Italy’s ERG Posts Significant Earnings Drop in Q1

Global Refining & Fuels Report: News from Europe / Africa	May 20, 2009
Theresa Ward, Managing Editor, Newsletter Group	E-mail

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Volume 13, Issue 10

Top Stories
U.S. EPA, NHTSA Release Joint Plan for Vehicle GHG, CAFE Standards
Total’s Earnings Fall 36% in Q1
ConocoPhillips: U.S. Climate Bill Doesn’t Do Enough to Protect U.S. Refiners
Toyota Loses 437 Billion Yen in FY2009
Recipients of U.S. Stimulus Funds Should Prepare for Scrutiny: Protiviti
GM Loses $6 Billion in Q1
Burning/Gasifying Corn, Cellulose for Electric Cars Vastly More Efficient than Ethanol
Refiners, Automakers Would Take a Hit under Cap-and-Trade: CBO
Chinese Government to Boost Crude Reserves, Build Capacity, Push Clean Energy
China’s NDRC Keeps Speculators Guessing on Prices
Petrobras Q1 Earnings Decline 19.7%
U.S. EIA Slightly Lowers Summer Gasoline Price Forecast
Market Snapshot
Gasoil
Brent
News from Americas
Tesoro Earns $51 Million in Q1
Sunoco Earns $12 Million in Q1
Petrobras in Talks with U.S. Export-Import Bank, Signs MOU with Mitsui
Brief: Wood River Refinery Expansion Commences
Murphy Q1 Earnings Decline, but R&M Earnings on Par with Prior-Year
Tennessee Mandate Could Shutter Valero’s Memphis Refinery
Harvest Energy Completes Work at Newfoundland and Labrador Refinery
Flying J Exploring Sale of California Refinery
Ecopetrol Earnings Decline 30%
Chevron Evaluating Operations at Hawaii Refinery
Brazilian Lawmakers Launch Investigation into Alleged Petrobras Fraud
News from Middle East / Asia
Essar Oil Earns $139M Net Profit for Q4
News Brief: Petrobras, Maranhão State Government Partnering for Massive Refinery
Trial Runs Under Way at Sinopec-Exxon-Saudi Aramco JV
Insight Hybrid Tops Japanese Vehicle Sales in April
Location Change for Chinese-Kuwaiti JV Refinery
Sinopec Signs On for Gulf of Tonkin Project
PetroVietnam: Gasoline from First Refinery Available in June
Jacobs Unit Gets Contract for PetroRabigh Complex
Philippines’ Petron Fundraising for Refinery Expansion
China, Venezuela Bilateral Projects Taking Shape
Israel’s Oil Refineries Earns $75 Million in Q1
Indian Oil Secures Funding for New Paradip Refinery
Saudi PetroRabigh Complex Launches Operations
News from Europe / Africa
Repsol YPF’s Downstream Earnings Climb 52%
Petroplus Loses $11.3 Million in Q1
Lurgi to Expand Tatarstan Refinery
Nigerian Refineries Need Autonomy: Gusau
PKN Orlen Loses PLN 1.1 Billion in Q1
Saras Q1 Earnings Fall 26%
European Governments Must Improve Customer Incentives for EVs: Report
Italy’s ERG Posts Significant Earnings Drop in Q1
Austria’s OMV Sees 84% Q1 Earnings Drop
Market Report
NYMEX Crude Moves Toward $60/bbl

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