- Key Market Prices
- WTI Falls US$1.45/bbl
- Public Policy
- EPA, Texas Working on Truce over Touchy Permit Issues
- Australia to Impose CCS Standards on Coal-Fired Generators
- Margins & Economics
- WTI Extends Losses, Sinks Below $75
- Analysis: Most U.S. States Will Be Ready to Permit GHG Emissions by Deadline
- Fuels & Processing
- Cheniere Receives DOE Approval to Export LNG
- Valero Executive: U.S. Refiners Must Export More Fuel
- Singapore Refiners Consider Euro-5 Deadlines
- Citgo Finally Completes ULSD Upgrades at Illinois Refinery
- Sasol Mulls Cancelling US$10 Billion Indonesia CTL Project
- PetroSA, Sinopec in Talks on South Africa Refinery
- Alter NRG Bags Gasification Contract for Florida WTE Project
- Denbury Resources to Buy CO2 Reserves Near Rocky Mountains
Fuels & Processing
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Cheniere Receives DOE Approval to Export LNG
The U.S. Department of Energy (DOE) approved Cheniere Energy Partners’ plan to convert its Sabine Pass liquefied natural gas (LNG) receiving and gasification terminal in Cameron Parish, Louisiana into a liquefaction terminal in order to export up to 16 million metric tons per year of LNG produced in the United States to foreign countries for a 30-year period.
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Valero Executive: U.S. Refiners Must Export More Fuel
As global energy demand continues to improve, U.S. refiners must grow their business by reducing costs to improve margins and exporting more fuel.
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Singapore Refiners Consider Euro-5 Deadlines
Government officials in Singapore are surveying refiners about a possible 2014 deadline for converting local diesel to Euro-5 (10 parts per million [ppm] sulfur) standards, although some local refiners already produce and export the fuel.
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Citgo Finally Completes ULSD Upgrades at Illinois Refinery
Citgo officials announced September 16 that they have finally completed construction and start-up of ultra low sulfur diesel (ULSD) processing units at their Lemont, Illinois, refinery, enabling 100% ULSD quality diesel.
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Sasol Mulls Cancelling US$10 Billion Indonesia CTL Project
Sasol officials reportedly are considering cancellation of their proposed US$10 billion coal-to-liquids (CTL) project in Indonesia, according to an Asia Pulse report.
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PetroSA, Sinopec in Talks on South Africa Refinery
PetroSA officials announced September 14 that they had “fruitful talks” Sinopec over a proposed US$10 billion refinery in South Africa.
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Alter NRG Bags Gasification Contract for Florida WTE Project
Calgary, Alberta-based Alter NRG officials announced September 16 that they’ve won an engineering service contract for Geoplasma’s 24-megaWatt gasification-based waste to energy (WTE) project in St. Lucie, Florida.
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Denbury Resources to Buy CO2 Reserves Near Rocky Mountains
Investors pushed Denbury Resources higher on September 15 after the oil and gas company said it plans to spend US$115 million to acquire various carbon dioxide (CO2) reserves in the Rocky Mountain region of Wyoming.
Feature
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Spectra Energy Footprint to Continue to Change and Expand
Spectra Energy’s CFO Pat Reddy highlights the company’s asset base as enabling the company to continue to grow relatively inexpensively compared to the growth rate in the coming years. Speaking at this week’s Bank of America Merrill Lynch Investment Conference in San Francisco, Calif., Reddy said that the company’s asset base forms the company’s foundation for the future and would be impossible to duplicate today.
Key Market Prices
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WTI Falls US$1.45/bbl
Transportation & Logistics
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Williams Acquires 49% Interest in Overland Pass Pipeline
ONEOK Partners LP sold a 49% interest in Overland Pass Pipeline Company LLC to Williams Partners LP for US$424 million, making ONEOK and Williams 50/50 partners in the company. Previously, ONEOK owned 99% of the company with the remaining 1% being held by Williams.
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Landi Renzo to Offer CARB-Certified Dedicated CNG System
Officials with Landi Renzo USA Corporation, a global supplier/installer of fuel systems to original equipment manufacturers’ projects, announced September 16 the development of a 50-state CARB (California Air Resources Board) certified dedicated compressed natural gas (CNG) system that will be available on the 2011/12 gaseous prep 5.4L Ford E-Series Cargo and Passenger Van in the first quarter of 2011.
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Green Dragon Acquires CNG Refueling Network
Green Dragon Gas will install 25 new compressed natural gas (CNG) stations in seven districts across Henan Province, in east central China, according to a September 15 company announcement.
Margins & Economics
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WTI Extends Losses, Sinks Below $75
NYMEX light sweet crude for October delivery finished at US$74.57 per barrel (/bbl), down $1.45/bbl on September 16 as a key pipeline supplying oil from Canada to the U.S. was expected to resume operations soon.
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Analysis: Most U.S. States Will Be Ready to Permit GHG Emissions by Deadline
According to analysis released September 15 from the National Association of Clean Air Agencies (NACAA), a majority of U.S. states are preparing to begin permitting emissions of greenhouse gases (GHGs) under the Clean Air Act.
Public Policy
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EPA, Texas Working on Truce over Touchy Permit Issues
The U.S. Environmental Protection Agency (EPA) will help Texas petrochemical companies comply with the Clean Air Act after it rejected the state's industrial permitting program in June, the agency's regional director said on September 14.
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Australia to Impose CCS Standards on Coal-Fired Generators
Recently-elected Australian Prime Minister Julia Gillard (Labor Party) said earlier this month that a revised federal Carbon Pollution Reduction Scheme (CPRS) policy will require all new coal-fired power plants to be “carbon capture and storage-ready (CCS-ready).”
