- Key Market Prices
- Key Market Prices
- Public Policy
- CARB to Unveil Biodiesel/Renewable Diesel Regulation Jan. 20
- U.S. Sen. Bingaman: Cap-and-Trade Uncertain in 2010
- API to Interior Secretary: Don’t Impose More Hurdles to Drill for Oil and Gas
- Study: U.S. Biofuels Policies Flawed
- U.S.EPA Noted Concerns About Gas Drilling and NYC’s Water Supply
- Diesel Retrofit Funding Seen in Upcoming U.S. Jobs Legislation
- Uzbeks Ban Pre-Euro-3 Truck, Bus Imports
- Margins & Economics
- Investors Lift WTI Beyond US$83
- Rentech Posts First-Ever Annual Net Profit
- Fuels & Processing
- Aruba,Valero and PetroChina Negotiating Refinery Sale
- Glencore Takes Majority Stake in Biopetrol
- Transport Research Board Seeks Alternative Jet-Fuel Study
- Thai Ethanol Use to Double by 2011
- Shell Reviews Downstream Portfolio in Africa
- Alter NRG-Coskata Gasification-Ethanol Project Starts-Up
- Albemarle Launches New Facility
Fuels & Processing
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Aruba,Valero and PetroChina Negotiating Refinery Sale
According to a report from Reuters on Jan. 5 quoting a government spokesperson, Valero Energy Corp., state oil giant PetroChina and the prime minister of Aruba are in the middle of negotiating the sale of Valero’s refinery in the Caribbean nation.
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Glencore Takes Majority Stake in Biopetrol
Swiss commodities trader Glencore has taken a majority stake in Swiss-German company Biopetrol Industries AG, which underwent financial restructuring earlier this year, Reuters reported Dec. 30.
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Transport Research Board Seeks Alternative Jet-Fuel Study
Washington, D.C.-based Transportation Research Board’s Airport Cooperative Research Program officials announced Jan. 6 that they’ve issued a request for proposals to prepare a handbook on “drop-in” alternative jet fuel production and delivery.
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Thai Ethanol Use to Double by 2011
The Bangkok Post reported Jan 1 that Thailand’s Energy Minister Wannarat Channukul said the Thai government has set a goal to increase ethanol content in motor fuels.
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Shell Reviews Downstream Portfolio in Africa
While Shell executives have denied reports the company plans to pull out of Africa, it has not ruled out that it is reviewing its downstream business in Africa as part of its global strategy, according to PetrolWorld (Ireland).
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Alter NRG-Coskata Gasification-Ethanol Project Starts-Up
Calgary, Alberta-based Alter NRG officials announced Jan. 6 that they’ve started-up a biomass-conversion plasma-gasification system at their Westinghouse Plasma Co. division in Madison, Pa.
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Albemarle Launches New Facility
Representatives with Albemarle Corp. announced Jan. 6 the start-up of a new unit to produce SpectraSyn polyalphaolefins, a high viscosity basestock for lubricants, for ExxonMobil Chemical.
Feature
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Wireless Temperature Transmitters Installed in Terminal Facility
Wireless technology reduces installation cost for floating roof temperature measurement application and establishes communications network for future expansion. The technology validates crude oil temperature monitoring in storage tank protection systems.
Key Market Prices
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Key Market Prices
Margins & Economics
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Investors Lift WTI Beyond US$83
For the 10th consecutive trading day, crude futures continue to climb Jan. 6. The price of West Texas Intermediate crude for February delivery settled at US$83.18 per barrel (bbl), registering a 1.72% gain from Jan. 5. Brent crude for February delivery increased 1.61%, to close at $81.89/bbl.
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Rentech Posts First-Ever Annual Net Profit
Los Angeles-based Fischer-Tropsch specialist and fertilizer producer Rentech reported a net profit of US$3 million for its fiscal 2009 ending Sept. 30, the first full-year profit in the company’s history.
Public Policy
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CARB to Unveil Biodiesel/Renewable Diesel Regulation Jan. 20
California Air Resources Board officials will hold a public workshop in Sacramento on Jan. 20 “to discuss the upcoming biodiesel and renewable diesel regulation.”
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U.S. Sen. Bingaman: Cap-and-Trade Uncertain in 2010
U.S. Sen. Jeff Bingaman, (D-N.M)., said there’s no consensus on what form a cap-and-trade system would take, but strong desire exists in the U.S. Senate and U.S. House of Representatives to pass other energy-related bills that would curb pollution blamed for global warming, according to the Associated Press.
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API to Interior Secretary: Don’t Impose More Hurdles to Drill for Oil and Gas
American Petroleum Institute President and Chief Executive Officer Jack Gerard issued a statement in response to Interior Secretary Ken Salazar’s announcement that he would impose additional regulatory hurdles before allowing companies to drill for oil and gas on federal lands. Gerard said to stop further delays and additional hurdles.
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Study: U.S. Biofuels Policies Flawed
According to a new policy paper by Rice University’s Baker Institute for Public Policy, the United States needs to fundamentally rethink its policy of promoting ethanol to diversify its energy sources and increase energy security.
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U.S.EPA Noted Concerns About Gas Drilling and NYC’s Water Supply
The U.S. Environmental Protection Agency has expressed concern about the prospect of energy companies drilling for shale-based natural gas around New York City’s key water supply, according to MarketWatch.
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Diesel Retrofit Funding Seen in Upcoming U.S. Jobs Legislation
Since the U.S. Congress approved a retrofit-oriented Diesel Emissions Reduction Act (DERA) in 2005 with US$1 billion authorized, only $470 million has actually been appropriated, including funding from the American Recovery and Reinvestment Act of 2009.
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Uzbeks Ban Pre-Euro-3 Truck, Bus Imports
Uzbekistan officials announced a ban on import of vehicles failing to meet at least Euro-3 emissions standards as of Jan.1, according to a recent Trend News Agency (Azerbaijan) report.
