- Key Market Prices
- Key Market Prices
- Public Policy
- CARB Proposes DTBP Additive to Fix Biodiesel NOx Problem
- Margins & Economics
- 3-2-1 Crack Spread for Gulf Coast Up 18.65%, New York Gains 4.56%
- 2009 Crude Oil Production Up 7% from 2008
- WTI Crude Falls Below US$79 Per Barrel
- Aromatics Prices Mixed Last Week
- Refining Outlook 2010: Contrasts and Opportunities
- Fuels & Processing
- Valero Finalizes Purchase of Two Ethanol Plants
- US$400M Upgrade for BP-Husky Toledo Refinery
- Chevron Awards Fourth Contract for Gorgon Gas to Asia
- ExxonMobil Signs Long-Term Contract with Hydrogen Supplier
- PetroChina Becoming Significant Player in Caribbean Fuel Oil Market
- Praxair to Supply Valero Refining with Oxygen and Nitrogen
- Renewable Energy Group to Supply Biodiesel for Hawaiian Electric’s New Campbell Industrial Park Generation Station
- Peru Delays ULSD Mandate until March
- Transportation & Logistics
- Crosstex Acquires Intracoastal Pipeline from Chevron
Fuels & Processing
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Valero Finalizes Purchase of Two Ethanol Plants
Valero Renewable Fuels Company, LLC, a wholly owned subsidiary of Valero Energy Corporation, announced Jan.14 that it has closed on its purchase of two ethanol plants from ASA Ethanol Holdings, LLC.
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US$400M Upgrade for BP-Husky Toledo Refinery
Officials at BP-Husky Refining LLC announced Jan. 14 a major equipment upgrade at the BP-Husky Toledo Refinery in Oregon, Ohio.
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Chevron Awards Fourth Contract for Gorgon Gas to Asia
Chevron Corp. officials announced the company secured a fourth long-term sales agreement for shipments of liquefied natural gas from its US$45 billion Gorgon Project located on Barrow Island off the coast of Western Australia to a buyer in Asia.
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ExxonMobil Signs Long-Term Contract with Hydrogen Supplier
Increasing hydrogen requirements by many refiners is one reason why ExxonMobil has signed a long term contract with Air Products to supply its Rotterdam refinery. A new hydrogen plant will also be built in the area to meet growing demand.
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PetroChina Becoming Significant Player in Caribbean Fuel Oil Market
The Caribbean is becoming a major hub for fuel oil traders. PetroChina is projected to become a major player in the Caribbean fuel oil market with its investment in storage facilities and its ties with PDVSA.
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Praxair to Supply Valero Refining with Oxygen and Nitrogen
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Renewable Energy Group to Supply Biodiesel for Hawaiian Electric’s New Campbell Industrial Park Generation Station
Hawaiian Electric Co. has signed a contract with a subsidiary of Iowa-based Renewable Energy Group to supply biodiesel for Hawaiian Electric’s new 110-megaWatt combustion turbine generator unit at Campbell Industrial Park Generating Station, representatives with the companies announced.
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Peru Delays ULSD Mandate until March
Hart’s International Fuel Quality Center reports that the Peruvian government has given fuel wholesalers until March 1, 2010, to convert retail sales to 50-parts per million (ppm) sulfur diesel (ULSD) in the twin cities of Lima and Callao.
Feature
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Caiman Energy’s Lafield: Private Equity Filling the Gathering Gap
As the public funding for midstream projects continues to dry up, a host of private equity-funded companies have been entering the sector. One of the most interesting and aggressive is Caiman Energy, led by Jack Lafield and Danny Thompson, recently of Crosstex Energy, and Rick Moncrief, late of Regency Energy. Gas Processors Report spoke with Lafield about the company’s decision to enter the Marcellus shale.
Key Market Prices
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Key Market Prices
Transportation & Logistics
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Crosstex Acquires Intracoastal Pipeline from Chevron
Chevron Corp. completed its fourth sale of an intrastate natural gas liquids pipeline system in the past month with the US$10 million sale of its Intracoastal Pipeline to Crosstex Energy.
Margins & Economics
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3-2-1 Crack Spread for Gulf Coast Up 18.65%, New York Gains 4.56%
The 3-2-1 crack spread for the Gulf Coast experienced an 18.65% increase from US$6.65 per barrel (/bbl) to $7.89/bbl for the week ending Jan. 8, and the New York 3-2-1 crack spread increased 4.56% from $7.88/bbl to $8.25/bbl for the same period.
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2009 Crude Oil Production Up 7% from 2008
The American Petroleum Institute (API) reported Jan. 15 that total petroleum deliveries (a measure of demand) for December inched up 0.6% from December 2008, reflecting an improved economy and possibly increased demand from colder weather. For full-year 2009, crude oil production was up 7% over the prior year, averaging 5.3 million b/d.
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WTI Crude Falls Below US$79 Per Barrel
Crude futures prices continued to fall Jan. 15. The price of West Texas Intermediate (WTI) crude for February delivery settled at US$78 per barrel (/bbl), down $1.39. Brent crude for February delivery dropped 72¢ to close at $77.10/bbl.
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Aromatics Prices Mixed Last Week
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Refining Outlook 2010: Contrasts and Opportunities
2010 will be a pivotal year for the energy industry. Refinery overexpansion from the previous upcycle will be felt, while the industry adjusts to shifts in market demand.
Public Policy
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CARB Proposes DTBP Additive to Fix Biodiesel NOx Problem
California Air Resources Board (CARB) officials announced Jan. 15 a draft “concept paper” for biodiesel and renewable diesel.
