- Key Market Prices
- Crude Futures Slide US$1.98/bbl
- Margins & Economics
- Petroplus Stoppage Nears as Oil Traders Halt Deals
- NYMEX WTI Reverses Direction on Stronger Dollar
- Green Plains to Acquire JW Grain
- Fuels & Processing
- U.S. EIA: Refinery Shutdowns May Threaten Northeast ULSD Supply by Mid-2012
- Petroecuador to End Crude-for-Products Deal with ANCAP - Report
- Marquis Energy Puts Illinois Ethanol Plant Expansion on Hold
- Coca-Cola Partners with Avantium, Gevo, Virent on Plant-Derived Plastics
Fuels & Processing
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U.S. EIA: Refinery Shutdowns May Threaten Northeast ULSD Supply by Mid-2012
The U.S. Energy Information Administration (EIA) on December 23 released a study finding that Sunoco, Inc.’s recent shutdown of its Marcus Hook, Pa., refinery, its planned sale or shutdown of the firm’s Philadelphia plant in mid-2012 – along with the ConocoPhillips Co.’s (CoP) shut-down of CoP’s Trainer, Pa., refinery, could collectively trigger a regional supply crisis for ultra-low sulfur diesel (ULSD) by mid-2012.
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Petroecuador to End Crude-for-Products Deal with ANCAP - Report
Ecuadorean President Rafael Correa announced December 24 that a contract with Uruguay’s ANCAP where crude is sent to Uruguay in exchange for refined products will not be renewed, according to a December 27 Argus report.
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Marquis Energy Puts Illinois Ethanol Plant Expansion on Hold
Privately held Marquis Energy LLC has delayed expansion plans to double production capacity after a tax-assessment dispute with the Putnam County Assessment Office in Illinois, according to a December 27 report from Industrial Info Resources (IIR).
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Coca-Cola Partners with Avantium, Gevo, Virent on Plant-Derived Plastics
The Coca-Cola Co. announced December 15 multi-million dollar partnership agreements with three leading biotechnology companies to accelerate development of the first commercial solutions for next-generation PlantBottle packaging made 100% from plant-based materials.
Feature
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Made in the USA: Abundant Shale Gas and the Global LNG Supply-Demand Dynamic
Less than a decade ago, major American energy companies were investing billions in constructing new terminals for importing liquefied natural gas (LNG) — the cooled, dense state of methane that makes it economical for it to be transported by ship.
Key Market Prices
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Crude Futures Slide US$1.98/bbl
Electric Power
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Wärtsilä Wins Biggest-Ever Power-Plant Order; Natural Gas/Fuel-Oil Capable
Wärtsilä announced December 27 that it won a €150-million (US$196-million) contract from Empresa Generadora de Electricidad Haina (EGE Haina) to supply a 215-megawatt (MW) “Flexicycle” dual-fuel power plant for the Dominican Republic.
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Vattenfall to Burn Biomass at Dutch Power Plant in 2013
Swedish state-owned utility Vattenfall’s 650-megawatt (MW) Hemweg coal-fired power plant will start burning up to 15% biomass in 2013, pending a final board decision in the second quarter of next year, according to a December 23 Argus report.
Transportation & Logistics
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Daimler Truck 2011 Sales Jump 26% over 2010; Regional Markets to Grow
Daimler Trucks announced December 27 that its mostly diesel-powered global truck orders jumped 26%, to 420,000 units, for the first 11 months of 2011 compared with the same period in 2010.
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Rush Expands Diesel Truck Dealerships to 70 Locations in 14 U.S. States
Texas-based truck and bus sales-and-service dealer Rush Enterprises announced December 15 that it paid about US$25 million to acquire certain assets of West Texas Peterbilt, a truck dealership group with five locations in Texas.
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Norway Ship Operator to Launch ‘World’s Largest’ LNG-Fueled Ferry
Norway-based Fjord1 announced December 12 that it’s about to launch what it describes as the “world’s largest” ferry boat propelled by liquefied natural gas (LNG) power instead of the typical diesel fuel power.
Margins & Economics
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Petroplus Stoppage Nears as Oil Traders Halt Deals
Swiss refiner Petroplus could run out of crude stocks in mere days as numerous traders stopped sales fearing non-payments, and analysts predicted that the closure could bring a temporarily relief to Europe’s crippled refining sector, according to a December 28 Reuters report.
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NYMEX WTI Reverses Direction on Stronger Dollar
NYMEX light, sweet crude for February delivery closed at US$99.36 per barrel (/bbl), down $1.98 on December 28, staging a downward correction to recent gains.
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Green Plains to Acquire JW Grain
Green Plains Renewable Energy, Inc. on December 19 announced its wholly-owned subsidiary, Green Plains Grain Co., has executed an agreement to acquire the grain elevator assets of KW Carter Co. d/b/a JW Grain located in St. Edward, Neb.
Public Policy
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U.S. Congress Allows Ethanol Tax Subsidies, Import Tariffs to Expire
The tide may be turning against the corn-based U.S. ethanol industry, as relatively low conventional fuel prices and the expiration of tax credits put the squeeze on development, according to a December 29 IHS Global Insight daily analysis.
