November 12, 2010
Volume: 2
Issue: 219

Fuels & Processing

ExxonMobil Announces Service Station GPS App

On November 11, ExxonMobil introduced the "Exxon Mobil Fuel Finder" iPhone and iPod touch application which is now available on the iTunes App Store. The application provides drivers with real-time maps, driving directions and station information for more than 10,000 Exxon and Mobil retail locations across the continental United States

Full Story >>

Repsol's Peruvian CFO Says Refinery, Retailing Expansion Coming

Within a November 11 report, Bloomberg quoted a high level officer within Repsol YPF SA's Peruvian downstream group saying that the company intends to look at both an expansion of Peru's Pampilla refinery and a buildout of its fuel station network to meet growing fuel demand.

Full Story >>

Despite Diesel Squeeze, China’s Oil Demand at Record High

China’s implied oil demand expanded by 12% in October from a year earlier – even as government-mandated power cuts triggered a diesel shortage, according to a November 11 Reuters report. Implied oil use – defined as refinery crude throughput plus net imports of refined fuel – jumped to 8.92 million barrels per day (b/d) surpassing the previous high of 8.91 million b/d in June, the report said.

Full Story >>

Feature

Energy Spectrum Capital’s Honeybone: Investors Come in Three Waves

“When we look at the midstream landscape, there really are two avenues for growth and opportunities. The first is most specific to the Marcellus and other shale plays and that’s greenfield development … the other avenue is acquisition of existing assets,” Mark Honeybone, a partner in private-equity firm Energy Spectrum Capital, said while speaking at Hart Energy Publishing’s DUG East Marcellus Midstream Workshop in Pittsburgh, Pa., last week.
Full Story >>

Key Market Prices

WTI Remains Unchanged as Dollar Strengthens

Full Story >>

Transportation & Logistics

GE to Buy 25,000 EVs by 2015

General Electric announced November 11 that it will buy 25,000 electric vehicles (EVs) for its own corporate fleet as well as for fleet customers by 2015.

Full Story >>

Audi Launches EV Test Center

Hoping to spur commercialization of electric vehicles (EVs), Audi announced November 10 that it has commissioned a new, €65 million (US$ million) EV test center at Ingolstadt, Germany, including advanced drive systems, batteries and power electronics.

Full Story >>

Bosch, Samsung Launch Li-Ion Battery Plant for EVs

Bosch and Samsung announced November 10 that their “SB LiMotive” joint venture has now launched production of lithium-ion battery cells for hybrid and electric vehicles at a factory in Ulsan, South Korea.

Full Story >>

Transit Agencies Win US$25 Million in Grants for Electric Buses, Recharge Stations

Colorado-based electric bus maker Proterra announced November 10 that five transit agencies in Florida, Nevada, Washington and California won more than US$25 million in grants for electric transit buses and recharge infrastructure.

Full Story >>

U.S. EPA EV MPG-CO2 Calculations Seen Flawed

A Boston-based consumer shopping service announced November 10 that both the U.S. Environmental Protection Agency (EPA) and the U.S. National Highway Traffic Safety Administration (NHTSA) failed to employ a sensible metric for measuring “miles per gallon” and net carbon emissions for upcoming electric vehicles (EVs).

Full Story >>

Margins & Economics

Niobrara/Cushing Oil Pipeline Owner Now Trading on NYSE

On November 11, the Class A common stock shares of SemGroup Corp. began trading on the New York Stock Exchange (NYSE) under the ticker symbol SEMG. The listing completes the registration process with the Securities and Exchange Commission commenced by SemGroup earlier this year.

SemGroup Corp. owns a majority stake in White Cliffs Pipeline, the sole crude oil pipeline that connects Colorado’s Niobrara unconventional oil producing region with the U.S. oil hub at Cushing Oklahoma.

Full Story >>

BioFuel Energy Posts 3Q 2010 Loss of US$1.8 Million

Officials with Denver-based BioFuel Energy Corp. reported a third-quarter 2010 net loss of US$1.8 million, versus a net loss of $8.4 million for the same period in 2009.

Full Story >>

Front-Month WTI Flat as Chinese Demand Offset Dollar Gains

NYMEX light sweet crude for December delivery was unchanged at US$87.81 per barrel (/bbl), on November 11, as a report showing Chinese refiners processed a record amount of crude in October offset a stronger U.S. dollar.

Full Story >>

Public Policy

TCEQ Unwilling to Follow New Federal GHG Rules

Texas environmental quality officials said they refuse to implement a program that regulates the largest industrial sources of greenhouse gas (GHG) emissions – continuing to assert that the U.S. Environmental Protection Agency (EPA) lacks the legal authority to regulate GHG under the Clean Air Act.

Full Story >>

IRFA Official: E15 Lawsuit Based on Corporate Greed

A lawsuit challenging the U.S. Environmental Protection Agency’s (EPA’s) decision to increase the amount of ethanol added to gasoline is motivated by greed, the executive director of the Iowa Renewable Fuels Association (IRFA) said November 11.

Full Story >>

U.S. House Begins Taking Shape for 2011

The November 2 midterm elections saw Republicans storm back into power in the U.S. House of Representatives and reduce the Democratic majority in the U.S. Senate – altering the direction of several legislative issues through the appointment of new leadership in House committees – and making it more difficult for the Democrats to gain the 60 votes needed for cloture.

Full Story >>

Giant Los Angeles/Long Beach Ports Set Diesel Cleanup Hearing for Nov. 22

The giant Ports of Los Angeles and Long Beach announced that they’ll reconvene a hearing November 22 to adopt a pioneering “2010 San Pedro Bay Ports Clean Air Action Plan (CAAP)” update, which would slash diesel emissions from both marine and shore-side engines, vessels, equipment and trucks.

Full Story >>