- Key Market Prices
- WTI Retreats for Second Day
- Margins & Economics
- Valero Energy Announces First Quarter 2011 Earnings
- Grace & Co.’s First Quarter 2011 Results Improve Strongly
- WTI Continues Slide for Second Day
- Unconventional Oil, Natural Gas Development Now in Economic Sweet Spot
- Fuels & Processing
- EIA Releases Complete Version of Annual Energy Outlook for 2011
- JX Nippon Oil to Restart Refinery by End-June
- Saudi Aramco Seeks 50% Organic Growth in Refining Capacity
- CB&I Wins Alberta Oil Sands Tankage Expansion Project
- Transportation & Logistics
- Hybrids, Diesels Grabbing More Market Share: Study
- Mitsubishi to Sell ‘i’ EV in U.S. Market for US$20,490
Fuels & Processing
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EIA Releases Complete Version of Annual Energy Outlook for 2011
The U.S. Energy Information Administration (EIA) on April 26 released the complete version of Annual Energy Outlook 2011 (AEO2011), which includes 57 sensitivity cases that show how different assumptions regarding market, policy and technology drivers affect the previously released reference case projections of energy production, consumption, technology and market trends and the direction they may take in the future.
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JX Nippon Oil to Restart Refinery by End-June
JX Nippon Oil & Energy announced April 26 that it expects to restart its 252,500 barrels/day Kashima refinery northeast of Tokyo by the end of June.
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Saudi Aramco Seeks 50% Organic Growth in Refining Capacity
Saudi Aramco is linking up plans to invest US$125 billion on organic capital expansion by 2016 including a 50% increase in refining capacity, according to an April 26 Bloomberg report of comments by Saudi Aramco CEO Khalid al-Falih.
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CB&I Wins Alberta Oil Sands Tankage Expansion Project
CB&I announced on April 26 that it has been awarded a storage tank project with a value exceeding US$45 million at an oil sands project near Fort McMurray, Alberta, Canada.
Feature
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Oil’s Changing Landscape: Cushing to Gulf Coast Oil Pipeline Conversion Ready in 2012
Two publicly traded energy industry players announced a joint venture created to undertake a pipeline conversion and construction project that seeks to provide 400,000 barrels per day of takeaway capacity from the glutted Cushing, Oklahoma oil storage hub whose crude is valued at a double-digit discount to waterborne crudes such as the Brent grade traded in London.
Key Market Prices
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WTI Retreats for Second Day
Electric Power
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Entergy Requests Membership in Midwest ISO
Entergy Corporation announced its intent on April 25 to request voluntary membership in the Midwest Independent System Operator (MISO) by joining as a fully integrated transmission owning member.
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S&P Lowers TVA Debt Outlook to ‘Negative’
Standard & Poor's Ratings Services said on April 25 that it lowered its outlook on Tennessee Valley Authority (TVA) to negative from stable while the rating agency also reiterated the 'AAA' long-term rating and 'AAA' issuer credit rating.
Transportation & Logistics
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Hybrids, Diesels Grabbing More Market Share: Study
Consumers are turning more toward hybrid-electric, clean-diesel and smaller, fuel-efficient cars, according to a news study from Michigan-based auto analyst Baum and Associates.
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Mitsubishi to Sell ‘i’ EV in U.S. Market for US$20,490
Mitsubishi Motors announced April 21 that it will have the lowest-cost electric vehicle (EV) on the U.S. market for the 2012 model year – the “i” mini-car, starting at US$20,490 (including the current U.S. federal tax credit of $7,500).
Margins & Economics
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Valero Energy Announces First Quarter 2011 Earnings
Valero Energy Corporation (NYSE: VLO)reported on April 26 that income from continuing operations came in at $104 million, or $0.18 per share, for the first quarter of 2011, compared to a loss from continuing operations of $80 million, or $0.14 per share, for the first quarter of 2010.
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Grace & Co.’s First Quarter 2011 Results Improve Strongly
W. R. Grace & Co. (NYSE: GRA) announced its financial results on April 26 for the first quarter ended March 31, 2011 which showed a 13% sales increase and nearly 50% improvement in earnings before interest and taxes.
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WTI Continues Slide for Second Day
NYMEX light sweet crude for June delivery closed at US$112.21per barrel (/bbl), down 7¢ on April 26, after the American Petroleum Institute reported crude inventories rose much more than expected last week.
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Unconventional Oil, Natural Gas Development Now in Economic Sweet Spot
Are current economics, both in terms of unconventional development and on a global, macroeconomic scale, supportive to domestic oil and gas players? Undoubtedly so was the consensus of several experts, speaking on April 19 to 2,400 attendees at Hart Energy’s sixth annual Developing Unconventional Gas (DUG) conference and exhibition in Fort Worth, Texas.
Public Policy
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London Congestion Charge Isn’t Cutting Air Pollution: HEI Study
The Health Effects Institute (HEI) – jointly funded by U.S. Environmental Protection Agency, automakers and fuel producers – announced April 25 that a new study shows London’s pioneering traffic congestion charging scheme (CCS) isn’t cutting air pollution.
