Valero’s CEO Hints of Possible Closure

Global Refining & Fuels Report: Top Stories	January 28, 2009
Theresa Ward, Managing Editor, Newsletter Group	E-mail

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Volume 13, Issue 2

Top Stories
Valero’s CEO Hints of Possible Closure
U.S. Climate Action Partnership Unveils Legislative Blueprint
CCS Much Cheaper than PHEVs for GHG Reduction: EU Report
Study: U.S. Government Should Consider Raising Penalty for Violating CAFE Standard
API: 2008 U.S. Petroleum Demand Reaches Lowest Levels Since 2003
ConocoPhillips to Slash 4% of its Workforce
IEA: Refiners Making Cuts in Response to Economic Downturn
Petrobras Boosts Downstream Investment Plan by 46%
Obama Seeks to Eliminate Imports from Middle East, Venezuela within 10 Years
Toyota Surpassed GM in Global Automotive Sales Last Year
Chevron, Livermore Team-up on Desulfurization Catalyst Research
‘Substantial Changes’ Needed to Mitigate GHGs from Transportation
Obama Calls for Higher CAFE Standard, EPA to Revisit California Emission Waiver
Market Snapshot
Brent
Gasoil
News from Americas
Tesoro: Q4 Earnings Positively Affected by Wider Margins
Pemex: New Refinery Could Cost $10 Billion
Chrysler to Form Alliance with Fiat
Suncor Loses C$215 Million in Q4
United Refining Sees Q1 Net Income Loss of $60 Million
PDVSA Denies Conflict with Petrobras Over Refinery
Kinder Morgan Meets FY 2008 Forecasts
Ontario Revs Up Electric Car Dreams; Minister Calls for ‘Bilateral’ Canada-U.S. Energy Approach
NuStar Energy Q4 Earnings Up, but ‘Weaker than Expected’
News from Middle East / Asia
Kuwaiti Parliament Investigates al-Zour Refinery
CNPC Pays More Than 60% of Profit in Windfall Tax
Reliance FY08 Q3 Earnings Down
CNOOC’s Huizhou Refinery to Launch Production in March
South Korea’s SK Energy Posts Major Q4 Losses
Idemitsu Kosan to Double Crude Export Capacity
Kazakhstan to Complete New 20,000 b/d Refinery by 2012
Iraq Seeks Companies to Bid on $1 Billion FCC Contract
Report: Cost Reduction Sought for Saudi Aramco-Total JV Refinery
News from Europe / Africa
Total Plans €120 Million Project at Donges Refinery
Former German Chancellor Joins TNK-BP Board
Sinopec Could Buy Repsol Stake
Turkish Refinery Project Postponed, but Not Cancelled
Sasol Admits Antitrust Violations; Fuel Price-Fixing Probe Underway
Shell UK Extends Foster Wheeler Contract
Market Report
NYMEX Crude Falls 9% Tuesday

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