- Key Market Prices
- WTI Falls 2.5% on Worries that High Prices May Affect Demand
- Public Policy
- CARB ‘Low Carbon Fuel Standard’ Panel Targets ‘High-Carbon’ Crudes, EVs
- NPRA Poll: 90% of Americans Believe Petroleum Refineries ‘Important’
- Margins & Economics
- WTI Under US$110/bbl on Concerns High Prices May Affect Demand
- CHS Fiscal 1H 2011 Earnings Rise; Refining, Renewable Fuels Improve
- Fuels & Processing
- Avantium Sells Flowrence Catalysis Equipment to Sinopec
- New Exec VP of R&D at Mascoma
- Romania’s OMV Petrom Announces Terminal Conversion for Arpechim Refinery
- Speculation on Klesch Paying $3.3 Billion for Total’s Lindsey Refinery
- India’s Essar Oil Remains Upbeat on Refining Margins After strong Financial Report
- ExxonMobil’s CEO Talks Oil and Gas with CNBC
Fuels & Processing
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Avantium Sells Flowrence Catalysis Equipment to Sinopec
Sinopec’s Research Institute of Petroleum Processing R&D (RIPP) and Netherland’s based technology developer Advantium Inc. announced on April 11 that RIPP will be purchase an Avantium Flowrence unit to gain access to cutting edge high throughput trickle flow catalyst testing equipment.
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New Exec VP of R&D at Mascoma
Mascoma Corp. on April 11 announced the appointment of Stephen Kennedy as the new executive vice president of Research and Development and member of the executive leadership team.
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Romania’s OMV Petrom Announces Terminal Conversion for Arpechim Refinery
One Russian refinery is ordering a new steam reformer, but three other European project updates deal with closures or Refinery-to-Terminal conversion projects.
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Speculation on Klesch Paying $3.3 Billion for Total’s Lindsey Refinery
Klesch & Co. Ltd. is said to be in negotiations to purchase the Lindsay Refinery in the U.K. from Total SA in a deal said to be worth up to 2 billion pounds ($3.3 billion), the Sunday Telegraph reported on April 10.
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India’s Essar Oil Remains Upbeat on Refining Margins After strong Financial Report
Essar Oil Limited management indicated margin strength is likely to continue as the company reported strong financial performance for its fiscal year ended March 31, 2011, as it reported on April 11 the results from the fiscal year 2010-2011 (FY2010-11) period including a 25% increase in annual gross revenues and a 24% increase in the corresponding fourth quarters.
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ExxonMobil’s CEO Talks Oil and Gas with CNBC
In an after hours interview with Maria Bartiromo, Exxon Mobil Chairman and CEO Rex Tillerson appeared on CNBC on April 7 as crude oil prices ran into the US110$ per barrel range, saying that the highest-growth conventional fuel is natural gas and demand will ramp 60% by 2030.
Feature
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‘Renewable Diesel’ can be More Profitable than Biodiesel for US EPA’s RFS-2
Refiner hydroprocessing of bio-based feedstocks (such as vegetable oils and animal fats) into all-hydrocarbon “renewable diesel” (RD) is well-known for yielding a pipeline-fungible product that’s superior in quality to fatty acid methyl ester (FAME) biodiesel.
Key Market Prices
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WTI Falls 2.5% on Worries that High Prices May Affect Demand
Electric Power
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Kyocera Installs 126th Large Shopping Center Solar Power System
Kyoto-based Kyocera Corp. announced April 7 that it completed another large commercial installation of solar-electric power – this time, 960 kiloWatts (KW) – at an Aeon shopping center housing 159 businesses in Itami City, Japan.
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America’s Wind Power Industry Grew 15% in 2010
America’s wind power industry grew by 15% in 2010 and provided 26% of all new electric generating capacity in the United States. With the 5,116 megawatts (MW) added last year, U.S. wind installations now stand at 40,181 MW, enough to supply electricity for over 10 million American homes.
Transportation & Logistics
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NRG, Oncor, AeroVironment Launching EV Recharge Network in Dallas/Fort Worth
NRG Energy, Oncor and AeroVironment announced April 8 that they’re teaming-up in Dallas/Fort Worth (DFW) on what’s described as the “first privately funded” electric vehicle (EV) recharge station network in Texas.
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By 2015, Beijing Expects 100,000 EVs on the Road
According to the newly approved five-year plan from Beijing’s automotive industry, there will be 100,000 pure electric vehicles (EVs) in use by 2015, most of which will be passenger cars.
Margins & Economics
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WTI Under US$110/bbl on Concerns High Prices May Affect Demand
NYMEX light sweet crude for May delivery ended 2.5% lower May 11, settling at US$109.92 per barrel (/bbl), down $2.87, over concerns that rising energy prices may affect demand.
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CHS Fiscal 1H 2011 Earnings Rise; Refining, Renewable Fuels Improve
Minnesota-based farm co-op CHS Inc. announced April 8 that fiscal first-half 2011 earnings for the period ending February 28, 2011, rose to US$396.3 million, up sharply from $202.6 million in fiscal 1H 2010.
Public Policy
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CARB ‘Low Carbon Fuel Standard’ Panel Targets ‘High-Carbon’ Crudes, EVs
High carbon” crude oil, biofuel life-cycle greenhouse emissions and “low carbon” electric vehicles take prominence in California Air Resources Board’s (CARB) advisory panel comments on its pioneering “low carbon fuel standard” (LCFS) regulation.
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NPRA Poll: 90% of Americans Believe Petroleum Refineries ‘Important’
NPRA, the National Petrochemical & Refiners Association, announced results of the poll conducted by Opinion Research Corporation that shows 90% of U.S. consumers believe the nation’s petroleum refineries and petrochemical manufacturing plants are among America’s “most important” or “important” industries.
