India-based diesel sport-utility vehicle (SUV) and tractor maker Mahindra & Mahindra (M&M) on February 7 report that in its fiscal-year (FY) 2012 third quarter (Q3) (which ended Dec. 31, 2011) profits rose 16% over the comparable FY-2011 Q3.

Volvo announced February 6 that it won an order for another 25 diesel-electric hybrid buses from Göteborgs Spårvägar (Gothenburg Tramways), which operates public transport services on behalf of the Västtrafik transit agency in Sweden.

Houston-based marine transport and diesel engine specialist Kirby Corp. announced February 2 that net earnings in 2011 rose to US$183 million, up from $116.2 million in 2010, while consolidated revenues for 2011 were $1.85 billion, compared with $1.11 billion for 2010.

The latest Organization of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report – released February 9 – finds that its prior world oil demand growth forecast for 2012 must be trimmed by another 120,000 barrels per day (b/d) because of continuing economic weakness, principally in the European Union (EU).

The Port of Rotterdam Authority announced February 9 that because of a recent decision by the World Port Climate Initiative (WPCI) to drop an “emission-control area” (ECA) bunker-fuel sulfur limit of 0.1% and replace it with the International Maritime Organization 0.5% sulfur global bunker-fuel limit (due in 2020) that “more ships will be eligible for the discounts that sea ports have attached to the Environmental Ship Index (ESI).”

The latest International Energy Agency (IEA) monthly Oil Market Report (released February 10) finds that global oil demand would grow by 800,000 barrels per day (b/d) this year, down 300,000 b/d from last month’s growth forecast for 2012.

London-based IntercontinentalExchange (ICE) announced February 7 the first-ever physical delivery of ultra low sulfur diesel (ULSD) based upon ICE’s ULSD futures contract.

In all, 934 lots (93,400 metric tons) of ULSD “were successfully delivered during the first physical delivery process for the new contract,” according to ICE.

Air Products on February 8 inaugurated a new hydrogen plant at Port of Rotterdam, which will help a local ExxonMobil Corp. refinery reduce net carbon-dioxide (CO2) emissions while enabling production of lower-sulfur distillate fuels, including diesel.

An upcoming joint study by Germanischer Lloyd (GL) and marine engine maker MAN indicates that converting certain sea-going vessels to liquefied natural gas (LNG) power – enabling compliance with upcoming “emissions-control area” (ECA) mandates – would be cheaper than installing stack emissions-scrubbing systems (which enable continued use of relatively cheap heavy fuel oil (HFO) in ECAs) or else switching to 0.1% sulfur marine gasoil (MGO) or marine diesel oil (MDO).

Italian government export bank SACE on January 25 announced a US$144-million loan to OAO Tatneft subsidiary Taneco to help aid construction of a US$7.4-billion, 148,000 barrel-per-day refinery in Tatarstan (Russian Federation).

Germany-based chemical giant BASF announced February 6 the official launch of a 60,000 tons/year sodium methylate plant in Guaratinguetá, Brazil, enabling more biodiesel production in South America.

The Port of Gothenburg announced January 25 that shipping company Brostrom Tanker joined Mærsk Line in switching to low-sulfur (0.1%) marine gasoil (MGO) or marine diesel oil (MDO) in place of heavy fuel oil (HFO) when operating in and around the port.

India’s government has asked its state-owned upstream oil companies including Oil and Natural Gas Corp. (ONGC) and Oil India Ltd. (OIL) to shell-out Rs 36,900 crore (US$7.5 billion) in subsidies to cover huge losses incurred by Indian’s state-owned refiners from April 2011 to December 2011.

Florida-based APR Energy (APR) announced February 7 that it signed extension agreements with two of its major customers in Africa: the Botswana Power Corporation (BPC) and the national utility of Burkina Faso, SONABEL, for diesel generator power.

State-owned Uzbekenergo on February 3 unveiled plans to build a coal-to-liquid (CTL) diesel fuel plant in the Tashkent region of Uzbekistan.

Ultra-low sulfur diesel (ULSD) spot and futures prices in major markets rose last week thanks in part to falling temperatures in the U.S. Northeast, which spurs demand for gasoil/heating oil, plus thinning distillate supplies in Europe, thanks to the shut-downs and production cut-backs at Petroplus refineries.