- Key Market Prices
- Key Market Prices
- Public Policy
- U.S. EPA Finalizes ‘RFS-2’ Renewable Fuels Rule
- Margins & Economics
- Tesoro Reports Q4 Net Loss of US$179 Million
- Two-Day Rally Ends; WTI Falls Below US$77
- Fuels & Processing
- Algenol to Open New Biofuels Facility
- Biofuels Comprised 2.7% of U.K. Transportation Fuel Supply in 2008-2009
- India Advisory Panel: Deregulate Diesel, Gasoline Prices
- Gulf Oil President: Price Should Decide Biofuel Use
- Petrobras: US$30 Billion Capitalization Just Hypothetical
- Nynas Installs Emerson’s Wireless Solution
- Cat Boosts Diesel Power for Staatsolie Refinery
- Burns & McDonnell Wins Xcel Biomass Gasification EPC Contract
- Transportation & Logistics
- VW China Uses Strategy to Outsell Competitors: Analysis
- Cummins Inks Diesel Engine Deal with Chrysler
Fuels & Processing
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Algenol to Open New Biofuels Facility
Florida-based Algenol Biofuels Inc. officials announced Feb. 3 that the company has reached an agreement with the Lee County Board of Commissioners to support the opening of a new 43,000 square-foot facility that will house Algenol’s advanced biology and engineering laboratories.
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Biofuels Comprised 2.7% of U.K. Transportation Fuel Supply in 2008-2009
The U.K. Renewable Fuels Agency (RFA) released a report Jan. 28 on the impacts of the first year of the Renewable Transport Fuel Obligation (RTFO), which requires refiners, importers and others who supply more than 450,000 liters of fossil-based transportation fuels each year to the United Kingdom’s markets to supply biofuels in their fuel at a 2.5% level in 2008-2009.
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India Advisory Panel: Deregulate Diesel, Gasoline Prices
A special panel on fuel price regulation appointed by India’s Petroleum Minister Murli Deora recommends “total decontrol of oil prices” – except for kerosene and LP-Gas – as well as an “immediate increase in prices of kerosene by Rs6 [US$0.13] per liter and LPG rates by Rs100 [US$2.17] a cylinder,” according to a report from Economic Times (India).
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Gulf Oil President: Price Should Decide Biofuel Use
Joe Petrowski, president of Gulf Oil Co., spoke to the Iowa Renewable Fuels Association summit Jan. 22 and said biofuels have a bright future, but also gave what he admitted was an unorthodox view of their place in the nation’s energy supply, Radio Iowa reported Jan. 26.
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Petrobras: US$30 Billion Capitalization Just Hypothetical
Petrobras officials this week down-played a press story about the company’s potential US$30 billion capitalization, saying the suggested valuation is essentially hypothetical, rather than actual.
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Nynas Installs Emerson’s Wireless Solution
Nynas AB, an international group that refines heavy crude oil to produce bitumen and naphthenic specialty oil products, selected Emerson Process Management’s smart wireless technology to upgrade an underground storage tank monitoring system, creating an online integrated solution.
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Cat Boosts Diesel Power for Staatsolie Refinery
Caterpillar officials announced Feb. 1 that they’ll be provide two “16CM32” medium-speed diesel generator-sets for a cogeneration power plant that will produce more than 25 megaWatts of power for the Staatsolie refinery in Paramaribo, Suriname.
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Burns & McDonnell Wins Xcel Biomass Gasification EPC Contract
Kansas City, Missouri-base Burns & McDonnell officials announced Jan. 29 that they’ve won a contract from big U.S. power generator Xcel Energy to perform engineering services and permitting, procurement and construction support services for design and installation of a biomass gasification unit at Xcel’s Bay Front Power Plant in Ashland, Wisconsin.
Feature
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FY 2011 DOE Budget: Winners and Losers
The Obama Administration Feb. 1 proposed a budget of US$28.4 billion for the U.S. Department of Energy (DOE), which includes funding for renewable energy programs, electric grid modernization schemes, carbon capture and storage technologies and programs that support energy efficiency. Oil and gas companies will lose numerous fossil fuel tax preferences amounting to $26.2 billion in extra taxes over the next decade, according to the National Petrochemical & Refiners Association.
Key Market Prices
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Key Market Prices
Transportation & Logistics
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VW China Uses Strategy to Outsell Competitors: Analysis
VW-China outsold all its competitors in the China market last year, not because it has the most glamorous cars but because it has a solid business strategy, according to a commentary article this week by Automotive News China managing editor Yang Jian.
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Cummins Inks Diesel Engine Deal with Chrysler
Putting to rest rumors that Fiat-owned Chrysler would dump Cummins diesel engines in “Ram” pickup trucks, Cummins officials announced Feb. 3 a multiyear extension of its current agreement with Chrysler.
Margins & Economics
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Tesoro Reports Q4 Net Loss of US$179 Million
Tesoro Corporation Feb. 2 reported a fourth quarter 2009 net loss of US$179 million, or $1.30 per diluted share compared to net earnings of $97 million, or 70¢ per diluted share for the fourth quarter of 2008.
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Two-Day Rally Ends; WTI Falls Below US$77
Crude futures fell Feb. 3, ending a two-day rally. The price of West Texas Intermediate (WTI) crude for March delivery settled at US$76.98 per barrel (/bbl), down 25¢, while Brent crude for March delivery fell 14¢, to close at $75.92/bbl.
Public Policy
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U.S. EPA Finalizes ‘RFS-2’ Renewable Fuels Rule
U.S. Environmental Protection Agency (EPA) on Feb. 3 issued its final “renewable fuel standard-2” (RFS-2) rule, spelling out terms for blending conventional fatty acid methyl ester (FAME) biodiesel as well as “advanced” biofuels including refinery hydroprocessed “renewable diesel” or biomass-to-liquids (BTL) Fischer-Tropsch renewable diesel in the U.S. diesel fuel pool.
