- Key Market Prices
- WTI Closes Above US$91/bbl
- Public Policy
- CARB Unveils ‘High Carbon Intensity Crude Oil’ Regulatory Advisory
- China Adopts Retroactive Biodiesel Tax Credit
- China’s Parliament Aims to Increase Domestic Corn Production
- Bolivian Government Hikes Diesel, Gasoline Prices
- Margins & Economics
- WTI Prices Back Above US$91/bbl
- Sri Lanka to Invest US$52 Million to Boost CNG Use
- Fuels & Processing
- Essar Oil to Import Crude to Kenyan Refinery
- Turkmenistan Auctions 320,000 Tons of Oil Products
- Sinopec’s Yangzi Refinery Expansion Approved, Report Says
- Japan Researchers Unveil Offshore Algae-Biofuel Production Scheme
- Saudi Aramco’s Yanbu Refinery Start-Up Set for 2014
- Azerbaijan Shifting to Euro-3 Fuels
- Transportation & Logistics
- Level 2 EV Recharging Offered at McDonald’s in W. Virginia
- Daimler, GAZ Ink Diesel Van Manufacturing Deal
Fuels & Processing
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Essar Oil to Import Crude to Kenyan Refinery
Indian integrated oil and natural gas company, Essar Oil, has won a contract to import crude oil for processing at Kenya’s 88,000 barrel-per-day refinery in Mombasa, according to a December 27 report in Kenya’s Daily Nation newspaper.
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Turkmenistan Auctions 320,000 Tons of Oil Products
The central Asian Turkic state of Turkmenistan recently auctioned about 320,000 tons of oil products from the Turkmenbashi refinery, and refineries in the Saydi and Nayip gas-processing complex at the State Commodity and Raw Materials Exchange.
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Sinopec’s Yangzi Refinery Expansion Approved, Report Says
Two refinery personnel told Bloomberg on December 28 that an expansion at the China Petroleum & Chemical Corp. Yangzi refinery was approved “to meet local fuel demand.”
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Japan Researchers Unveil Offshore Algae-Biofuel Production Scheme
The Tokyo Institute of Technology, Takenaka Corp., NEC, Okinawa Electric, Yokogawa Electric and Yaskawa Electric are planning to launch a new joint research foundation by April 2011 aimed at developing offshore algae-biofuel production.
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Saudi Aramco’s Yanbu Refinery Start-Up Set for 2014
Saudi Aramco’s Yanbu refinery will go online in 2014, according to a December 28 report by Bloomberg.
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Azerbaijan Shifting to Euro-3 Fuels
State Oil Company of Azerbaijan (SOCAR) aims to convert to Euro-3 (350 parts-per-million sulfur) diesel by year-end 2011 and Euro-3 gasoline by 2012.
Feature
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STX Finland, Viking Team Up to Build LNG Cruiseferry
South Korean shipbuilder STX Finland Cruise Oy and Viking Line, a Finnish company that operates a fleet of ferries and cruiseferries have signed an agreement for the construction of a vessel powered exclusively with liquefied natural gas (LNG).
Key Market Prices
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WTI Closes Above US$91/bbl
Transportation & Logistics
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Level 2 EV Recharging Offered at McDonald’s in W. Virginia
Patrons of McDonald’s in West Virginia will soon be able to receive an electric-vehicle (EV) recharge, along with their French fries, according to a December 21 report in the Los Angeles Times.
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Daimler, GAZ Ink Diesel Van Manufacturing Deal
Daimler announced December 23 that it signed a memo of understanding with GAZ for manufacture of the Mercedes-Benz “Sprinter” diesel van in Russia.
Margins & Economics
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WTI Prices Back Above US$91/bbl
NYMEX light sweet crude for February delivery finished at US$91.49 per barrel (/bbl), up 49¢ on December 28, amid speculation that harsh winter weather will continue to drive demand in northern Europe and the U.S.
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Sri Lanka to Invest US$52 Million to Boost CNG Use
Government officials in Sri Lanka will invest US$52 million over the next two years to introduce compressed natural gas (CNG) to various sectors of the south Asian island nation, according to a December 28 report by Sri Lanka’s Daily Mirror newspaper.
Public Policy
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CARB Unveils ‘High Carbon Intensity Crude Oil’ Regulatory Advisory
California Air Resources Board (CARB) on December 23 unveiled a new “regulatory advisory” for its low carbon fuel standard (LCFS), including “interim” guidance to refiners on “high carbon intensity crude oils” (HCICO).
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China Adopts Retroactive Biodiesel Tax Credit
China’s Ministry of Finance announced December 24 that it has decided to apply a biodiesel tax credit retroactive to Jan. 1, 2009.
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China’s Parliament Aims to Increase Domestic Corn Production
China’s National People’s Congress, or Parliament, is proposing legislation on the management of genetically modified (GMO) food, according to a December 27 report by the Xinhua news agency.
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Bolivian Government Hikes Diesel, Gasoline Prices
The government of Bolivia announced December 26 an 82% increase in diesel fuel prices and a 73% hike in regular gasoline prices.
