- Key Market Prices
- WTI Falls on Stronger Dollar
- Public Policy
- USDA Payments Going to Producers in 41 States for Advanced Biofuels
- DOE Finalizes US$105-Million Loan Guarantee for POET’s ‘Project LIBERTY’
- Margins & Economics
- Gulf Coast 3-2-1 Crack Spread Falls 14% for Week Ending September 23
- Gulf Coast Aromatics Prices Decline for Week Ending September 30
- Crude Futures Plunge US$2.94/bbl on Pre-Weekend Selling
- Fuels & Processing
- Shell’s Singapore Refinery Fire Extinguished
- PetroSA in Talks with Sinopec on Coega Refinery Project
- Air Products Takes 25% Stake in Gases, Equipment Businesses of Abdullah Hashim Group
- Bangladesh to Establish Floating LNG Terminal by 2013
- Earthquake-Devastated Areas in Japan Will Get ‘Adequate’ Kero - PAJ
- Lukoil to Install Measurement/Control Devices at Bulgaria Refinery
- Electric Power
- ZeroPoint Launches Biomass Gasification CHP in Germany
- Transportation & Logistics
- NASCAR Passes One Million Miles on E15
Fuels & Processing
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Shell’s Singapore Refinery Fire Extinguished
Royal Dutch Shell confirmed September 29 that the fire at its Pulau Bukom, Singapore, refinery has been extinguished. The fire was confined to Pulau Bukom, which is more than five kilometers away from the Singapore mainland, according to the company.
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PetroSA in Talks with Sinopec on Coega Refinery Project
PetroSA – the national oil company of South Africa and operator of a pioneering gas-to-liquids (GTL) fuels plant – on September 30 signed a memo of understanding (MoU) with Sinopec that could lead to cooperation on construction of the proposed “Mthombo” oil refinery at Coega, South Africa.
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Air Products Takes 25% Stake in Gases, Equipment Businesses of Abdullah Hashim Group
Air Products announced September 29 that it signed a deal to acquire a 25% stake in the gases and equipment businesses of Abdullah Hashim Industrial Gases & Equipment Co. Ltd. (AHG) in Saudi Arabia.
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Bangladesh to Establish Floating LNG Terminal by 2013
Bangladesh will invest US$500 million to establish its first floating terminal for importing liquefied natural gas (LNG), according to a September 27 Energy Bangla (Bangladesh) report citing a senior energy official.
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Earthquake-Devastated Areas in Japan Will Get ‘Adequate’ Kero - PAJ
The Petroleum Association of Japan (PAJ) announced September 29 that areas of Japan devastated by the March 2011 earthquake and tsunami will indeed receive adequate kerosene supplies this winter.
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Lukoil to Install Measurement/Control Devices at Bulgaria Refinery
Russian oil company Lukoil will install 80% of 276 measurement and control devices at its Neftochim Burgas oil refinery and Rosenets oil terminal within two to three months, according to a September 28 ITAR-TASS (Moscow) report citing Lukoil President Vagit Alekperov.
Feature
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U.S. East Coast’s Changing Refinery Dynamics
Not so long ago, America’s “need” to increase refining capacity was the big theme in the oil industry. Now, the big challenge seems to be keeping some of the existing refineries open. In the U.S. Northeast, remnants of the Delaware River’s once-massive oil refining industry were again shaken on September 27 when ConocoPhillips Co. said it would sell or permanently shut its 185,000 barrel-per-day (b/d) Trainer, Pa. refinery.
Key Market Prices
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WTI Falls on Stronger Dollar
Electric Power
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ZeroPoint Launches Biomass Gasification CHP in Germany
New York-based ZeroPoint Clean Tech announced September 28 that it launched “phase one” of the field commissioning of its biomass-gasification combined heat and power (CHP) scheme at a project site in Schwarze Pumpe, Germany.
Transportation & Logistics
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NASCAR Passes One Million Miles on E15
In a white paper issued September 21, NASCAR announced it has accumulated more than 1.3 million miles of driving in 2011 accumulated in practice, qualifying and racing laps in NASCAR racing vehicles in the NASCAR Sprint Cup Series, Nationwide Series and Camping World Truck Series.
Margins & Economics
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Gulf Coast 3-2-1 Crack Spread Falls 14% for Week Ending September 23
The 3-2-1 crack spread for the Gulf Coast lost 14% from US$33.05 per barrel (/bbl) to $28.14/bbl for the week ending September 23. The New York 3-2-1 crack spread tumbled 13% from $34.91/bbl to $30.38/bbl for the same period.
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Gulf Coast Aromatics Prices Decline for Week Ending September 30
U.S. Gulf Coast aromatic spot prices fell and other prices were mixed for the week ending September 30.
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Crude Futures Plunge US$2.94/bbl on Pre-Weekend Selling
NYMEX light, sweet crude for November delivery settled at US$79.20/per barrel (/bbl), down $2.94 on September 30, in response to a sell-off in the stock market and a firm dollar driving commodities lower.
Public Policy
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USDA Payments Going to Producers in 41 States for Advanced Biofuels
U.S. Agriculture Secretary Tom Vilsack on September 27 announced that U.S. Department of Agriculture (USDA) will make payments to more than 160 energy producers in 41 states to support and ensure the production and expansion of advanced biofuels.
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DOE Finalizes US$105-Million Loan Guarantee for POET’s ‘Project LIBERTY’
U.S. Energy Secretary Steven Chu announced September 23 that the Department of Energy (DOE) has finalized a US$105-million loan guarantee to support the development of one of the nation’s first commercial-scale cellulosic ethanol plants.
