- Key Market Prices
- WTI Gains on Lower Dollar and EU’s Greek Debt Agreement
- Margins & Economics
- Saudi Arabian Supplies Sought as Iran Cuts Crude Exports to India
- SunCoke Prices IPO Shares at Midpoint of Expected Range
- IEA, DOE Say First Petroleum Release is Enough for Now
- Crude Futures Advance on EU Debt Plan, U.S. Economic Data
- Fuels & Processing
- DOE: Saudi Crude Storage Withdrawals Needed for Direct-Burn Power Generation
- CB&I Wins US$500-Million LNG Storage Construction Contract
- E.On to Feed ‘Green’ Biomethane to Natural Gas Pipeline Networks
- Western Wisconsin Energy Looking to Sell Ethanol Plant
- LS9, HCL CleanTech Get US$9 Million from DOE
- DLA Issues Solicitation for HRJ/HRD Fuels
- Transportation & Logistics
- Nissan Upgrades ‘Leaf’ EV for 2012 Model Year
Fuels & Processing
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DOE: Saudi Crude Storage Withdrawals Needed for Direct-Burn Power Generation
The U.S. Department of Energy’s Energy Information Administration (EIA) published its weekly analysis of crude market fundamentals and highlighted how cyclical power use in the Saudi summer requires withdrawals from crude and petroleum stockpiles to feed direct-burn thermal power plants.
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CB&I Wins US$500-Million LNG Storage Construction Contract
CB&I has been awarded a contract, valued in excess of US$500 million, for the engineering, fabrication and construction of two 160,000 cubic meter LNG storage tanks, as well as additional work for a confidential liquefied natural gas (LNG) liquefaction project in the Asia Pacific region, according to a July 21 company announcement.
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E.On to Feed ‘Green’ Biomethane to Natural Gas Pipeline Networks
German utility giant E.On announced July 19 that it plans to feed biomethane into a natural gas pipeline network in its home market by year-end 2011.
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Western Wisconsin Energy Looking to Sell Ethanol Plant
Western Wisconsin Energy’s (WWE) board of directors has been exploring options and strategies for their business over the last several months, the company reported this month, and based on the information provided by Ascendant Partners, the board determined that the most advantageous option for the members is to sell the plant.
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LS9, HCL CleanTech Get US$9 Million from DOE
LS9 Inc. on July 18 announced that it has been awarded in conjunction with partner HCL CleanTech Ltd., a US$9 million grant from the Department of Energy (DOE) to improve and demonstrate an integrated process to convert biomass feedstocks into fermentable sugars and then into diesel and other fuel and chemical products.
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DLA Issues Solicitation for HRJ/HRD Fuels
Following the approval of hydrotreated renewable jet by ASTM on July 1, the U.S. military is now moving to acquire volumes of the fuel.
Feature
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Debate Continues on Ethanol’s Tie to Commodity Price Hikes
In its monthly World Agriculture Supply and Demand Estimates (WASDE) report released July 12, the U.S. Department of Agriculture (USDA) said the amount of corn used for ethanol would be more than the amount of corn used to feed livestock, marking the first time this shift has occurred.
Key Market Prices
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WTI Gains on Lower Dollar and EU’s Greek Debt Agreement
Electric Power
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Bloomberg to Donate US$50 Million to Sierra Club for Anti-Coal Campaign
Billionaire New York Mayor Michael Bloomberg (I) will take US$50 million from his charitable organization to give to the Sierra Club for an anti-coal campaign.
Transportation & Logistics
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Nissan Upgrades ‘Leaf’ EV for 2012 Model Year
Nissan announced July 19 that it has upgraded its “Leaf” electric vehicle (EV) for model year 2012 in response to feedback from thousands of existing “Leaf” owners.
Margins & Economics
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Saudi Arabian Supplies Sought as Iran Cuts Crude Exports to India
Once again Saudi Arabia is being called upon to add liquidity to tight crude oil markets – this time by replacing Iranian exports of crude to India in August as Iran begins cutting off supplies due to India’s payment delays, so read a July 21 Bloomberg report.
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SunCoke Prices IPO Shares at Midpoint of Expected Range
SunCoke Energy, Inc. priced its common shares at US$16 under its initial public offering of 11.6 million shares on July 20 at the midpoint of the expected range, according to a pricing sheet dated July 21.
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IEA, DOE Say First Petroleum Release is Enough for Now
Four weeks after the International Energy Agency and the U.S. Department of Energy called for a preemptive petroleum release targeted at 60 million barrels from the collective public and industry-held stockpiles of 12 nations, news broke that a second round of releases will not be called for at present.
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Crude Futures Advance on EU Debt Plan, U.S. Economic Data
NYMEX light, sweet crude for September delivery settled at US$99.13 per barrel (/bbl), up 73¢ on July 21, buoyed by an agreement in Europe on a plan to solve the region’s sovereign-debt crisis and positive economic data.
Public Policy
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Dow Slams Pickens CNG/LNG Subsidy Scheme in U.S. Senate Hearing
Dow Chemical’s vice president for energy George Biltz on July 19 told a U.S. Senate Committee on Energy and Natural Resources hearing on the future of natural gas that U.S. petrochemical producers and other manufacturing industries would suffer if Congress were to pass the pending “NatGas Act” bill giving massive taxpayer subsidies to convert highway vehicles to compressed natural gas (CNG) or liquefied natural gas (LNG).
