- Key Market Prices
- WTI Falls for Second Day; Settles at US$88.03
- Public Policy
- Pickens: Higher Energy Prices Could Compel U.S. Congress to Act
- New Mexico Governor Strikes Two Environmental Rules
- California Air Regulators Launch Hearing on LCFS Amendments
- Canada Promises to Follow U.S. on GHG Rules: Refinery, Oil-Sands Impacts
- Margins & Economics
- NYMEX Heating Oil Futures/Options Contract Volume Soars
- U.S. Crude Futures Settle 3.7% Lower on Week
- Gulf Coast 3-2-1 Crack Spreads for Weeks Ending December 24 and December 31
- Gulf Coast Aromatic Prices Remain Mostly Mixed for Week Ending January 7
- U.S. Leads BP Refining Margin Indicators with Strong 2010 Momentum
- Fuels & Processing
- Flint Hills Buys Two More Iowa Ethanol Plants
- Fulcrum Inks Second, MSW Feedstock Supply Agreement for Sierra Biofuels Plant
- ENOC Touts ‘Green’ Fuel Station, ‘Very Low Sulfur Diesel’
- Transportation & Logistics
- Utah to Open First Natural-Gas Fueling Station
- GM, Argonne Sign Licensing Deal for Advanced Li-Ion Batteries
Fuels & Processing
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Flint Hills Buys Two More Iowa Ethanol Plants
U.S. oil refiner Flint Hills Resources announced January 6 that it plans to buy two ethanol plants in Iowa Falls and Fairbank, Iowa, from Hawkeye Renewables.
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Fulcrum Inks Second, MSW Feedstock Supply Agreement for Sierra Biofuels Plant
Nevada-based cellulosic ethanol producer Fulcrum BioEnergy, Inc. announced January 6 that it has entered into a 15-year feedstock supply agreement with Waste Management of Nevada for the delivery of post-sorted, municipal solid waste (MSW) to Fulcrum’s Sierra biofuels plant.
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ENOC Touts ‘Green’ Fuel Station, ‘Very Low Sulfur Diesel’
The Emirates National Oil Co. (ENOC) announced January 4 the debut of what it terms its first “green service station” in Dubai, including the introduction of what the energy group calls “very low sulfur diesel” for motorists.
Feature
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Examining China’s Massive, Five-Year Energy Expansion Plan
Massive refinery, power and downstream logistics growth is planned in China, according to January 6 a Xinhua News Agency story. The populous nation is planning to boost its refining capacity by 20% in the next five years, according to the report. Hart Energy has compared that expansion to existing energy infrastructure capacities of some top-10 global economies.
Key Market Prices
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WTI Falls for Second Day; Settles at US$88.03
Transportation & Logistics
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Utah to Open First Natural-Gas Fueling Station
Construction on Utah’s first liquefied natural gas (LNG) station is nearing completion as the first bulk LNG storage tank was placed on its permanent foundation this week.
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GM, Argonne Sign Licensing Deal for Advanced Li-Ion Batteries
General Motors Corp.(GM) and the U.S. Department of Energy’s (DOE’s) Argonne National Laboratory have agreed to use Argonne’s patented composite cathode material to make advanced lithium-ion (Li-ion) batteries that last longer between charges and can charge at higher voltages.
Margins & Economics
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NYMEX Heating Oil Futures/Options Contract Volume Soars
Trading volume for NYMEX heating oil (gasoil) futures and options for the entire 2010 year jumped by a whopping 25%, according to newly released figures.
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U.S. Crude Futures Settle 3.7% Lower on Week
NYMEX light sweet crude for February delivery closed at US$88.03 per barrel (/bbl), down 35¢ on January 7, with negative economic data and follow-through selling ahead of the weekend.
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Gulf Coast 3-2-1 Crack Spreads for Weeks Ending December 24 and December 31
Due to the holiday publishing schedule, we did not publish the 3-2-1 Gulf Coast and New York crack spread for the week ending December 24. We have included it with this week’s report.
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Gulf Coast Aromatic Prices Remain Mostly Mixed for Week Ending January 7
For the week ending January 7, U.S. Gulf Coast aromatic spot prices and other markets were mostly mixed.
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U.S. Leads BP Refining Margin Indicators with Strong 2010 Momentum
BP Plc’s refinery margin index data suggests that refining margins continued their unseasonably strong performance throughout the fourth quarter of 2010. The BP Global Indicator Margin (GIM) – and six accompanying, underlying regional margins – closed out the year on December 31 at levels that were several multiples higher than their historical actual values for the quarter.
Public Policy
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Pickens: Higher Energy Prices Could Compel U.S. Congress to Act
Dallas financier T. Boone Pickens is reviving his push to replace imported oil with natural gas – and promoting natural gas an alternative fuel for heavy-duty vehicles.
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New Mexico Governor Strikes Two Environmental Rules
New Mexico Governor Susana Martinez (R) has scuttled a state regulation requiring annual cuts in greenhouse gas (GHG) emissions of 3% – acting on a campaign promise she made last November, a January 6 New York Times report said.
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California Air Regulators Launch Hearing on LCFS Amendments
The California Air Resources Board (CARB) announced January 6 that it will conduct a public hearing February 24 to consider amendments to the “carbon intensity look-up tables” for its Low Carbon Fuel Standard (LCFS) regulation.
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Canada Promises to Follow U.S. on GHG Rules: Refinery, Oil-Sands Impacts
Canada’s new Environment Minister Peter Kent announced January 5 that his country plans to follow U.S. President Barack Obama’s proposed rules for limiting greenhouse gas (GHG) emissions from oil refineries and power plants.
