Global Refining & Fuels Today

Navy Test Drives Biofuel-Powered Command Boat

The U.S. Navy completed a test drive on a 49-feet-long Riverine Command Boat powered by a 50-50 blend of the Navy’s NATO F-76 standard fuel with an algae-based biodiesel aboard Naval Base Norfolk, Va., on October 22, according to recent Navy announcement.

NPRA’s Drevna: Is EPA Protecting You or the Ethanol Lobby?

In a release dated October 25, Charles Drevna, president of the National Petrochemical & Refiners Association (NPRA), said Americans have long counted on getting safe, affordable, efficient and reliable gasoline and diesel fuel whenever they filled up their cars, trucks, motorcycles, boats and other vehicles.

U.S. Crude Stockpiles Seen Higher as Imports Piled Up

Forecasters are predicting an increase in U.S. crude and gasoline inventories and a decline in distillate stocks for the week ended October 22.

Valero Sells Crude Pipeline Stake to Genesis Energy

On October 25, Valero Energy Corp. announced the execution of an agreement to sell its 50% indirect equity share in the offshore Cameron Highway Oil Pipeline Co. to Genesis Energy L.P. for US$330 million, with an anticipated closing date by year’s end.

U.S. Crude Futures Little Changed

Rosneft 3Q 2010 Net Jumps 121%

Russia-based integrated oil major Rosneft reported October 26 that its third quarter 2010 net income jumped 121%, to US$2.57 billion, versus $1.16 billion in third-quarter 2009.

Diesel Rebound Boosts Valero 3Q 2010 Net to US$292 Million

U.S.-based independent refiner Valero Energy reported October 26 that third quarter 2010 net income rose to US$292 million, a sharp turnaround from a $343 million net loss in third-quarter 2009.

Petroplus Shutting Down Swiss Refinery

Petroplus, Europe’s largest independent oil refiner, announced October 26 that a labor strike at the port in Fos Sur Mer, France, has been forced the company to begin shutting down its Cressier, Switzerland refinery.

DTE Brings Wisconsin Power Station Back Online as Biomass Facility

A Michigan-based utility has brought a once coal-fired power station back online as a renewable energy-powered plant capable of providing power to 28,000 residences in a southern Wisconsin town.

NF Energy Invests in Gaizhou City Biomass Gas Project

China’s NF Energy Saving Corp., a provider of integrated energy conservation solutions, announced October 25 that it had signed an agreement with the Gaizhou Gas Industry Co. to jointly invest in a biomass gas supply project.

CNPC to Divest Refineries

China National Petrochemical Corp. (CNPC), parent company of Sinopec, said it plans to divest its remaining unlisted refining business within five years to avoid internal competition with stock-listed Sinopec.

PBF Still Has Appetite to Acquire U.S. Refineries

The chairman of PBF Energy Co. LLC told Bloomberg on October 25 that the company still is looking to acquire more U.S. refineries.

Strike Ends at Three French Refineries

Workers at three French refineries are expected to return to work, following a vote to suspend walkouts that occurred over pending government pension and port operational reforms, according to an October 25 report by Bloomberg. Yet, eight other French refineries that are theoretically operational have not resumed production operate because of refinery worker strikes or crude shortages resulting from strikes at the Marseille oil import terminals.

Officials Say Essar Mulling Grassroots Refinery in Northern Egypt

The Press Trust of India on October 24 reported that the Essar Group is expressing interest in investing in a US$3.4 billion oil refinery in Egypt. According to the report, a senior Egyptian minister said Essar is in talks covering the commencement of an imminent feasibility study for the plant.

German Drivers to Run on E10 in 2011

The German cabinet is expected to pass legislation allowing gasoline retailers to sell blended gasoline mixed with up to 10% ethanol (E10), according to an October 24 release by Germany’s Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU).

Volvo Launches Sales of Biogas/Diesel Dual-Fuel Engine Buses

Volvo announced October 26 that it launched sales of buses that run both on bio-derived methane and diesel or biodiesel, operating in diesel-cycle mode rather than Otto-cycle (spark-ignited) mode.