- Key Market Prices
- WTI Closes Higher on Better-than-Expected U.S. Retail Sales
- Public Policy
- Wind, Oil, Gas Projects Receiving Faster U.S. Review
- Margins & Economics
- IEA Cuts Oil Demand Forecast, Again
- Gulf Coast Aromatics Prices Advance for Week Ending October 14
- Gulf Coast 3-2-1 Crack Spread Up 22% for Week Ending October 7
- Crude Futures Rally on Upbeat U.S. Retail Sales Data, Higher Euro
- Fuels & Processing
- Technip Wins ExxonMobil Contract for U.S. Lubricant Base Stock Plant
- Owner of Louisiana Refinery Faces Record US$12-Million Fine
- Codexis Names Veteran Chemical Executive to Lead Codexis do Brasil
- ArborGen, University of Florida to Advance Pine-Based Biofuels
- Infineum Appoints New CEO
- Electric Power
- Hawaiian Electric, Phycal Ink Agreement to Test Algal Biofuel at Kahe Power Plant
- Pratt & Whitney Inks First-Ever Rankine Cycle Power System at Forest Products Plant
- Transportation & Logistics
- Nissan’s Latest ‘Next-Generation’ Fuel Cell: One-Sixth the Prior Cost
Fuels & Processing
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Technip Wins ExxonMobil Contract for U.S. Lubricant Base Stock Plant
Technip announced October 12 that it was awarded a contract by ExxonMobil Chemical for a grassroots lubricant base stock facility to be built at ExxonMobil’s integrated refinery and chemical plant complex in Baytown, Texas.
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Owner of Louisiana Refinery Faces Record US$12-Million Fine
A Texas company that owns an oil refinery in southwestern Louisiana pleaded guilty on October 12 to felony violations of the federal Clean Air Act and obstructing justice and agreed to pay a record fine.
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Codexis Names Veteran Chemical Executive to Lead Codexis do Brasil
Codexis, Inc. on October 11 announced that Achilles Antonio Clement has been named the company’s director of Latin America. He will head the newly-formed Codexis do Brasil Participacoes Ltda., with responsibility for managing Codexis’ expanding role in Latin America.
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ArborGen, University of Florida to Advance Pine-Based Biofuels
ArborGen, a company that leads development and commercialization of technologies that improve the productivity of trees for wood, fiber and energy, announced October 4 that it will serve on a University of Florida-led research team to advance pine-based transportation biofuels.
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Infineum Appoints New CEO
U.K.-based Infineum International on October 13 announced the appointment of Xavier le Mintier as CEO, replacing Dominique Fournier who will retire at the end of 2011 after seven years at Infineum.
Feature
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Poland Lobbies Against EU Shale Gas Regulations
Shale gas remains controversial in Europe with national debates polarized between eager acceptance and total rejection. Poland, long seen as promoting a common European approach to shale gas, has published a surprising study describing possible EU regulation on the industry as “unfeasible.”
Key Market Prices
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WTI Closes Higher on Better-than-Expected U.S. Retail Sales
Electric Power
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Hawaiian Electric, Phycal Ink Agreement to Test Algal Biofuel at Kahe Power Plant
Hawaiian Electric Co. has reached agreement with Phycal, Inc. for a supply of biofuel derived from algae for testing at Kahe Generating Station.
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Pratt & Whitney Inks First-Ever Rankine Cycle Power System at Forest Products Plant
Pratt & Whitney Power Systems announced October 13 its first-ever contract for an Organic Rankine Cycle (ORC) waste heat recovery power-plant system at a forest products plant in Vanderhoof, British Columbia, Canada.
Transportation & Logistics
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Nissan’s Latest ‘Next-Generation’ Fuel Cell: One-Sixth the Prior Cost
Nissan on October 13 unveiled a “next generation” fuel cell stack that increases power density 2.5 times over the 2005 version for fuel cell electric vehicles (EVs), while slashing costs to one-sixth of the 2005 version.
Margins & Economics
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IEA Cuts Oil Demand Forecast, Again
The International Energy Agency’s latest Oil Market Report (released October 12) once again trims its forecast for global oil demand in 2011 thanks to economic trouble signs and “significant downside risks.”
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Gulf Coast Aromatics Prices Advance for Week Ending October 14
U.S. Gulf Coast aromatic spot prices were mostly higher, except xylene, and other prices were mixed for the week ending October 14.
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Gulf Coast 3-2-1 Crack Spread Up 22% for Week Ending October 7
The 3-2-1 crack spread for the Gulf Coast gained 22% from US$27.40 per barrel (/bbl) to $33.39/bbl for the week ending October 7. The New York 3-2-1 crack spread was up 18% from $30.32/bbl to $35.84/bbl for the same period.
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Crude Futures Rally on Upbeat U.S. Retail Sales Data, Higher Euro
NYMEX light, sweet crude for November delivery settled at US$86.80/per barrel (/bbl), up $2.57 on October 14, in response to stronger-than-expected U.S. retail data sales.
Public Policy
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Wind, Oil, Gas Projects Receiving Faster U.S. Review
The U.S. White House earlier this week said that wind, oil and natural gas projects were selected for “expedited permitting and review” as part of an Obama administration effort to speed up more than a dozen infrastructure projects across the U.S., according to an October 11 Argus report.
