- Key Market Prices
- Weaker Dollar Causes Crude Futures to Rise
- Public Policy
- S. African Government Proposes Carbon Tax Scheme
- Baumes Named Director at USDA Office of Energy Policy and New Uses
- Margins & Economics
- Refiner Tesoro Corp. Forming MLP
- John Wood Group Acquires PSN
- U.S. Crude Futures Up on Weaker Dollar
- Fuels & Processing
- Valero Restarting Aruba Refinery
- Petrobras Announces Billions in Bank Funding
- Foster Wheeler Wins FEED for 2 Petrobras Refineries
- ExxonMobil Completes US$86-Million Expansion at Wyoming CO2-Capture Plant
- JGC, Chiyoda, Technip, SK, GS Win Vietnam Refinery Contract
- TNK-BP Cutting Refinery Pollution at Saratov
- Energy Demand Growth Spikes Air Liquide Outlook to 2015
- IEA Revised 2015 Refining Outlook: ‘Build Baby, Build’
- Transportation & Logistics
- ‘Death Knell’ for Gasoline: Hybrids, EVs to Dominate U.K. Fleet Cars
Fuels & Processing
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Valero Restarting Aruba Refinery
Valero Energy announced December 13 that it has decided to restart its 235,000 barrels-per-day Aruba refinery, and separately signed a memo of understanding to deliver liquefied natural gas (LNG) to the island for power generation.
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Petrobras Announces Billions in Bank Funding
Petrobras Announces Billions in Bank Funding
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Foster Wheeler Wins FEED for 2 Petrobras Refineries
Foster Wheeler announced December 13 that it won a basic engineering and a front-end engineering and design (FEED) contract for two new Petrobras refineries in Brazil.
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ExxonMobil Completes US$86-Million Expansion at Wyoming CO2-Capture Plant
U.S. multinational ExxonMobil Corp. announced December 10 that it has completed a US$86-million expansion of the world’s largest carbon-dioxide (CO2) capture plant near LaBarge, Wyoming.
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JGC, Chiyoda, Technip, SK, GS Win Vietnam Refinery Contract
A consortium led by Japan’s JGC Corp. on December 13 won a US$ 8 billion bid to build a 200,000 barrels-per-day refinery in Vietnam.
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TNK-BP Cutting Refinery Pollution at Saratov
TNK-BP announced December 13 that it’s slashing all types of environmental pollution at its Saratov refinery, as part of a R230 million (US$7.45-million) cleanup program this year.
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Energy Demand Growth Spikes Air Liquide Outlook to 2015
Air Liquide announced December 13 that an improving energy-demand growth forecast to 2015 indicates that its global revenues are likely to grow by 8% to 10% annually between 2011 and 2015.
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IEA Revised 2015 Refining Outlook: ‘Build Baby, Build’
The International Energy Agency’s (IEA) “medium-term oil outlook” update to 2015 – included in the December 10, 2010 edition of its monthly Oil Market Report – finds that global crude distillation capacity expansions are now likely to top a whopping 9.2 million barrels per day (b/d) between now and 2015.
Feature
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COP 16 Special Coverage: Meetings Hailed a Success; Many Issues Postponed
The 16th session of the UN-sponsored Conference of the Parties (COP 16) climate change summit concluded in dramatic fashion on December 11 with a deal participants said proved multi-lateral negotiations could indeed yield results. Still, few changes were made in areas that could have a direct impact on energy producers.
Key Market Prices
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Weaker Dollar Causes Crude Futures to Rise
Transportation & Logistics
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‘Death Knell’ for Gasoline: Hybrids, EVs to Dominate U.K. Fleet Cars
Sales of new conventional gasoline-powered cars in the U.K. will be nearly extinct within 10 years, replaced by electric hybrids and pure electric vehicles (EVs), according to a new study released December 10 by U.K.-based fleet leasing consultant Lex Autolease.
Margins & Economics
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Refiner Tesoro Corp. Forming MLP
Texas-based Tesoro Corp. announced December 13 its intention to form a Master Limited Partnership (MLP) with contributed logistics assets and then offer units in the MLP via an initial public offering. The MLP is intended to support Tesoro's strategy to grow its logistics business.
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John Wood Group Acquires PSN
John Wood Group PLC (Wood Group) announced December 13 that it has entered into an agreement to acquire PSN Limited (PSN) for a total enterprise value of US$955 million.
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U.S. Crude Futures Up on Weaker Dollar
NYMEX light sweet crude for January delivery settled at US$88.61per barrel (/bbl), up 82¢ on December 13, as the dollar fell against most major currencies.
Public Policy
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S. African Government Proposes Carbon Tax Scheme
South Africa’s government is proposing a carbon tax scheme that could have a considerable impact on the country’s two biggest carbon-dioxide emitters: coal-to-liquids specialist Sasol and electricity producer Eskom.
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Baumes Named Director at USDA Office of Energy Policy and New Uses
On December 10, U.S. Department of Agriculture (USDA) Chief Economist Joseph Glauber announced the selection of Dr. Harry Baumes as the director of the Office of Energy Policy and New Uses (OEPNU).
