- Key Market Prices
- Key Market Prices
- Margins & Economics
- Unsolicited Offer for Airgas
- Positive Energy Industry Outlook from S&P
- IEA Sees Perk-Up in Oil Demand in 2010
- Archer Daniels Midland Profits, Revenue Down
- Crude Futures Continue Rally; WTI Over US$75
- Total Impacted by Decreasing Refining Margins
- Statoil Q4 2009 Income Affected by Reduced Refining Margins, Drop in Gas Prices
- Fuels & Processing
- Petrobras Inks GTL FPSO Demo Deal with Oxford/Velocys
- Essar, Shell Refinery Discussions Ongoing
- University to License Coal-to-Liquids Technology
- Possible Nuke for Sasol Stokes Mitsubishi Deal with PBMR
- Siemens Wins Amino-Acid CO2 Capture Study Contract at U.S. Coal Plant
- Transportation & Logistics
- CARB Verifies ThermaCat Diesel Particle Filter
Fuels & Processing
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Petrobras Inks GTL FPSO Demo Deal with Oxford/Velocys
United Kingdom-based Oxford Catalysts officials announced Feb. 10 that their Velocys subsidiary signed a joint demonstration and testing agreement with Petrobras that could lead to a proposed floating production storage and offloading vessel application of the Velocys gas-to-liquids technology.
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Essar, Shell Refinery Discussions Ongoing
Essar Group Chairman Shashi Ruia in early February said talks are progressing with Royal Dutch Shell Plc for acquiring three of its refineries in the United Kingdom and Germany, according to NewsWire18 Ltd. (India).
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University to License Coal-to-Liquids Technology
Researchers at The University of Texas at Arlington’s Center for Renewable Energy and Science Technology said they are perfecting a coal-to-crude process that has produced an energy source costing much less than traditional crude oil.
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Possible Nuke for Sasol Stokes Mitsubishi Deal with PBMR
Sasol has long sought potential solutions, including nuclear power, to cut its carbon footprint at its giant coal-to-liquids plant in Secunda, South Africa.
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Siemens Wins Amino-Acid CO2 Capture Study Contract at U.S. Coal Plant
Siemens officials announced Feb. 10 that they’ve won a contract from U.S.-based Longview Power LLC “to conduct an innovative study analyzing the applicability of post-combustion carbon dioxide capture technology.”
Feature
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Shell/Aramco Motiva Refinery Expansion Closer to Completion
The US$7 billion Shell/Saudi Aramco Motiva refinery expansion at Port Arthur, Texas, took another step toward a planned first-quarter 2012 start-up this week with a “topping-off’ ceremony for the refinery’s newest and tallest structure, the DCU2 delayed coker unit.
Key Market Prices
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Key Market Prices
Transportation & Logistics
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CARB Verifies ThermaCat Diesel Particle Filter
California Air Resources Board officials announced Feb. 11 that they’ve revised their verification of ESW Canada’s ThermaCat diesel particulate filter retrofit system for certain on-road diesel vehicles without exhaust gas recirculation for model years between 1993 and 2006.
Margins & Economics
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Unsolicited Offer for Airgas
Airgas Inc. officials Feb. 11 confirmed that Air Products & Chemicals Inc. has initiated an unsolicited tender offer to acquire all outstanding common shares of Airgas at a price of US$60 per share in cash, which represents the fourth offer from Air Products.
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Positive Energy Industry Outlook from S&P
In an industry economic and ratings outlook report from Standard & Poor’s titled Rating Trends For U.S. Oil & Gas Companies Should Stabilize, but Uncertainties Remain, the ratings firm indicated the worst of the energy industry downturn has passed.
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IEA Sees Perk-Up in Oil Demand in 2010
International Energy Agency forecasters see global crude-oil demand perking-up in 2010, as explained in their latest monthly Oil Market Report (issued Feb. 11).
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Archer Daniels Midland Profits, Revenue Down
Archer Daniels Midland Co. reported its fiscal second-quarter results Feb. 2. According to the company, its profits were down 2% at 88¢ per share, totaling US$567 million for the quarter ending Dec. 31.
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Crude Futures Continue Rally; WTI Over US$75
Crude oil futures rose Feb.11 with the price of West Texas Intermediate crude for March delivery settling at US$75.28 per barrel (/bbl), up 76¢. Brent crude for March delivery rose 51¢ to close at $73.05/bbl.
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Total Impacted by Decreasing Refining Margins
Total reported Feb. 11 fourth quarter 2009 net income of €2.1 billion (US$3.1 billion), compared with €2.9 billion (US$4 billion), a 28% decrease. Adjusted net operating income for the downstream segment was €51 million (US$75) in fourth-quarter 2009, a decrease of 93% from fourth-quarter 2008. The decline reflected the “sharp decrease in refining margins and less favorable conditions for marketing and supply optimization,” according to Total.
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Statoil Q4 2009 Income Affected by Reduced Refining Margins, Drop in Gas Prices
Statoil reported fourth quarter 2009 results Feb. 11, indicating quarterly operating income of NOK 33.5 billion, (US$5.7 billion) compared with NOK 37.8 billion (US$6.4 billion) in the same quarter 2008, which the company attributed to a 55% reduction in refining margins as well as a 48% drop in natural gas prices.
Public Policy
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Whole Foods, Bed Bath & Beyond Reject Oil-Sands Derived Fuels
Two U.S. national retail chains – “green” grocer Whole Foods, and home supplier Bed Bath & Beyond – announced Feb. 10 that they’re rejecting purchase of motor fuels refined from allegedly “high-carbon” Canadian oil sands.
