- Key Market Prices
- Key Market Prices
- Margins & Economics
- Chevron’s U.S. Downstream Operations Down 66% in Q4
- Crude Futures Down; WTI Below US$72
- 3-2-1 Crack Spread for Gulf Coast Falls 9.49% for Week Ending Jan. 22
- MTBE Posts Gains, Aromatics Mixed with Xylene Down 4%
- Fuels & Processing
- Marathon’s Garyville, La., Refinery Nearly Complete
- ConocoPhillips: Plans to Reduce Refining Assets by Up to 20%
- Petrobras Opens First Ethanol-Fueled Power Plant
- EIA Releases Short Term Energy Outlook
- Sasol, Pertamina Launch Talks on CTL Project
- Choren Nabs French BTL Project Deal
- Liberty Resources Spots Canadian UCG Opportunity
- Waste-to-Energy Seen Growing in Asia
- Transportation & Logistics
- U.S. EPA Certifies DDC Engines for 2010 Emissions
- Toshiba Boasts of Improved Electric-Car Battery
Fuels & Processing
-
Marathon’s Garyville, La., Refinery Nearly Complete
Clifford C. Cook, a Marathon Oil senior vice president, told Reuters Jan. 28 that the company’s expansion of the Garyville, La., refinery is nearly completed. Cook said the biggest part of the US$3.2 billion project – a 180,000 barrel-per-day (b/d) crude unit –already is running, which upgrades the refinery's capacity from 256,000 b/d to 436,000 b/d.
-
ConocoPhillips: Plans to Reduce Refining Assets by Up to 20%
ConocoPhillips’ vice president of corporate affairs, Clayton Reason, told the Houston Chronicle Jan. 27 that the company will look for “‘creative ways’ to reduce its exposure to the troubled refining business as it intensifies its focus on its more profitable oil and natural gas exploration and production arm.”
-
Petrobras Opens First Ethanol-Fueled Power Plant
Brazilian national oil company Petrobras and General Electric on Jan. 19 held the inauguration of the Juiz de Fora (UTE JF) power plant, which uses the world’s first gas turbine system that runs off sugarcane-based ethanol to produce electricity on a full commercial scale, according to the companies.
-
EIA Releases Short Term Energy Outlook
Increases in crude and refined product prices are closely aligned with domestic GDP, according to an energy outlook report released by the EIA earlier this month. The short term energy outlook sees WTI prices averaging $84 per barrel in 2011.
-
Sasol, Pertamina Launch Talks on CTL Project
Sasol’s announced plan to explore a coal-to-liquids project in Indonesia took another step forward last week when company officials began negotiations with state-owned oil refinery Pertamina and also with coal miner PT Tambang Batubara Bukit Asam.
-
Choren Nabs French BTL Project Deal
Germany-based Choren officials announced Jan. 29 that they’ve signed a deal with France-based engineering company CNIM for design and construction of a synthesis gas production facility using biomass feedstock.
-
Liberty Resources Spots Canadian UCG Opportunity
Australian-based Liberty Resources officials on Jan. 27 announced that they’ve secured nine coal dispositions at Gold Lake, Saskatchewan, Canada, and they’re also awaiting the transfer of a further four dispositions, opening an opportunity for a potential underground coal gasification (UCG) project.
-
Waste-to-Energy Seen Growing in Asia
While developers of waste-to-energy (WTE) projects in North America often struggle with permitting and financing issues, Asian WTE is likely to grow at a 6.7% annual rate for thermal projects, and 9.7% for biological projects from 2008 to 2015, according to a new report from Frost & Sullivan.
Feature
-
-
Washington DC Auto Show Highlights Emerging Technologies, Fuel Sources
The theme to last week’s Washington, D.C. Auto Show was “Change Happens Here.” While the word “change” is a popular buzzword in the nation’s capital, this year’s event truly was different than in previous iterations.
Key Market Prices
-
Key Market Prices
Transportation & Logistics
-
U.S. EPA Certifies DDC Engines for 2010 Emissions
U.S. Environmental Protection Agency (EPA) has certified all Detroit Diesel Corp. (DDC) engines fitted with urea-selective catalytic reduction (SCR) for EPA 2010 emissions limits, according to Daimler Trucks officials.
-
Toshiba Boasts of Improved Electric-Car Battery
Toshiba officials on Jan. 27 announced they’ve launched U.S. sales and tech support for what they call the “Super Charge Ion Battery, SCiB,” focused upon battery-electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and conventional gasoline hybrid-electric cars.
Margins & Economics
-
Chevron’s U.S. Downstream Operations Down 66% in Q4
Chevron officials Jan. 29 reported fourth quarter net income of US$3.1 billion for the fourth quarter 2009, down 37% from $4.9 billion in the fourth quarter of 2008. U.S. downstream operations lost $345 million in the fourth quarter 2009, compared with earnings of $1.03 billion a year earlier. The company said the decline was mainly due to weaker margins on the sale of gasoline and other refined products.
-
Crude Futures Down; WTI Below US$72
Crude futures fell further Jan. 29. The price of West Texas Intermediate (WTI) crude for March delivery settled at US$72.89 per barrel (bbl), down 75¢ while Brent crude for March delivery fell 67¢, to close at $71.46/bbl.
-
3-2-1 Crack Spread for Gulf Coast Falls 9.49% for Week Ending Jan. 22
The 3-2-1 crack spread for the Gulf Coast experienced a 9.49% decrease from US$5.90 per barrel (/bbl) to $5.34/bbl for the week ending Jan. 22, and the New York 3-2-1 crack spread decreased 7.18% from $6.23/bbl to $5.79/bbl for the same period.
-
MTBE Posts Gains, Aromatics Mixed with Xylene Down 4%
While NYMEX crude prices ended the week at about US$73 per barrel (/bbl), U.S. Gulf Coast spot prices for aromatics were mixed for the week ending Jan. 29. Benzene remained the same at US$3.80 per gallon (/gal.), while toluene lost 15¢, settling at $2.80/gal., xylene lost 13¢ to close at $3.07/gal., and methanol gained 1¢ to settle at 97¢/gal.
Public Policy
-
U.S. Submits Emission Targets to U.N. Under Copenhagen Accord
In advance of the Jan. 31 deadline, the U.S. Jan. 28 submitted its proposed emission target for 2020 to the United Nations under the Copenhagen Accord.



