- Key Market Prices
- WTI Falls US$1.15/bbl; Mubarak Resignation Allayed Supply Fears
- Public Policy
- Canadian Government Mandates 2% Biodiesel Starting July 2011
- World’s Second-Largest CPO Producer Inks Sustainability Deal with Forest Trust
- Margins & Economics
- Petroplus Among Top Three Bidders for Lindsey Refinery in U.K., Total Says
- Downstream Logistics Player Kinder Morgan Prices Record IPO Above Range
- Gulf Coast Aromatic Prices Mixed for Week Ending February 11
- Gulf Coast 3-2-1 Crack Spread Up 2% for Week Ending February 4
- WTI, Brent Fall on Middle East, Stronger Dollar
- Fuels & Processing
- Korea Gas Awards Unitel with FEED Contract for DME Plant
- Major Fire Reported Near Hovensa Refinery in St. Croix
- KBR Wins Study Contract for Proposed Refinery in Equatorial Guinea
Fuels & Processing
-
Korea Gas Awards Unitel with FEED Contract for DME Plant
Unitel Technologies, Inc. has been awarded a contract by Korea Gas Technology Corp. (KOGAS) to prepare the front-end engineering and design (FEED) package for a plant that will produce 300,000 tons of dimethyl ether (DME) per year.
-
Major Fire Reported Near Hovensa Refinery in St. Croix
Hovensa LLC – owner of the second-largest petroleum refinery in the U.S. – reported a major fire on February 11 at the Wilifred Allick Container Port adjacent to its 500,000 barrel-per-day (b/d) refinery in St. Croix, U.S. Virgin Islands
-
KBR Wins Study Contract for Proposed Refinery in Equatorial Guinea
Houston-based KBR announced February 10 that it won a contract from the Ministry of Mines, Industry and Energy (MIE) of the Republic of Equatorial Guinea for a conceptual study and associated project management services for the development of a low-complexity, modular, 20,000 barrel-per-day refinery at Mbini, Equatorial Guinea.
Feature
-
-
ConocoPhillips to Mothball Only LNG Export Plant in U.S.
The only liquefied natural gas (LNG) export plant in the U.S. – located on the Kenai Peninsula off the southern coast of Alaska – will be shuttered by co-owners, ConocoPhillips and Marathon Oil Corp., according to February 9 state news reports. Other U.S. LNG export plants are pending permits by U.S. regulatory authorities.
Key Market Prices
-
WTI Falls US$1.15/bbl; Mubarak Resignation Allayed Supply Fears
Electric Power
-
Nissan Breaks Ground on New Battery Plant in Portugal
Officals with Nissan Motor Co. Ltd. announced February 11 that they have begun construction on a state-of-the-art, advanced lithium-ion battery plant in Cacia, Portugal, to support the rollout of electric vehicles (EVs) by the Renault-Nissan Alliance in Europe.
-
ClipperCreek, Jetlun Ink Collaboration on EV Charging Shut-Off Controls
California-based companies, ClipperCreek and Jetlun, announced February 7 that they will collaborate on “smart-grid-enabled” electric vehicle (EV) supply equipment (EVSE) “to allow EV charging station owners to remotely monitor and control their EVSE and to opt-in to participate to their utility programs to reduce energy costs.”
Transportation & Logistics
-
3M Installs EV Recharge Stations at Corporate Headquarters
Minnesota-based plastics and chemicals giant 3M announced February 10 that it has installed its first “ChargePoint” electric vehicle (EV) recharging station at its corporate headquarters in St. Paul, Minn., initially for drivers of the Chevrolet “Volt” and Nissan “Leaf” EVs.
-
El Paso Declares Force Majeure Following Tennessee Gas Pipeline Explosion
An explosion on El Paso Corp.’s Tennessee Gas Pipeline on February 10 caused the company to declare force majeure. The incident, which has since been contained, was caused by a leak at station 214 on the pipeline in Hanover Township, Ohio.
Margins & Economics
-
Petroplus Among Top Three Bidders for Lindsey Refinery in U.K., Total Says
French multinational Total S.A. said Petroplus Holdings AG is among the top three likely buyers for its Lindsey, U.K. refinery, according to a February 11 Bloomberg report.
-
Downstream Logistics Player Kinder Morgan Prices Record IPO Above Range
Kinder Morgan, Inc. priced the shares offered in their initial public offer (IPO) above the range targeted in what was already seen as an aggressive valuation, according to the prospectus posted February 11 on the U.S. Securities and Exchange Commission website.
-
Gulf Coast Aromatic Prices Mixed for Week Ending February 11
U.S. Gulf Coast aromatic spot prices and other markets were mixed for the week ending February 11.
-
Gulf Coast 3-2-1 Crack Spread Up 2% for Week Ending February 4
The 3-2-1 crack spread for the Gulf Coast rose 4% from US$15.33 per barrel (/bbl) to $15.64/bbl for the week ending February 4. The New York 3-2-1 crack spread fell 1.429% from $16.22/bbl to $15.99/bbl for the same period.
-
WTI, Brent Fall on Middle East, Stronger Dollar
NYMEX light sweet crude for March delivery settled at US$85.58 per barrel (/bbl), down $1.15 on February 11, in response to a dollar rally and the resignation of Egyptian President Hosni Mubarak.
Public Policy
-
Canadian Government Mandates 2% Biodiesel Starting July 2011
Environment Canada announced February 10 that it proposes to force the blending of 2% biodiesel into diesel fuel and heating oil starting July 1, 2011.
-
World’s Second-Largest CPO Producer Inks Sustainability Deal with Forest Trust
Geneva-based “green” advocacy group, The Forest Trust (TFT), announced February 9 that it signed a deal with Indonesia-based Golden Agri-Resources (GAR) for “sustainable” crude palm oil (CPO) production, including the protection of carbon-rich forests and peatlands.
