- Key Market Prices
- WTI Up 92¢ Higher
- Public Policy
- RBC to Consider Oil Sands Impact Before it Extends Financing
- IER Founder Compares California’s Energy, Climate Policy to Enron
- Margins & Economics
- U.S. Crude Stocks Fall Fifth Consecutive Week
- One Day, Two Debt Deals in Downstream Logistics
- WTI Gains on Positive Economic Data
- ConocoPhillips to Sell Boston Downstream Logistics Terminal Assets
Fuels & Processing
-
ConocoPhillip’s Whitegate Refinery to Get Larger Sulfuric-Acid Unit
ConocoPhillips will undertake the construction of a new sulfuric acid unit at the 75,000 barrel-per-day Whitegate refinery in February 2011, according to a January 3 report on Polymerupdate.com citing an unnamed source familiar with the situation.
-
DuPont Seeks to Expand its Clean-Tech Portfolio
Delaware-based chemical major DuPont announced January 3 that it has acquired MECS from affiliates of American Securities LLC in a move to strengthen its clean technologies portfolio.
-
Dueling Refinery Projects in Kenya, Uganda Race to Process Uganda Crude
In a revival of news flow on the long-discussed Hoima refinery project, Uganda’s President Yoweri Museveni said his country plans to form a public-private partnership to build the refinery by 2012 to process the country’s rising crude production, according to a January 1 Dow Jones report.
-
China Integrated Energy Signs LOI to Acquire Hainan Facility, Build New Biodiesel Plant
China Integrated Energy, Inc. January 3 announced that it has signed a non-binding letter of intent (LOI) to acquire all the assets of Hainan Lin Gao Chemical Co., Ltd. for a total cash consideration of about US$9 million. The price includes a land use right to about 15 acres of land, an oil storage facility with 15,000 cubic meters of storage capacity and built-in infrastructure including power, water and waste treatment.
Feature
-
-
Is Historical Natural Gas Volatility Dead?
Historically, natural gas prices have been subject to volatility from heating and cooling demand, as well as tightened balances, but over much of the past decade prices have traded in a tighter range because of increased production, among other factors. Given this situation, a recent Natural Gas Weekly Kaleidoscope from Barclays Capital questioned whether pricing volatility was dead.
Key Market Prices
-
WTI Up 92¢ Higher
Transportation & Logistics
-
China to Unveil New EV/PHEV Incentive Plan
China’s government this month aims to announce a new “Energy Saving and New Energy Vehicle Development Plan” covering the 2011 to 2020 period, according to a December 30 report from China Daily.
-
Tokyo Electric Launches Electric Boat Trials
Tokyo Electric Power and eight other public and private partners will launch electric boat trials in July, including the first adaptation of “fast charge” technology for marine lithium-ion batteries.
-
Isuzu/GM Terminating Joint Diesel Engine Development
Isuzu will terminate further joint development with General Motors Corp. in diesel engines, according to a December 22 report from Nikkei news service.
-
Scania Wins Truck Deal for Novel Biofuels Project in Africa
Scania announced December 15 that it won an order for 50 fuel transport trucks, and an option on 100 more, from Liberia-based Buchanan Renewables Fuels.
-
EV Recharge Station Debuts at Bank in Minnesota
California-based Coulomb Technologies announced January 4 the first installations of “ChargePoint” electric vehicle (EV) recharging stations in Minnesota.
Margins & Economics
-
U.S. Crude Stocks Fall Fifth Consecutive Week
U.S. crude inventories fell by 4.2 million barrels – surpassing analyst projections – and refined product stocks increased, according to the Energy Information Administration (EIA) report for the week ended December 31.
-
One Day, Two Debt Deals in Downstream Logistics
Two downstream logistics firms on January 4 announced and completed more than US$2 billion in debt deals, which were marketed under filings with the U.S. Securities and Exchange Commission. The two operators – Buckeye Pipeline Partners and Enterprise Pipeline Partners – are growth-oriented, publicly-traded master limited partnerships that provide refined product storage, pipeline and terminal assets, among other services, across North America. Terms were set by the end of the day when the debt was placed.
-
WTI Gains on Positive Economic Data
NYMEX light sweet crude for February delivery closed at US$90.30 per barrel (/bbl), up 92¢ on January 5, on positive economic data signaling increased fuel demand.
-
ConocoPhillips to Sell Boston Downstream Logistics Terminal Assets
The East Boston Refined Products Terminal owned by ConocoPhillips is up for sale, according to a December 29 report by Tank Storage Daily.
Public Policy
-
RBC to Consider Oil Sands Impact Before it Extends Financing
The Royal Bank of Canada (RBC) – at the request of the Rainforest Action Network (RAN) and Canada’s First Nations – has implemented a new policy of conducting an environmental and social risk review (ESRR) on selected companies before it extends financing.
-
IER Founder Compares California’s Energy, Climate Policy to Enron
California energy/climate policy is the very one championed by Enron and Kenneth Lay from 1988 until the Houston-based company’s demise in late 2001, and such policy points the state in one direction: higher energy prices and less grid reliability, according to one industry analyst who spent 16 years at Enron.
