- Key Market Prices
- WTI Rebounds to Settle at US$99.59/bbl
- Public Policy
- Obama Pursues ‘Clean’ Energy Agenda, Higher Costs vs. Domestic Oil and Gas Production: Report
- In Iowa, Presidential Hopeful Calls for Phase-Out of Ethanol Subsidies
- Margins & Economics
- El Paso Corp. Announces Plan to Split Upstream, Midstream
- Crude Futures Rise US$1.89/bbl on Volatile Dollar, Bullish Forecast
- NuStar Energy Files Notice of US$200-Million Equity Distribution Agreement
- Fuels & Processing
- Kenya Drops Plans to Upgrade Mombasa Refinery
- Holly Inks Biodiesel Plant Deal with Endicott
- European Commission Funds Microalgae-to-Biofuel Project
- Harvest Pipeline Expands Eagle Ford Takeaway Capacity
- Jacobs Wins Service Contract from Infineum
- Electric Power
- Honda Teams Up with Utilities on Home Micro-CHP System
- Shaw to Engineer Small Modular Reactor for Holtec
- Nissan Installs 30 Solar Chargers for ‘Leaf’ EVs
- Transportation & Logistics
- Green-Vehicle Demand Soaring in U.K.
Fuels & Processing
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Kenya Drops Plans to Upgrade Mombasa Refinery
The government of Kenya has scrapped plans to upgrade its 80,000 barrels-per-day oil refinery in Mombasa and the only oil refinery in East Africa, according to Dow Jones Newswires.
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Holly Inks Biodiesel Plant Deal with Endicott
Dallas-based oil refiner Holly Corp. will partner with Houston-based Endicott Biofuels on a 30 million-gallon-per-year fatty acid methyl ester (FAME) biodiesel plant under construction in Port Arthur, Texas.
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European Commission Funds Microalgae-to-Biofuel Project
Nine partners from seven countries have joined in an innovative project to show that ethanol, biodiesel and bioproducts can be produced from algae on a large scale. The BIOfuel from Algae Technologies (BIOFAT) project, largely funded by the European Commission’s Seventh Framework Program, aims to demonstrate that biofuels made from microalgae can offer energy efficiency, economic viability and environmental sustainability.
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Harvest Pipeline Expands Eagle Ford Takeaway Capacity
Harvest Pipeline Co. announced May 23 that it’s building a pipeline to deliver crude oil from the Eagle Ford shale play to an existing terminal on the Corpus Christi Ship Channel in Texas.
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Jacobs Wins Service Contract from Infineum
Jacobs Engineering announced May 20 that it won a master services agreement (MSA) contract for Infineum’s petroleum additives manufacturing plants in Europe, Asia and North America.
Feature
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China’s Power Shortages May Worsen as Summer Looms
Electricity supplies to industrial users could be cut further this summer as capacity shortages, thermal coal supply issues and declining hydroelectric output combine to produce the worst energy crisis in seven years, China’s top power distributor said May 24.
Key Market Prices
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WTI Rebounds to Settle at US$99.59/bbl
Electric Power
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Honda Teams Up with Utilities on Home Micro-CHP System
Honda announced May 23 that it’s teaming up with natural gas utilities throughout Japan on a household “MCHP” (micro-combined heat and power) gas engine cogeneration unit system.
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Shaw to Engineer Small Modular Reactor for Holtec
The Shaw Group, Inc. announced May 24 that it has won a contract by SMR, LLC, a subsidiary of Holtec International, to provide phase-one engineering support services for a new 140-megawatt small modular nuclear power reactor, the Holtec Inherently Safe Modular Underground Reactor (HI-SMUR).
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Nissan Installs 30 Solar Chargers for ‘Leaf’ EVs
Nissan announced May 23 that it launched construction of 30 solar-assisted charging stations for electric vehicles (EVs) at its Smyrna, Tenn., vehicle assembly plant as well as at Nissan Americas headquarters in Franklin, Tenn.
Transportation & Logistics
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Green-Vehicle Demand Soaring in U.K.
Demand in the United Kingdom for “greener” vehicles hit an all-time high in April 2011, according to a report from the Motoring.co.uk automotive industry analytical service.
Margins & Economics
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El Paso Corp. Announces Plan to Split Upstream, Midstream
Houston-based El Paso Corp. (NYSE: EP) on May 24 said its board of directors has granted initial approval of a plan to separate the company into two publicly traded businesses by year-end 2011 – one in upstream and the other in midstream.
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Crude Futures Rise US$1.89/bbl on Volatile Dollar, Bullish Forecast
NYMEX light sweet crude for July delivery ended at US$99.59 per barrel (/bbl), up $1.89 on May 24, off the intra-day high of $100.09/bbl after the dollar recovered from early weakness, triggering a round of profit-taking.
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NuStar Energy Files Notice of US$200-Million Equity Distribution Agreement
NuStar Energy LP on May 23 filed a notice with U.S. securities regulators that the partnership had entered into an equity distribution agreement with Citigroup Global Markets, Inc. covering the potential sale of securities worth up to US$200 million.
Public Policy
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Obama Pursues ‘Clean’ Energy Agenda, Higher Costs vs. Domestic Oil and Gas Production: Report
A new report titled, Rising Energy Costs: An Intentional Result of Government Action issued by the U.S. House of Representatives’ Committee on Oversight and Government Reform, concludes the Obama administration is pursuing an agenda that supports the need for Americans to pay higher energy costs.
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In Iowa, Presidential Hopeful Calls for Phase-Out of Ethanol Subsidies
Launching his 2012 U.S. presidential bid May 23, former Minnesota Gov. Tim Pawlenty (R) told a Des Moines, Iowa, audience his views on energy subsidies. In prepared remarks, he said, “the truth about federal energy subsidies, including federal subsidies for ethanol, is that they have to be phased-out,” he said.
