- Key Market Prices
- WTI Settled Close to US$100/bbl
- Fuels & Processing
- Shaw Renews, Expands Albemarle Contract Spanning Five U.S. States
- Biodiesel Production Facility Launched at Massachusetts School
- Merchant Energy to Break Ground on US$300-Million Gas Storage Project
- Next Fuel to Field-Test CTG Technology in Indonesia
- Shell: U.S. Shale-Gas Boom Could Trigger GTL Project
- H.B. Fuller Opens US$12-Million Adhesives Plant in China
- Electric Power
- PwC Survey of Auto, Utility Execs: Grid Upgrades Needed for More EVs
- Ener1: Battery Leasing Would Boost EV Car Sales
- Transportation & Logistics
- Volvo Investigating Inductive Charging for EVs: No Cables, Sockets
- GM Hiking Volt, Ampera PHEV Output on ‘Strong’ Demand
Fuels & Processing
The Shaw Group Inc. has renewed a contract with Baton Rouge-based specialty chemical maker Albemarle Corp. to provide engineering, procurement and construction services at Albemarle plants in Arkansas, Louisiana, Pennsylvania, South Carolina and Texas.
Earth Day Network, in partnership with The UPS Foundation, on May 17 unveiled what the group is calling the first large-scale biodiesel production facility at a school in the Northeast at Newton, Mass., as the centerpiece of Newton North High School’s showcase Biodiesel Production and Education Program.
Houston-based Merchant Energy Partners LLC will sponsor a ground-breaking ceremony on May 23 for its US$300-million East Cheyenne gas storage (ECGS) project near Sterling, Colo.
San Francisco-based biodiesel producer Next Fuel, Inc. has signed a definitive agreement with PT Enviro Energy to field-test its coal-to-gas (CTG) technology to determine the commercial viability of utilizing it to produce natural gas at PT Enviro’s coal deposits in Indonesia.
Shell-Americas Chief Marvin Odum was quoted in a May 19 Bloomberg report as saying that the shale-gas boom in the U.S., combined with relatively high crude-oil prices, could potentially open the door to another Shell gas-to-liquids (GTL) Fischer-Tropsch (FT) fuels project – this time in the U.S.
U.S. specialty chemical maker H.B. Fuller Co. has officially opened its new adhesives plant in Nanjing, capital city of east China’s Jiangsu province, according to a May 19 report by Asia Pulse Pte. Ltd. (Singapore)
In an extraordinary move following its regular quarterly meeting on May 19, the governing board of the International Energy Agency (IEA) published a statement about oil market developments and their impact on the global economy – calling on producing regions to pump up the volume.
Key Market Prices
A recent PricewaterhouseCoopers (PwC) survey of 200 executives in automotive, utility, energy, technology and government sectors found that electric grid upgrades are needed to support broader adoption of electric vehicles (EVs) around the world.
New York-based lithium-ion battery maker Ener1 told investment analysts during a May 10, first-quarter earnings call that battery leasing rather than outright sales would boost prospects for the electric-vehicle (EV) market.
Transportation & Logistics
Volvo announced May 19 that it will join research efforts with Belgium-based Flanders Drive, Bombardier and Van Hool on an inductive-charging scheme for future electric vehicles (EVs), which could eliminate power sockets and charging cables.
General Motors Co. announced May 18 that it will boost output of the Chevrolet “Volt” and its European cousin, the Opel “Ampera,” to 60,000 units next year – 45,000 of which are destined for the U.S. market.
Margins & Economics
NYMEX light sweet crude for June delivery closed at US$99.49 per barrel (/bbl), up $1.05 on May 20, capping a volatile session prior to going off the board.
U.S. Gulf Coast aromatic spot prices were mixed with benzene falling for a second week and xylene losing 6%. Other prices were mostly lower for the week ended May 20.
The 3-2-1 crack spread for the Gulf Coast fell 16% from US$36.05 per barrel (/bbl) to $30.28/bbl for the week ended May 13.