

Ford, GM Tout Ultra-Low-Emissions 2011 Diesel Pickups for N. America

Ford Motor Co. and General Motors officials last week bragged about their new 2011 model year ultra-low-emissions diesel pickup trucks for the North American market.

CERAWeek: China Oil Demand

Apart from the Chinese government’s economic stimulus package of 2009, which has been extended through 2010, Chinese oil demand will continue to grow exponentially.

EU Hails Global Agreement on Electric Car Safety

Technical regulation adopted March 10 at the United Nations Economic Commission for Europe conference will ensure global safety standards on electric vehicles and hybrid-electrics, according to the European Commission.

U.S. Diesel Demand, Economy Still Soft: Ceridian-UCLA Index

The diesel-centric Ceridian-UCLA Pulse of Commerce Index by University of California-Los Angeles Anderson School of Management shows the U.S. economy “essentially flat over the first two months of the year, with a February decline offsetting the modest gains previously reported for January.”

Texas City Installing EV Charging Stations Ahead of Demand

The city of El Paso, Texas, plans to install 32 electric vehicle (EV) recharging stations around the city even though EVs aren’t yet publicly available.