- Key Market Prices
- WTI Settles Lower on Weaker Dollar and Crude Supply Worries
- Margins & Economics
- Total Proceeding With Lindsey Refinery Sale Discussions
- Chevron: 4Q Earnings Improvement Seen Thanks to Colonial Asset Sale
- NYMEX WTI Retreats; ICE Brent Remains Above US$98/bbl
- Fuels & Processing
- Marathon Spins-Off Downstream Business
- Valero to Invest US$50 Million in Cellulosic-Ethanol Plant
- Flood-Induced Outage May Cost Caltex Australia Up to US$10 Million
- Japanese Refiner Expanding Solar-Energy, Fuel-Cell Businesses
- Regal Launches ‘Underground Coal to Liquids’ Company
- Study: Not Enough Infrastructure to Increase Ethanol Consumption in U.S.
- Foster Wheeler to Build Biomass-Fired Generator in Spain
- Saudi Prince Among Suitors Who May Buy Wilhelmshaven Refinery
Fuels & Processing
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Marathon Spins-Off Downstream Business
Houston-based Marathon Oil Corp.’s board of directors announced January 13 that they’ve approved a plan to spin-off the downstream portion of the business into a company named Marathon Petroleum Corp. (MPC).
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Valero to Invest US$50 Million in Cellulosic-Ethanol Plant
Global oil refiner Valero Energy Corp. will invest up to US$50 million in one of the first commercial-scale plants to convert wood into ethanol.
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Flood-Induced Outage May Cost Caltex Australia Up to US$10 Million
Caltex Australia said an unscheduled outage at its Lytton refinery in Queensland will likely cost the company A$5-10 million (US$5-US$10 million) in 2011 after-tax profits.
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Japanese Refiner Expanding Solar-Energy, Fuel-Cell Businesses
Japanese oil refiner JX Energy is launching a market offensive in its home market with solar power generation and fuel cell systems.
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Regal Launches ‘Underground Coal to Liquids’ Company
Australia-based Regal Resources announced January 13 that it’s launching a special-purpose joint-venture company called “UCTL Pty. Ltd.” with partner Forbes Oil & Gas.
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Study: Not Enough Infrastructure to Increase Ethanol Consumption in U.S.
A new study from Purdue University, Alternative Pathways for Fulfilling the RFS Mandate, has found that the United States does not have the infrastructure needed in order to meet the federally mandated Renewable Fuel Standard (RFS2), but while these limits cannot be met with ethanol, increases in cellulosic and next generation biofuels would make meeting the targets possible.
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Foster Wheeler to Build Biomass-Fired Generator in Spain
New-Jersey based Foster Wheeler AG announced January 13 that a subsidiary of its global power group has been awarded a contract by Ingeteam Power Plants, S.A. to design, supply and erect a bubbling fluidized-bed (BFB) steam generator fueled by biomass in Spain. The produced steam will be used to generate power for Spain’s Cantabria region.
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Saudi Prince Among Suitors Who May Buy Wilhelmshaven Refinery
Parties interested in keeping the ConocoPhillips Wilhelmshaven Refinery in the business of refining oil heard that a Saudi Prince and three other suitors are showing interest in the plant, according to a January 12 and 13 reports at Nordwest Zeitung (NWZ) from Germany.
Feature
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Alaska Pipeline Leak Puts U.S. at a ‘Point of Urgency’
With the Macondo disaster in the Gulf of Mexico and upsets on the Enbridge pipeline from Canada still impacting the North American energy industry, Hart Energy’s Refinery Tracker (RT) contacted the Alaska-based operator of the latest pipeline disruption, who detailed near-term plans amid a “point of urgency.”
Key Market Prices
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WTI Settles Lower on Weaker Dollar and Crude Supply Worries
Transportation & Logistics
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Clean Energy Fuels Corp.’s CNG Station to Refuel Jersey City Bus Fleet
Clean Energy Fuels Corp. announced January 12 that has been awarded a contract to build and operate a new fast-fill, compressed natural gas (CNG) fueling station to support the deployment of CNG shuttle buses by the Atlantic City Jitney Association (ACJA) of New Jersey.
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Lubrizol Gasoline Fuel Additive Meets Top Tier Standard
Ohio-based specialty chemical manufacturer Lubrizol Corp. confirmed January 13 that its portfolio of fuel additives meet the updated Top Tier detergent gasoline standard.
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Chevy ‘Volt’ EV Recharge System Wins Safety Certification
Intertek inspection services announced January 12 that it has certified the General Motors electric vehicle (EV) charging station and portable charging cordset to U.S. and Canadian electrical product safety standards.
Margins & Economics
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Total Proceeding With Lindsey Refinery Sale Discussions
Europe’s largest refinery is in talks to sell its Lindsey refinery in the U.K., the Wall Street Journal (WSJ) reported January 13, citing persons familiar with the situation. A deal could come as early as the end of the first quarter of 2011, the report noted.
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Chevron: 4Q Earnings Improvement Seen Thanks to Colonial Asset Sale
In the “interim update” report, Chevron credited the higher, fourth-quarter 2010 earnings to a nearly US$400-million gain on the sale of Chevron’s minority interest in Colonial Pipeline, the U.S.’s largest refined products pipeline.
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NYMEX WTI Retreats; ICE Brent Remains Above US$98/bbl
NYMEX light sweet crude for February delivery closed at US$91.40 per barrel (/bbl), down 46¢ on January 13, as a larger-than-forecast increase in U.S. jobless claims signaled that demand will be slow to rebound.
