- Key Market Prices
- Key Market Prices
- Public Policy
- API Testifies at EPA Hearing in Houston
- Refiners, Truckers Sue CARB over ‘Low Carbon Fuel Standard’ Rule
- Summit IGCC Project Passes Another Hurdle
- Margins & Economics
- Marathon Q4 Report: Loss of US$18 Million in Refining Segment
- Market Rally Pushes Crude Futures Past US$77
- Fuels & Processing
- Alon Bidding on Big West’s California Refinery
- Foster Wheeler Wins Oil Refinery Feasibility Study in Uganda
- Sunoco Closes Eagle Point Refinery
- Xebec Inks Biogas Upgrading Plant in Asia
- Fluor Wins Study for Petrobras U.S. Refinery
- Syngas Inks CTL, BTL, Electricity Deals
- Petrobras Updates ULSD Rollouts
- Exelon Joins FutureGen
- Transportation & Logistics
- Renault-Nissan Alliance Boosts Global Share
Fuels & Processing
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Alon Bidding on Big West’s California Refinery
Dallas-based Alon USA Energy officials announced Feb. 2 that they’ve been selected as the “stalking horse” bidder for the 70,000 barrels/day Bakersfield, California, refinery from Big West of California, LLC, a subsidiary of Flying J Inc.
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Foster Wheeler Wins Oil Refinery Feasibility Study in Uganda
Switzerland-based Foster Wheeler officials announced Feb. 2 that they’ve won a feasibility study contract from the government of Uganda for a proposed 150,000 barrels/day oil refinery.
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Sunoco Closes Eagle Point Refinery
Sunoco officials announced Feb. 1 that they have permanently shut down the previously idled Eagle Point refinery in Westville, N.J., due to continuing weak demand for refined products and unfavorable market conditions.
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Xebec Inks Biogas Upgrading Plant in Asia
Officials with Xebec Adsorption Inc. confirmed Feb. 2 that the company has been awarded a contract from Halla Energy and Environment for a biogas upgrading plant to be used in a biogas project currently being developed by the Sudokwon Landfill Corporation in Seoul, South Korea.
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Fluor Wins Study for Petrobras U.S. Refinery
Texas-based Fluor officials announced Feb. 2 that they’ve won a front-end engineering study for a “prospective” project at Petrobras’ 100,000 barrels/day refinery at Pasadena, Texas.
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Syngas Inks CTL, BTL, Electricity Deals
Australia-based Syngas officials announced late last month that they’ve signed separate deals with UOP, Rentech and Vemtec Australia for various projects involving coal-to-liquids, biomass-to-liquids and electric power for Syngas’s proposed 15,800 barrels/day “Clinton” coal-to-liquids Fischer-Tropsch diesel project in South Australia.
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Petrobras Updates ULSD Rollouts
Petrobras officials late last month issued an update on the refiner’s plans to introduce ultra-low sulfur diesel of Euro-4 (50-parts per million sulfur) and Euro-5 (10-ppm sulfur) qualities.
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Exelon Joins FutureGen
Chicago-based Exelon Corp. officials announced Jan. 30 that they intend to join the government/industry “FutureGen” integrated gasification combined cycle project alliance, initially contributing US$2 million and then up to $32 million over the next six years, subject to finalization of terms.
Feature
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Photo courtesy of GE Oil & Gas
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Emerging Economies to Lead Way in Oil and Gas Demand Recovery
As the price of oil begins to make a steady climb back toward the $US80-per-barrel mark seen a few weeks ago, rig counts rise in the United States to more than 37% since the middle of last year, exploration and production spending is on the rise roughly 10% and hydrocarbon demand is expected to increase to levels seen in 2007, more countries are expected to step up to the recovery efforts.
Key Market Prices
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Key Market Prices
Transportation & Logistics
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Renault-Nissan Alliance Boosts Global Share
Despite a 3% decline in Renault sales and a 9% decline in Nissan sales in 2009, the Renault-Nissan Alliance group nevertheless saw its global market share (including the recently acquired AvtaVaz Lada group) rise to 9.8% of the world automotive market last year.
Margins & Economics
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Marathon Q4 Report: Loss of US$18 Million in Refining Segment
Marathon Oil Corp. Feb. 2 reported fourth quarter 2009 net income of US$355 million, or 50¢ per diluted share. The Refining, Marketing and Transportation (RM&T) segment reported a loss of $18 million in the fourth quarter of 2009 and income of $464 million for the year, compared to income of $325 million and $1.18 billion in the same periods of 2008.
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Market Rally Pushes Crude Futures Past US$77
Crude futures experienced a boost Feb. 2 as pending home sales increased by 1% in December, surprising economists and providing confidence to investors. The price of West Texas Intermediate (WTI) crude for March delivery rose 3%, settling at US$77.23 per barrel (/bbl), and Brent crude for March delivery was up 4% closing at $76.06/bbl.
Public Policy
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API Testifies at EPA Hearing in Houston
In testimony delivered in Houston today, the American Petroleum Institute (API) said the U.S. Environmental Protection Agency’s (EPA’s) proposed new ozone pollution standards would exact significant costs on consumers, jobs and the economy without delivering commensurate benefits. It said there was no solid scientific justification for imposing the more stringent standards.
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Refiners, Truckers Sue CARB over ‘Low Carbon Fuel Standard’ Rule
National Petrochemical & Refiners Association (NPRA), American Trucking Associations, the Center for North American Energy Security and the Consumer Energy Alliance on Feb. 2 sued California Air Resources Board over the agency’s pioneering “low carbon fuel standard” rule.
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Summit IGCC Project Passes Another Hurdle
Summit Power’s proposed 400-megaWatt integrated gasification combined cycle power plant in Texas passed another hurdle last week when the Odessa (Texas) Development Corporation approved a deal that effectively allowed Summit to qualify for a US$350 million “clean coal power initiative” grant from U.S. Department of Energy.
