- Key Market Prices
- Key Market Prices
- Margins & Economics
- Crude Prices Fall on Weak Economic Reports
- Telvent DTN Sees Volatile Q3 Oil Outlook
- Fuels & Processing
- Alaska’s First Biodiesel Facility Now Open
- Shell Philippines Postpones Refinery Expansion And IPO
- Foster Wheeler Wins Sinopec Contract for CFB Steam Generators
- Air Liquide Nabs Wal-Mart Hydrogen Fuel Cell Lift-Truck Deal
- Petrobras Unveils US$224 Billion 2010-2014 Investment Plan
- Australia Building 1st CO2 Mineralization Pilot Plant
- Petrobras Invests US$239 Million in Ethanol Production
Fuels & Processing
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Alaska’s First Biodiesel Facility Now Open
On June 17, Alaska Waste celebrated the commissioning and grand opening of its new US$3 million biodiesel plant in Anchorage, Alaska. According to the company, the facility is the first commercially-sized plant of its kind in the state.
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Shell Philippines Postpones Refinery Expansion And IPO
Pilipinas Shell Petroleum Corp. officials relay that the initial public offering, key capital expenditures and even continued ownership of its 110,000 barrel-per-day Batangas refinery are in flux due to long-running tax disputes. The disputed amount at issue, US$160 million, likely would give pause to any intrepid investor or operator.
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Foster Wheeler Wins Sinopec Contract for CFB Steam Generators
Officials with Foster Wheeler AG announced June 21 that a subsidiary of its Global Power Group has been awarded a contract by Sinopec Wuhan Co. for the design and supply of three circulating fluidized-bed (CFB) steam generators for the Sinopec Wuhan Cogeneration Plant for the 800,000 ton per year ethylene project in central China's Wuhan city.
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Air Liquide Nabs Wal-Mart Hydrogen Fuel Cell Lift-Truck Deal
Following on the heels of Air Products’ hydrogen fuel-cell lift-truck deal with Sysco in Texas, Air Liquide is trumpeting its new deal to supply hydrogen for Wal-Mart distribution-center lift trucks in Alberta, Canada.
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Petrobras Unveils US$224 Billion 2010-2014 Investment Plan
Petrobras officials June 21 unveiled a US$224 billion investment plan for 2010 to 2014, 53% of which will go for upstream oil and gas and all but 5% ($11.7 billion) targeted for Brazil.
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Australia Building 1st CO2 Mineralization Pilot Plant
Australia-based GreenMag Group and University of Newcastle (Australia) officials announced this month that they’ve won an Aus$3 million (US$2.63 million) grant from the New South Wales mineral resources ministry to build a pilot-scale plant that converts carbon dioxide to magnesium carbonate.
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Petrobras Invests US$239 Million in Ethanol Production
Petrobras announced its plan to invest US$239 million (420.8 million Brazilian reals) in an ethanol joint venture with sugar producer Sao Martinho S.A, according to Dow Jones Newswires. Petrobras will have rights to 49% of the ethanol produced, and both companies will share control and elect three members each to comprise the six-person board.
Feature
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LanzaTech Steel Mill Off-Gases Waste Conversion Could Yield 30 Billion Gallons/Year Ethanol: CEO Interview
New Zealand-based LanzaTech officials announced June 21 the signing of its first commercial partnership with China’s largest steel and iron conglomerate, Baosteel, and Chinese Academy of Sciences to commercialize LanzaTech’s technologies for producing fuel ethanol from steel mill off-gases rather than farm crops.
Key Market Prices
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Key Market Prices
Transportation & Logistics
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Navistar/Mahindra JV Producing 25-Ton Diesel Trucks in India
Navistar and Mahindra officials announced last week that they’ve begun production of the “MN25” 25-ton truck in Pune, India, as part of their MNAL joint venture deal.
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Toshiba to Build Drive Motors for Ford’s EVs at U.S. Facility
Officials with Toshiba Corp. announced June 21 that they will expand manufacturing capacity at the company’s plant in Houston for production of high-performance drive motors for hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and electric vehicles (EVs).
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World’s Largest Ethanol Bus Fleet Grows by 85 New Scania Buses
Truck manufacturer Scania is delivering 85 ethanol-powered buses to Nobina, which operates on behalf of the Stockholm, Sweden, regional public transport company, Storstockholms Lokaltrafik (SL), the company announced June 21.
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Hino Debuts 1st U.S. Diesel-Electric Hybrid Truck in New York
Hino officials announced last week that they’ve debuted their first diesel-electric hybrid truck at New York Department of Sanitation (DSNY).
Margins & Economics
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Crude Prices Fall on Weak Economic Reports
Crude futures fell after the release of disappointing economic data June 22. West Texas Intermediate crude for July delivery fell 61¢ to settle at US$77.21 per barrel (/bbl), and Brent crude was down 78¢ closing at $78.04/bbl.
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Telvent DTN Sees Volatile Q3 Oil Outlook
In a Tuesday morning call, June 22, Brian Milne with Telvent DTN stepped us through his outlook for 2010’s Q3 fuels markets. Upstream and down, the near term outlook is similar. Ample storage stocks and high production of both crude and key products hem in sustained price improvements. And as crude spreads and refining cracks remain sufficiently positive, producers and refiners will continue putting high rates of production on the markets. Yet political and currency risks will add volatility overall. Diesel processors who’ve expanded capacity recently likely to see sustained recovering margins.
Public Policy
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Senate Hearing Debates Federal Funding for Electric Vehicles
Frederick W. Smith, chairman, president and chief executive officer of FedEx Corp., co-chairman of the Energy Security Leadership Council, and a member of the Electrification Coalition, testified June 22 at a hearing of the U.S. Senate Energy and Natural Resources Committee. Smith spoke about the dangers posed by our nation’s dependence on petroleum, and the plan to end that threat through the electrification of the ground transportation system.
