- Key Market Prices
- Key Market Prices
- Public Policy
- Greens Sue European Commission over Biofuels ‘Cover-up’
- EU ‘On Track’ to Meet 20% Renewables Target by 2020
- Margins & Economics
- Crude Futures Closed Lower on U.S. Economy Concerns
- Gulf Coast and New York 3-2-1 Crack Spread Up for Week Ending March 5
- Prices Mixed for Week Ending March 12
- Lyondell Chemical to Raise US$3.25 Billion in Debt Financing
- Alternative Energies’ Growth Potential
- Fuels & Processing
- CERAWeek: New Rules Emerge for Securing Supply
- IEA: 2010 Oil Demand to Rise 1.8%, but Refinery Runs Slipping
- Eni 2010-2013 Strategy Shifts Focus Upstream
- Big Diesel Spill at Refinery Caught Just in Time
- Argentina Gov’t. Blames Shell, Petrobras for Gasoline Shortages
- Correction: Feature Story of March 3
- Transportation & Logistics
- EU Vehicle Production Lowest since 1996
- IFQC Special Report: Electric Vehicles in the EU
Fuels & Processing
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CERAWeek: New Rules Emerge for Securing Supply
The cost of services and supplies skyrocketed through 2008, but has not dropped significantly since the onset of the global recession. Major suppliers gathered at CERA Week to talk about where the industry has been, where it is today, and where they think it is going.
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IEA: 2010 Oil Demand to Rise 1.8%, but Refinery Runs Slipping
The latest International Energy Agency (IEA) monthly Oil Market Report (released March 12) finds that compared to last month’s IEA forecast, first-quarter 2010 global crude refinery throughputs will fall by 140,000 barrels per day (b/d) to 72.5 million b/d.
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Eni 2010-2013 Strategy Shifts Focus Upstream
Italy-based Eni officials announced March 12 that the company’s 2010-013 strategic plan will shift investment toward upstream sectors rather than refining.
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Big Diesel Spill at Refinery Caught Just in Time
A worker at the Gladieux refinery in Huntington, Ind., forgot to shut-off a transfer pump from a diesel storage tank last week, causing 230,000 gallons of diesel to flood a tank dike area.
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Argentina Gov’t. Blames Shell, Petrobras for Gasoline Shortages
Argentina’s government, which imposes price controls on diesel and gasoline, is now blaming Shell and Petrobras for gasoline shortages.
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Correction: Feature Story of March 3
In the feature story S&P Analysis: U.S. Refiners More Efficient and Best Positioned that appeared on March 3, 2010, the sentence near the end of the article attributed to Tina Vital, equity analyst, Standard & Poors, did not accurately represent her comments.
Feature
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CERAWeek: Nissan on Sustainability, Emissions Reduction, Electric Vehicle Implementation
During the fourth day of IHS CERA’s CERAWeek, March 11, sustainability and alternative energy were the topics addressed during an afternoon plenary session. Nissan Motor Co.’s Senior Vice President of Technology Development Minoru Shinohara spoke to attendees of his company’s thinking and plans on the implementation of electric vehicles (EV), as well as the automaker’s approach to sustainability and the environment.
Key Market Prices
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Key Market Prices
Transportation & Logistics
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EU Vehicle Production Lowest since 1996
Total vehicle production in Europe including cars, trucks and buses fell by 17.3% in 2009 vs. 2008, to the lowest level since 1996, according to a report from ACEA, the European vehicle-maker association.
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IFQC Special Report: Electric Vehicles in the EU
The International Fuel Quality Center (IFQC) has just released a special report on electric vehicles in the European Union.
Margins & Economics
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Crude Futures Closed Lower on U.S. Economy Concerns
Crude oil futures settled lower March 12 on mixed signals about the U.S. economy. West Texas Intermediate (WTI) crude for April delivery fell 87¢, settling at US$81.24 per barrel (/bbl), and Brent crude for April delivery lost 89¢, closing at $79.39/bbl.
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Gulf Coast and New York 3-2-1 Crack Spread Up for Week Ending March 5
The 3-2-1 crack spread for the Gulf Coast rose 14% from US$8.03 per barrel (/bbl )to $9.14/bbl for the week ending March 5, and the New York 3-2-1 crack spread increased 71% from $5.42/bbl to $9.28/bbl for the same period.
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Prices Mixed for Week Ending March 12
U.S. Gulf Coast spot prices for aromatics and like products were mixed for the week ending March 12.
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Lyondell Chemical to Raise US$3.25 Billion in Debt Financing
Officials with LyondellBasell announced March 11 that the company’s wholly owned subsidiary, Lyondell Chemical Company, plans to raise US$3.25 billion of first priority debt, including an offering of senior secured notes in a private placement, as the company makes its way out of bankruptcy.
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Alternative Energies’ Growth Potential
Two new reports available from SBI Energy focus on the carbon emissions trading markets worldwide and clean coal energy technologies.
Public Policy
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Greens Sue European Commission over Biofuels ‘Cover-up’
A coalition of European environmental groups last week sued the European Commission over the Commission’s “refusal to release documents” indicating negative climate impacts of biofuels.
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EU ‘On Track’ to Meet 20% Renewables Target by 2020
The European Commission announced last week that Member States collectively are “on target” to meet a 20% renewable energy mandate by 2020, but didn’t specify whether that applies to a 10% biofuels mandate.
