Global Refining & Fuels Today

U.S. EPA Approval for 15% Ethanol Blends seen as ‘Unlikely’

The probability that the U.S. Environmental Protection Agency will grant Growth Energy’s request for a waiver that would permit ethanol blends of up to 15% in gasoline is not very likely, according to Washington sources.

‘Cash for Clunkers’ to End Aug. 24 Evening

The popular “Cash for Clunkers” program implemented by the U.S. Department of Transportation will have its last day this coming Monday evening.

Iran: Gasoline Output at Star Refinery Expected Within Two Years

Countering questions about whether Iran would have enough refined product supplies should the West and the United States impose gasoline sanctions upon the country, Iranian President Mahmoud Ahmadinejad announced the Star refinery in Bandar Abbas will start producing gasoline sometime in the next two years.

Alaskan Agency Proposed to Renew Tesoro Permit

The Alaska Department of Environmental Conservation is proposing to renew an air quality permit for the Kenai Pipeline facility, which belongs to the Tesoro Alaska Co.

CFTC, FSA to Jointly Supervise Linked Futures Markets

The U.S. Commodities Futures Trading Commission and the Financial Services Authority announced a newly expanded cooperative agreement to oversee linked futures markets to prevent speculation and market manipulation. The authorities are creating a series of rules that will imposed by each. The first market to come under this agreement is the ICE Futures Europe.

China’s Top Oil Refiners Expecting a Surge in Quarterly Earnings

In contrast to Western oil companies, China’s top refiners are expecting healthy quarterly earnings. As a result of relaxation of state-capped fuel prices, the country’s two largest refiners should expect improved margins

Kuwait May Reconsider Plans for New Refinery in Louisiana

In an effort to compensate for a scrapped multi-billion dollar joint venture with Dow Chemical Company, Kuwait may reconsider plans for building a new refinery in Louisiana. Kuwait and the state of Louisiana had previously signed a memorandum of understanding in late 2006.

First Major Refinery in Southern China Expected to Run Higher than 80% Capacity

CNOOC’s Hiuzhou refinery that started up in March will run at 80 to 90% capacity for the remainder of the year. Although these rates are lower than expected, they are nonetheless higher than most other regions

Italy’s Eni Reportedly Mulling Uganda Refinery Deal

The Uganda government is seeking to develop the country’s oil resources. A possible refinery project with Italian integrated company Eni is one such example of the country’s efforts.

Imperial Oil Reconsiders Cold Lake Oil Sands Expansion

Canada’s Imperial Oil is reportedly revising its design plans for a possible expansion at its Cold Lake oil sands project in northern Alberta. The expansion would increase output by 30,000 barrels per day.

NYMEX Crude Lowers to Under $73/bbl

Uncertainty about an economic recovery caused the October price of the NYMEX crude futures contract to fall slightly Thursday, down 1.3% to $72.91 per barrel.

Saudi Aramco Commencing Expanded Ras Tanura Operations by 2010

Auto, Oil Experts Debate: What’s Best Biofuel/Powertrain Combo?

Biofuels likely will play a bigger role in replacing crude-based fuels, but automakers and energy companies still don’t know which biofuels to focus upon, let alone which powertrains.

Williams’ Q2 Performance Highlighted by Return of Discovery and Ignacio

Williams officials chose to highlight the improvements company had made in the second quarter rather than focus on the negative aspects of the economy in their Q2 earnings call. Company representatives also announced an acquisition in the Piceance and a joint venture with Dominion to bring Rockies and Appalachian supplies to market.

Toyota Plans to Ramp Up 2009 Production, Buy Batteries from Sanyo

To meet demand, Japanese automaker Toyota announced plans to increase production in 2009 to 5.95 million Toyota vehicles, compared with a previous goal of 5.8 million units. The automaker is also planning to buy lithium-ion batteries from Sanyo, as its joint venture with Panasonic is having trouble keeping up with demand.

Chinese Battery Maker BYD Signs Supply Agreement with Chinese Automaker

Chinese battery maker and auto manufacturer BYD Co. reportedly signed an agreement with an undisclosed Chinese automaker to supply lithium-ion batteries for hybrid vehicles.