- Key Market Prices
- NYMEX RBOB Futures Soar on Refinery Outages
- Public Policy
- CARB OKs ZEV, ‘Clean Fuels Outlet’ Mandates
- Margins & Economics
- Gulf Coast 3-2-1 Crack Spread Declines 6.45% in Week Ending January 20
- Gulf Coast Aromatics Prices Mostly Higher in Week Ending January 26
- NYMEX WTI Ends Lower; Gasoline Rallies
- Fuels & Processing
- KiOR Receives US$75-Million Loan from Khosla, Canadian Investors
- Total to Expand Aromatics, EVA Output in S. Korea
- Gazprom Neft Expanding Winter Diesel Capacity
- ZeaChem Wins ‘Conditional’ US$232-Million Loan Guarantee for Biorefinery
- Gevo Awarded Separation-Technology Patent
- POET Partners with DSM on Cellulosic Biofuel; Declines U.S. DOE Loan
- Electric Power
- Cleveland Gasification-WTE Proposal Faces Protests
Fuels & Processing
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KiOR Receives US$75-Million Loan from Khosla, Canadian Investors
Texas-based renewable fuels technology developer KiOR announced January 27 that it closed a US$75-million, four-year term loan with a lender group comprised of an affiliate of alternative-fuels investor Vinod Khosla and two Canadian corporations owned by certain pension fund clients of Alberta Investment Management Corp. (AIMCo).
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Total to Expand Aromatics, EVA Output in S. Korea
French multinational oil company Total S.A. is consolidating its positions in petrochemicals in Asia with a new expansion and upgrading project at the Daesan complex in South Korea, the company announced January 27.
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Gazprom Neft Expanding Winter Diesel Capacity
Russia’s Gazprom Neft has introduced a dewaxing unit paired with a hydrotreating unit at its Omsk refinery, enabling expanded production of low-sulfur diesel with better cold-flow characteristics for winter months.
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ZeaChem Wins ‘Conditional’ US$232-Million Loan Guarantee for Biorefinery
Colorado-based ZeaChem announced January 26 that it won a “conditional” US$232-million loan guarantee from the U.S. Department of Agriculture’s (USDA) for a proposed 25 million-gallons-per-year biorefinery that would produce advanced fuels and chemicals.
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Gevo Awarded Separation-Technology Patent
Gevo, Inc. on January 24 received a patent from the United States Patent and Trademark Office for its GIFT separation unit, a central element in the company’s unique fermentation technology for the production of isobutanol.
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POET Partners with DSM on Cellulosic Biofuel; Declines U.S. DOE Loan
POET LLC announced January 23 a joint venture (JV) with Royal DSM to commercially demonstrate and license cellulosic bio-ethanol based on their proprietary and complementary technologies.
Feature
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AFPM: Government Must Support Oil, Gas Industries to Create More Jobs
In an effort to better describe its focus and membership, the National Petroleum & Refiners Association (NPRA) changed its name to the American Fuel & Petrochemical Manufacturers (AFPM).
Key Market Prices
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NYMEX RBOB Futures Soar on Refinery Outages
Electric Power
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Cleveland Gasification-WTE Proposal Faces Protests
The City of Cleveland, Ohio’s proposed gasification-based waste-to-energy (WTE) project recently faced protests from local “green” groups and neighbors that fear “toxic” emissions from the plant.
Transportation & Logistics
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EV Battery Maker Ener1 Files Chapter 11, Reaches Deal with Lenders
New York-based electric-vehicle (EV) battery maker Ener1 announced January 26 that it filed a “pre-packaged” Chapter 11 bankruptcy petition in U.S. Bankruptcy Court in New York, following an agreement with investors and lenders.
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Maersk’s Completes 6,500 Nautical-Mile Marine Biofuel Test
Maersk Line has completed the testing of Solazyme’s 100% algal-derived renewable diesel as part of an integrated testing and certification program with the U.S. Navy, Solazyme reported January 23.
Margins & Economics
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Gulf Coast 3-2-1 Crack Spread Declines 6.45% in Week Ending January 20
The 3-2-1 crack spread for the Gulf Coast fell 6.45% from US$19.84 per barrel (/bbl) to $18.56/bbl in the week ending January 20. The New York 3-2-1 crack spread lost 2.62% from $19.84/bbl to $19.32/bbl for the same period.
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Gulf Coast Aromatics Prices Mostly Higher in Week Ending January 26
U.S. Gulf Coast aromatic spot prices were mostly higher, except for toluene, and other prices were mixed in the week ending January 26.
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NYMEX WTI Ends Lower; Gasoline Rallies
NYMEX light, sweet crude for March delivery settled at US$99.56 per barrel (/bbl), down 14¢ on January 27, erasing all earlier gains as a lower-than-expected gross domestic product reading for the fourth quarter of 2011 turned oil investors cautious.
Public Policy
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CARB OKs ZEV, ‘Clean Fuels Outlet’ Mandates
The California Air Resources Board (CARB) on January 27 voted to approve rules that will force the sale of at least 1.4 million electric vehicles (EVs), hydrogen fuel-cell vehicles or plug-in hybrid-electric vehicles (PHEVs) that qualify as “zero-emission vehicles” (ZEVs) by 2025.
