- Key Market Prices
- Key Market Prices
- Public Policy
- CARB Updates Predictive Models
- Margins & Economics
- Crude Futures Continue Steady Rise
Fuels & Processing
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Refinery Projects: Bidding to Win in 2010
Pressure on prices and margins combined with overcapacity in the global refining industry will slow down major conversion unit investments in 2010. The projects that do proceed will nonetheless put significant pressures on the general contractors.
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Sunoco Fined for Air Violations
The Pennsylvania Department of Environmental Protection (PDEP) fined Sunoco Refining and Marketing US$173,310 in civil penalties for violations noted at its petroleum refinery located in Marcus Hook, Delaware County.
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ARC to Present to Nevada Legislature
Advanced Refining Concepts, LLC, a privately held developer and manufacturer of novel gas-to-liquids fuel, has been invited to present to a Nevada legislative committee studying energy production and use Jan.19 in Las Vegas.
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Cosmo Oil to Cut Processing Volumes
Officials with Japan's Cosmo Oil Co Ltd. said on Jan. 5 the company plans to cut its crude oil processing volumes for January through March by 4.6% from the same period a year earlier, according to Reuters.
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Shenhua CTL Wins Fuel Wholesale License
China Shenhua Group, producer of motor fuels from a direct coal-to-liquids plant, just won a domestic fuel wholesale license in China, according to a Reuters report quoting the Ministry of Commerce.
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Deutsche Bank Upgrades U.S. Refining Outlook
While Deutsche Bank analysts held a negative view of the refining sector in 2009, they now see relative positives in 2010 and have raised their recommendation to neutral from underweight with raised stock recommendations across the board.
Feature
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Source: Statoil, photo by Harald Pettersen
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Statoil Offers New Biofuel at the Pump in Norway
Statoil officials announced Jan. 5 that consumers in Norway have a new fuel option available starting immediately. Forty percent of Statoil’s stations will be selling the new biofuel “Bensin 95,” starting with stations in Southern and Eastern Norway.
Key Market Prices
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Key Market Prices
Transportation & Logistics
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Lithium-Air Batteries Could Replace Gasoline: ANL
Scientists at the U.S. Department of Energy-financed Argonne National Lab believe that lithium-air batteries could in 10 to 20 years replace lithium-ion batteries as a more practical technology aiming to eliminate gasoline-powered vehicles.
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Hyundai Aims to Boost Global Sales 16% This Year
Hyundai Motor Co. officials announced this week they’re aiming to boost global sales 16% this year, to 5.4 million units including sales through the Kia subsidiary.
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Hong Kong Taxi Drivers Suffer Massive LPG Fuel Problems
Pushed by government clean-air regulation to switch from diesel fuel to LP-Gas in recent years, Hong Kong taxis are now suffering massive problems from poor-quality LPG, according to numerous press reports.
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Small Cars Dominate Trend-Setting Delhi Auto Show
More evidence of a continuing trend toward smaller, fuel-efficient cars continued to appear at this week’s annual auto show in Delhi, India, which is home to one of the world’s fastest-growing automotive markets.
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Truckers Dispute Railroad CO2 Savings Claims
American Trucking Associations officials last week issued a statement contradicting claims that diesel-electric freight railroads in North America always beat diesel trucks on net carbon dioxide emissions.
Margins & Economics
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Crude Futures Continue Steady Rise
For the ninth consecutive trading day, crude futures continue to climb Jan. 5. The price of West Texas Intermediate crude for February delivery settled at US$81.77 per barrel (bbl), 26¢ higher. Brent crude for February delivery increased 47¢ to close at $80.59/bbl.
Public Policy
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CARB Updates Predictive Models
The California Environmental Protection Agency Air Resources Board Web site has been updated with new Predictive Model spreadsheets, which reflect the amendments made to the California reformulated gasoline regulation in June 2007 and were approved by the Office of Administrative Law on Aug. 29, 2008.
