- Key Market Prices
- WTI Ends the Week Lower
- Public Policy
- California CCS Report: Technology Safe, but More Legislation Needed
- EPA: Obama Review Won’t Stop Refinery, Power-Plant GHG Rules
- Margins & Economics
- Gulf Coast Aromatic Prices See Gains for Week Ending January 21
- Gulf Coast 3-2-1 Crack Spread Up 6% for Week Ending January 21
- WTI Settles Lower at Week’s End
- Fuels & Processing
- API: U.S. Petroleum Demand Rose 2.3% in 2010 vs 2009; Diesel Shines
- Refinery Upgrade for Sinopec’s Guangdong Refinery
- Technip Wins Engineering Contract for Bulgaria Resid Hydrocracker
- 2010 Frac Spread: Ethane Margins Fall, Other NGLs Show Improvement
- Q&A With Valero Energy on E15
- UOP’s Ecofining Selected for DOE-Backed BioDiesel Project
- Coskata to Receive US$250-Million Loan Guarantee from USDA
- Transportation & Logistics
- Battery-Electric Buses Debuting in China
- LED Headlights Could Boost EV Range by Six Miles
Fuels & Processing
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API: U.S. Petroleum Demand Rose 2.3% in 2010 vs 2009; Diesel Shines
The American Petroleum Institute (API) announced January 21 that total U.S. petroleum demand rose 2.3% in 2010 versus 2009, and December 2010 demand was up 1.2% versus December 2009.
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Refinery Upgrade for Sinopec’s Guangdong Refinery
Maoming Petrochemical in Guangdong province, China, has begun its upgrading project, which will increase its refining capacity by 48% to 20 million metric tons (tonnes) per year, according to its parent company, Sinopec Group.
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Technip Wins Engineering Contract for Bulgaria Resid Hydrocracker
Technip announced January 21 that it won a €70 million (US$ million) contract for “phase one” of a heavy residue hydrocracking project at the Burgasnefteproekt EOOD refinery located in Burgas, Bulgaria.
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2010 Frac Spread: Ethane Margins Fall, Other NGLs Show Improvement
Several weeks ago, Hart Energy reviewed natural gas liquids (NGL) prices for 2010, which were generally strong from the beginning of the year to the end of the year (see Gas Processors Report 1/06/11). The frac spread for the same time period was also reviewed and shows similar results with the sizable exception of ethane – the lone NGL to have a negative frac spread in 2010.
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Q&A With Valero Energy on E15
On January 21, the U.S. Environmental Protection Agency (EPA) waived a limitation on selling gasoline that contains more than 10% ethanol for model year (MY) 2001 through 2006 passenger vehicles, including cars, SUVs, and light pickup trucks. The waiver applies to fuel that contains up to 15% ethanol – known as E15.
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UOP’s Ecofining Selected for DOE-Backed BioDiesel Project
U.S. Energy Secretary Steven Chu today announced on January 20 the offer of a conditional commitment for a US$241 million loan guarantee to Diamond Green Diesel, LLC, in support of the proposed joint venture between Valero Energy Corp. and Darling International Inc. The loan guarantee will support an innovative project incorporating Universal Oil Products (UOP), Ecofining hydrotreating/isomerization process to produce 137-million gallons per year renewable diesel within a new facility in Norco, Louisiana, about 20 miles west of New Orleans.
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Coskata to Receive US$250-Million Loan Guarantee from USDA
The United States Department of Agriculture (USDA) notified Coskata, Inc. that it will provide a US$250-million loan guarantee in support of a commercial biorefinery that will utilize Coskata’s technology.
Feature
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EPA Approves E15 for MY 2001-2006 Cars, Light Trucks
Following its October 13, 2010 decision to allow the use of E15 in model year (MY) 2007 and newer cars and light trucks, the U.S. Environmental Protection Agency (EPA) on January 21 announced that it has waived a limitation on selling gasoline that contains more than 10% ethanol for model year (MY) 2001 through 2006 passenger vehicles, including cars, SUVs and light pickup trucks. “Taken together, the two waiver decisions allow the introduction into commerce of E15 for use in MY 2001 and newer light-duty motor vehicles if … conditions are met,” EPA’s newly issued waiver stated.
Key Market Prices
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WTI Ends the Week Lower
Transportation & Logistics
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Battery-Electric Buses Debuting in China
By the end of 2011, the city of Jiangyin, China, aims to become the nation’s first commercial operator of battery-electric buses, initially with a fleet of 10 vehicles.
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LED Headlights Could Boost EV Range by Six Miles
U.S.-based Osram Sylvania announced January 19 that an electric vehicle (EV) could get an extra six miles of range between battery recharge simply by switching from conventional headlights to light-emitting diode (LED) headlights.
Margins & Economics
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Gulf Coast Aromatic Prices See Gains for Week Ending January 21
U.S. Gulf Coast aromatic spot prices and other markets were mostly higher for the week ending January 21.
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Gulf Coast 3-2-1 Crack Spread Up 6% for Week Ending January 21
The 3-2-1 crack spread for the Gulf Coast was up 6% from US$13.23 per barrel (/bbl) to $13.83/bbl for the week ending January 21. The New York 3-2-1 crack spread advanced 4% from $14.41/bbl to $15.03/bbl for the same period.
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WTI Settles Lower at Week’s End
NYMEX light sweet crude for March delivery settled at a two-week low on January 21, closing at US$89.11per barrel (/bbl), down 48¢.
Public Policy
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California CCS Report: Technology Safe, but More Legislation Needed
A pioneering advisory report for California Energy Commission (CEC), California Air Resources Board (CARB) and California Public Utilities Commission (CPUC) finds that carbon capture and storage (CCS) technology is proven and safe, but more legislation is needed to smooth commercial adoption.
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EPA: Obama Review Won’t Stop Refinery, Power-Plant GHG Rules
The U.S. Environmental Protection Agency (EPA) announced January 18 that President Barack Obama’s announcement of a new “regulatory review” that might soften some regulatory burdens on U.S. businesses won’t stop EPA from issuing final rules forcing oil refiners, power plants and other big industries to slash greenhouse gas (GHG) emissions.
