- Key Market Prices
- WTI Sets a New Two-Year High
- Margins & Economics
- Saudi Petrochemical Exports Hit US$944 Million in November
- BNEF: Low-Carbon Energy Investment Reached a Record US$243 Billion in 2010
- 2011 EIA Crude Price Estimate Adjusted 8.5% Higher
- U.S. Crude Inventories Decline Sixth Straight Week
- NYMEX WTI Advances on Supply Data; ICE Brent Tops US$98/bbl
- Fuels & Processing
- CHS Fiscal 1Q 2011 Net Up Sharply
- Shell Carves Out Base-Oil Unit and Announces Harburg Refinery-To-Terminal Conversion
- Petrobras Reports Record Gasoline Sales in 2010
- Nightmare Freeze-up Prevention Requires Temporary Restart at Leaking Trans-Alaska Pipeline
- U.S. Army Testing Trash-to-Fuel Scheme
Fuels & Processing
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CHS Fiscal 1Q 2011 Net Up Sharply
Minnesota-based farm co-op CHS announced January 11 that its fiscal first-quarter 2011 net earnings (covering September 1 to November 30) rose 68%, thanks to higher revenue in its energy, grains, oilseeds, crop nutrients and processed-oilseeds divisions.
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Shell Carves Out Base-Oil Unit and Announces Harburg Refinery-To-Terminal Conversion
Ending a long search for a refinery buyer, Shell Oil Germany GmbH announced January 12 that it will be ceasing refining operations at most of the processing assets of the Harburg refinery in Hamburg in order to convert the plant into a refined product terminal. The company also announced the carve-out and negotiation for sale of certain units involved in base-oil production at the refinery.
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Petrobras Reports Record Gasoline Sales in 2010
Petrobras announced January 12 that December 2010 gasoline and aviation fuel sales set all-time records.
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Nightmare Freeze-up Prevention Requires Temporary Restart at Leaking Trans-Alaska Pipeline
Regulatory authorities and officials with Alyeska Pipeline Service Co. (APSC) announced January 11 that they will perform a temporary restart of the leaking Trans-Alaska Pipeline System (TAPS) in order to prevent a “nightmare” freeze-up of the line, as a temporary bypass plan awaits parts and installation over the next five days.
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U.S. Army Testing Trash-to-Fuel Scheme
The U.S. Army on January 9 announced that it’s testing a garbage-to-fuel scheme that not only could boost its “green” credentials but also provide valuable energy to battlefield areas.
Feature
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Rare Earths Shortage, Price Run-Up Posing Dilemma for Refiners
Refiners who produce motor fuels with fluidized catalytic cracking units (FCCUs) are noting the price runs of rare earth metals used as catalysts, according to a January 8 Wall Street Journal (WSJ) report.Prices for at least two rare earth elements – lanthanum and cerium – tripled by the end of 2010, driving up refinery FCCU-catalyst costs by 25%, according to the report. Several key industry players contacted by Hart Energy’s Refinery Tracker (RT) displayed a keen focus on the price increases.
Key Market Prices
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WTI Sets a New Two-Year High
Transportation & Logistics
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IBM Study: Auto Execs, Consumers Differ on EVs
Automobile industry executives overwhelmingly believe that higher oil prices would be the key driver for electric vehicle (EV) sales, yet only about half of U.S. car-buyers agree.
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BYD to Bring EVs to U.S. Market by 2012
China-based BYD announced January 10 that it plans to bring electric vehicles (EVs) to the U.S. market by as early as 2012.
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U.S. Consumers Becoming More Aware of EVs: Poll
Maritz Research announced January 7 that its latest U.S. consumer poll shows growing awareness of electric vehicles (EVs) and other “alternatives,” but only 20% of respondents say they’re “very aware” of such technologies.
Margins & Economics
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Saudi Petrochemical Exports Hit US$944 Million in November
Saudi Arabia’s petrochemical exports in November reached 3.54 billion riyals (US$944 million) – an eight-month high – driven by strong demand from China, India and other Asian countries, according to a January 11 Bloomberg report citing government data.
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BNEF: Low-Carbon Energy Investment Reached a Record US$243 Billion in 2010
Global investment in low-carbon energy climbed to a record US$243 billion in 2010 – lifted by a 30% spending increase in China and a burst in small-scale, solar-power installations, a London-based research firm said on January 11.
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2011 EIA Crude Price Estimate Adjusted 8.5% Higher
Prices for West Texas Intermediate (WTI) crude oil closed January 11 at $91.15 per barrel on the same day that the U.S. Energy Information Administration issued its revised Short Term Energy Outlook (STEO) showing forecasted spot WTI crude prices ramping to $93.42, up 8.5% over the $86.08 annual per barrel crude price forecast released just a few weeks ago on December 7.
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U.S. Crude Inventories Decline Sixth Straight Week
U.S. crude stockpiles fell by 2.2 million barrels – ahead of analyst expectations – while gains in refined product inventories outpaced predictions, according to the Energy Information Administration (EIA) report for the week ended January 7.
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NYMEX WTI Advances on Supply Data; ICE Brent Tops US$98/bbl
NYMEX light sweet crude for February delivery settled at US$91.86 per barrel (/bbl), up 75¢ on January 12, in response to a larger-than-forecast decline in crude stockpiles and ongoing concerns about potential supply constraints from the Trans Alaska Pipeline System’s (TAPS) closure.
Public Policy
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EPA to Defer CO2 Permit Requirements for Industries that Use Biomass
The U.S. Environmental Protection Agency (EPA) announced January 12 that it will exempt carbon emissions from biomass facilities from Clean Air Act (CAA) regulation for at least three years.
