- Key Market Prices
- WTI Falls Nearly 6% from Previous Day Fueled by Weak Economic Data
- Margins & Economics
- Wilhelmshaven RTT Conversion Expected to Continue Under New Owner
- Black Elk Refining to Expand Newly-Acquired Wyoming Refinery
- Crude Futures Plunge US$5.20/bbl on Economic Fears, Stocks Sell-Off
- Fuels & Processing
- Hess, Global Win Contracts for U.S. DOE’s ULSD/Heating Oil Reserve
- Valero Restarts Memphis Refinery, Updates 3Q Operating Guidance
- Musket Crude-by-Rail Project to Increase Bakken Oil Takeaway
- Thai Oil May Invest Up to US$1Billion to Boost Refining, Petchem Capacity
- SES Extends Deadline on Selling 43.5% Stake to China Energy
- Long-Range PetroVietnam Goal: Seven Refineries, 12 Million-b/d Capacity
- Oil India Scraps CTL Refinery Project
- Electric Power
- Mikro Inks Gas-Turbine Deal with Siemens; Represents Boost for IGCC
- Air Products Receives Planning OK for U.K. WTE Project
- Transportation & Logistics
- GM Inks EV Battery Production Deal with A123
Fuels & Processing
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Hess, Global Win Contracts for U.S. DOE’s ULSD/Heating Oil Reserve
The U.S. Department of Energy (DOE) announced August 18 that it awarded contracts to Hess and Global for commercial storage of 650,000 barrels of ultra low sulfur distillate (ULSD) for the U.S. “Northeast Home Heating Oil Reserve” (NEHHOR).
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Valero Restarts Memphis Refinery, Updates 3Q Operating Guidance
San Antonio-based Valero Energy Corp. announced August 18 that it’s in the process of restarting units at its 180,000 barrel-per-day (b/d) Memphis refinery, which was shut on Aug. 5 after a fire erupted in a crude distillation unit.
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Musket Crude-by-Rail Project to Increase Bakken Oil Takeaway
Musket Corp. is undertaking a major expansion of its Dore, N.D., crude-by-rail facility which offers high-speed loading capabilities to enable the movement of unit trains carrying crude oil from the Bakken shale formation in Williston Basin to markets throughout the country.
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Thai Oil May Invest Up to US$1Billion to Boost Refining, Petchem Capacity
Bangkok-based Thai Oil, the country’s top oil refiner, plans to invest up to US$1 billion over the next five years to expand capacity at its refinery and produce more value-added petrochemical products, according to an August 17 Reuters report citing the company’s chief executive.
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SES Extends Deadline on Selling 43.5% Stake to China Energy
Houston-based coal-to-liquids (CTL) specialist Synthesis Energy Systems (SES) announced August 16 an agreement with China-based Zhongjixuan Investment Management Co. Ltd. (ZJX) and China Energy Industry Holding Group (China Energy) to extend the closing period of their March 31, 2011, share-purchase agreement through December 31, 2011.
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Long-Range PetroVietnam Goal: Seven Refineries, 12 Million-b/d Capacity
State-owned oil and gas group, PetroVietnam, will invest in at least four refinery projects in the next few years in order “to operate between six and seven oil refineries” by 2025, according to an August 16 Vietnam News Brief Service report.
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Oil India Scraps CTL Refinery Project
State-owned Oil India Ltd. (OIL) has decided to scrap an earlier plan to build a coal-to-liquids (CTL) refinery, according to an August 16 report by the Financial Chronicle (India).
Feature
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Existing U.S. Nuclear Waste Policy ‘All But Broken Down’
Since the U.S. Congress passed the Nuclear Waste Policy Act (NWPA) in 1982, the country has accumulated an estimated 70,000 tons of spent nuclear fuel and radioactive waste spread among 121 sites in 35 states.
Key Market Prices
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WTI Falls Nearly 6% from Previous Day Fueled by Weak Economic Data
Electric Power
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Mikro Inks Gas-Turbine Deal with Siemens; Represents Boost for IGCC
U.S. Department of Energy (DOE) announced August 16 that an advanced turbine technology developed by Virginia-based Mikro Systems with DOE financial help just nabbed a license deal with Siemens Energy.
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Air Products Receives Planning OK for U.K. WTE Project
Pennsylvania-based Air Products and Chemicals, Inc. announced August 10 that it has received planning permission from the Stockton-on-Tees-Borough Council for its proposed Tees Valley Renewable Energy Facility tapping waste-to-energy (WTE) technology including Alter NRG gasification.
Transportation & Logistics
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GM Inks EV Battery Production Deal with A123
General Motors Co. (GM) announced August 11 that it has awarded an electric-vehicle (EV) battery production contract to Massachusetts-based A123 Systems for an advanced “nanophosphate” lithium-ion technology for future GM EVs.
Margins & Economics
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Wilhelmshaven RTT Conversion Expected to Continue Under New Owner
Hestya Energy B.V. has agreed to purchase the Wilhelmshaven oil refinery, tank farm and marine terminal in Germany from an affiliate of ConocoPhillips Co., and executives have indicated that a refinery-to-terminal (RTT) conversion currently underway at the facility will continue under their ownership, according to an August 15 Bloomberg report.
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Black Elk Refining to Expand Newly-Acquired Wyoming Refinery
The new owners of the 12,500 barrel-per-day (b/d) refinery at the Wyoming Refining Co. in Newcastle plan to expand capacity to between 2,000 b/d and 4,000 b/d, according to an August 9 Associated Press(AP) report.
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Crude Futures Plunge US$5.20/bbl on Economic Fears, Stocks Sell-Off
NYMEX light, sweet crude for September delivery closed at US$82.38/per barrel (/bbl), down $5.20 on August 18, as the market responded to a series of disappointing economic reports signaling contracting business activity.
