- Key Market Prices
- WTI Falls US$1.51/bbl on Weak Economic Data
- Margins & Economics
- Gulf Coast Aromatic Prices Mostly Up for Week Ending February 4
- Gulf Coast 3-2-1 Crack Spread Falls 7% for Week Ending January 28
- NYMEX WTI Extends Losses; ICE Brent Back Below US$100/bbl
- Fuels & Processing
- Cistern Samples Show No Impact from Hovensa Refinery Releases
- Neste Oil’s 2010 Profits Rise Despite Turnaround at Porvoo Refinery
- Chevron to Sell its Fuels, Lubricants, Aviation Businesses in Spain
- UOP, Saudi Arabian University to Collaborate on Petrochemical Technology
- Flint Hills Takes Stake in Benefuel Biodiesel Technology
- Post-Macondo, Chevron Executive Seeks Simpler Operator Interfaces
- Air Products Taps RES for Hydrogen Pipeline Project
- Electric Power
- SoCal Edison Expanding ‘Neighborhood’ Solar DG Scheme
- Nanotechnology Dramatically Boosts DG, Transport Fuel Cells: Bing
- S&C Touts ‘Distributed Intelligence’ Schemes for DG, EVs
- Transportation & Logistics
- Florida Restaurant Chain, Utility Hook-Up on EV Recharging Stations
Fuels & Processing
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Cistern Samples Show No Impact from Hovensa Refinery Releases
The U.S. Environmental Protection Agency (EPA) announced on February 4 that cistern samples had no detectible levels of the chemicals released into the air by the Hovensa refinery on December 9, 2010 air in St. Croix, U.S. Virgin Islands. This EPA announcement comes just days after two other Hovensa announcements on January 26 – In one, the EPA announced fines and an air emission control cost settlement with Hovensa, and a second was made by Hovensa itself announcing crude run capacity reductions and staff restructurings.
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Neste Oil’s 2010 Profits Rise Despite Turnaround at Porvoo Refinery
Neste Oil announced February 4 that its 2010 operating profits improved to €240 million (US$325 million) versus €116 million (US$157 million) in 2009, despite a “major” turnaround at its Porvoo, Finland, refinery.
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Chevron to Sell its Fuels, Lubricants, Aviation Businesses in Spain
California-based multinational energy firm, Chevron Corp., announced February 4 that it has signed an agreement to sell Chevron España S.A. and Chevron Estaciones de Servicio S.L. to Compañía Española de Petróleos, S.A. (CEPSA).
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UOP, Saudi Arabian University to Collaborate on Petrochemical Technology
UOP LLC, a Honeywell company, announced February 1 that it will collaborate with the King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran, Saudi Arabia, for the development of catalytic processes for petrochemicals production.
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Flint Hills Takes Stake in Benefuel Biodiesel Technology
U.S.-based oil refiner Flint Hills Resources announced February 4 that it has taken an equity stake in Chicago-based biodiesel technology developer Benefuel.
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Post-Macondo, Chevron Executive Seeks Simpler Operator Interfaces
On January 31, a Chevron executive told attendees of the 16th GE Oil and Gas conference in Italy that April 20, 2010 changed his prior reticence to speak at prior conferences and that the Macondo incident “has created a shift in our business that is neither fully clear nor complete.” He called for simpler operator interfaces in complex industrial systems and better adherence to oil and gas industry standards such as those put out by the American Petroleum Institute covering the upstream to downstream industry.
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Air Products Taps RES for Hydrogen Pipeline Project
Louisiana-based Resource Environmental Solutions (RES) announced February 1 that it won a contract from Air Products to carry-out wetlands mitigation projects along the Louisiana segment of the 180-mile interstate Gulf Coast hydrogen pipeline project.
Feature
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Bingaman: Clean Energy, Including Gas, Needs New Policies for Development
Although proposed energy legislation in this year’s U.S. Congress is likely to be less ambitious in scope than climate change legislation that was bandied about the past few years, it isn’t likely legislators will be any less active on the energy front, according to Sen. Jeff Bingaman (D-N.M.).
Key Market Prices
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WTI Falls US$1.51/bbl on Weak Economic Data
Electric Power
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SoCal Edison Expanding ‘Neighborhood’ Solar DG Scheme
Southern California Edison (SCE) announced February 1 that it has brought on-line seven new “neighborhood” solar voltaic distributed generation (DG) sites – effectively adding 12.5 million more Watts of alternating-current (AC) power in Ontario and Redlands, Calif.
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Nanotechnology Dramatically Boosts DG, Transport Fuel Cells: Bing
California-based Bing Energy announced February 1 that it just inked a commercialization deal with Florida State University (FSU) for a cheaper, smaller, lighter and more durable fuel-cell technology for both distributed generation (DG) electric power and transport applications.
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S&C Touts ‘Distributed Intelligence’ Schemes for DG, EVs
Chicago-based S&C Electric announced February 1 new “distributed intelligence” product launches designed to overcome problems with distributed generation (DG) and battery recharge power demands from electric vehicles (EVs).
Transportation & Logistics
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Florida Restaurant Chain, Utility Hook-Up on EV Recharging Stations
Sunshine Restaurant Corp. (developer of Buffalo Wild Wings restaurants/sports bars) announced February 3 that it has joined electric utility Progress Energy Florida and NovaCharge to introduce Florida’s first of a series of restaurant-based, electric vehicle (EV) charging stations.
Margins & Economics
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Gulf Coast Aromatic Prices Mostly Up for Week Ending February 4
U.S. Gulf Coast aromatic spot prices were mostly up and other markets showed gains for the week ending February 4.
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Gulf Coast 3-2-1 Crack Spread Falls 7% for Week Ending January 28
The 3-2-1 crack spread for the Gulf Coast fell 7% from US$16.43 per barrel (/bbl) to $15.33/bbl for the week ending January 28.
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NYMEX WTI Extends Losses; ICE Brent Back Below US$100/bbl
NYMEX light sweet crude for March delivery settled at US$89.03 per barrel (/bbl), down $1.51 on February 4, with mainly negative economic data providing resistance.
