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| Today’s
Feature:
U.S. EPA Blames Press for Reports on Diesel Shortages, Says 90% of U.S. Diesel Production Now ULSD
In a response letter to U.S. Senator James Inhofe (R-Okla.), U.S. EPA blamed the news media for reporting that diesel shortages in some parts of the U.S. Midwest were due in part to refinery, pipeline and terminal transitions to ultra-low sulfur diesel (ULSD) fuel. “Contrary to press reports, the fuels industry has indicated that the transition to ULSD is not a primary or even a secondary factor in the current tight supply of diesel fuel,” EPA’s letter to Inhofe says. “In many cases, the transition to ULSD had already occurred prior to the market tightening.”
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Petrobras: Bolivian Nationalization Plan Makes Operations “Unviable”
Brazil’s state oil company Petrobras announced this week that new conditions for international companies producing petroleum products in Bolivia set Wednesday by that country’s Ministry of Hydrocarbons and Energy will make Petrobras’ refining business there “totally unviable.” Petrobras said it disagrees with the conditions “from the legal, operational and financial viewpoints.”
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Crude Resumes Moving Downward Thursday
The price of the front month crude oil futures contract on the New York Mercantile Exchange (NYMEX) declined 1.2%, to $63.22/bbl Thursday after going up slightly Wednesday for the first time in several days.
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U.S., China Renew Energy Agreements
The U.S. Department of Energy (DOE) yesterday signed five-year extension agreements with China’s Ministry of Science and Technology for the countries to cooperate and share information regarding energy security and environmental protection, the agency announced.
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Argentine Government to Require Refinery Investments
The government of Argentina is working on accords to compel and require the country’s refiners to invest in their refineries, Dow Jones reported.
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EPA Says Cap and Trade Program Reducing Emissions in Eastern U.S.
U.S. EPA said yesterday its nitrogen oxide (NOx) emissions cap and trade program has helped reduce ozone-forming emissions from refineries and other large facilities in the eastern U.S. 11% from 2004 to 2005.
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Hart Conference, “Refining & Renewables – Working Together for a Sustainable Future,” To Be Held in Washington, Oct. 16-18
Hart’s World Refining and Fuels Conference, “Refining & Renewables – Working Together for a Sustainable Future,” will be held in Washington, D.C., on October 16-18. The conference is focused on how clean and renewable fuels will meet global energy needs, and the impacts on refiners and automakers.
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Report: Total Wants to Reduce Stake in Zambian Refinery
Total Outre Mer wants to review shareholding in Indeni Petroleum, Zambia’s only refinery, in order to reduce its stake in the refinery from 50% to 35%, Zambian newspaper The Post reported.
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Honda Plans Development of Cellulosic Ethanol
Japanese automaker Honda announced yesterday its research and development division and the Research Institute of Innovative Technology for the Earth (RITE) have developed technology to produce ethanol from soft-biomass. Soft-biomass includes inedible leaves and plant stalks.
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Lukoil Wants to Increase Refinery Capacity 50%
Russian oil company Lukoil aims to increase its refinery capacity 50% to 75 million tons annually, with sights set on an eventual increase to 100 million tons per year, Interfax reported, citing the company’s vice president.
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In Other Sectors:
·NYMEX crude closed at $63.22/bbl, down $0.75/bbl on the day. ·ICE Brent crude finished the day down $0.74/bbl at $62.25/bbl. ·OPEC crude went down $1.29/bbl, to $59.08/bbl. ·NYMEX heating oil was down 3 cents on the day, closing at $1.74/gal. ·Unleaded gasoline closed at $1.55/gal on the NYMEX, down 2 c/gal. ·Ethanol on the Chicago Board of Trade ended the day down 1 c/gal, settling at $1.86/gal.
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