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Current Downstream Headlines
Outlook & Insights
Energy Costs and the Cruising Industry
(Wednesday, March 10, 2010) The Baltic Dry Index has been diving lately, falling about 40% and bringing the rate shippers pay to charter vessels down to their lows of October 2009.
World NG Demand To Absorb Excess Supply - Execs
(Wednesday, March 10, 2010) Energy executives see world demand for natural gas growing significantly, absorbing excess supply and tightening gas markets.
Calif. Legislative Analyst: GHG Law Could Cost Jobs
(Tuesday, March 09, 2010) The Legislature's nonpartisan analyst says California's landmark greenhouse gas reduction law could cost jobs in the near term, while its long-term impact is uncertain.
CERAWeek Panel: Developing Nations Key To Energy Future
(Tuesday, March 09, 2010) A shifting center of gravity from the developed to the developing world will redefine the energy landscape over the next two decades.
X-PRIZE's Cahill: Advancing An Automotive Revolution
(Monday, March 08, 2010) Teams in the Progressive Insurance Automotive X PRIZE competition are vying for a chance to mass-produce vehicles whose fuel efficiency exceeds 100 MPG.
Refining
Saipem Wins EPC Contract from Pemex
(Wednesday, March 10, 2010) Saipem has been awarded by the Mexican Oil Company PEMEX the EPC contract for two
desulphurization units and two amine regeneration units to be built at two of the client's refineries.
Valero: Still Considering Options for Aruba Refinery
(Wednesday, March 10, 2010) Valero Energy Corp. Chief Executive Bill Klesse said Tuesday that he is considering selling the Aruba refinery or taking on a partner in the money-losing operation that has been shut down since last year.
Gulf Oil Returns To Kentucky
(Wednesday, March 10, 2010) Gulf Oil announced Wednesday a return to the Bluegrass State with the initial signing of a branded distributor agreement with Southern Petroleum of Somerset, Ky.
KBR Wins Toledo Refinery Contract
(Wednesday, March 10, 2010) KBR has been awarded a contract with BP-Husky to provide engineering, procurement and other project related services for BP-Husky Refining LLC's $400 million Reformer 3 equipment upgrade of its Toledo Refinery located in Oregon, Ohio.
Honeywell Secures Five-year Automation Deal with Shell
(Tuesday, March 09, 2010) Honeywell announced Monday that it has signed a global five-year agreement to be a Main Automation Contractor (MAC) for Shell.
Biofuels
Imperium Resumes Biodiesel Production
(Wednesday, March 10, 2010) Imperium Renewables, one of the nation's largest producers of biodiesel, announced it has
restarted production at its Grays Harbor, Wash., facility.
NBB Applauds Senate Passage of Biodiesel Tax Break
(Wednesday, March 10, 2010) The National Biodiesel Board (NBB) on Wednesday praised the U.S. Senate for passing H.R. 4213, the American Workers, State, and Business Relief Act of 2010 by a 62 to 36 margin.
Albemarle Joins Biofuels R&D Endeavor
(Tuesday, March 09, 2010) Albemarle Corp. announced Tuesday that it will participate in the National Advanced Biofuels Consortium (NABC) that will conduct research to develop clean sustainable transportation fuels.
S4 To Develop Plasma Gasification Facility At Ore. Landfill
(Thursday, March 04, 2010) S4 Energy Solutions LLC, a joint venture by Waste Management, Inc. and InEnTec LLC, on Wednesday announced plans to develop a plasma gasification facility at Waste Management's Columbia Ridge Landfill in Arlington, Oregon.
Range Fuels Receives Federal Loan Guarantee
(Thursday, March 04, 2010) Range Fuels, Inc. on Wednesday announced that it had received a loan note guarantee from the U.S. Department of Agriculture and closed its related $80 million bond issuance.
Petrochemical
Drevna: Modernize TSCA But Don't Rewrite It
(Tuesday, March 09, 2010) "NPRA and its members support responsible modernization of our nation's chemicals risk management policies; however, we believe that a wholesale rewrite of TSCA is neither necessary nor desirable," NPRA's president testified Tuesday.
UPDATE: Petrobras Implements Comperj Contracts
(Tuesday, March 09, 2010) The ceremony for the signing of contracts for the implementation of the Rio de Janeiro Petrochemical Complex (Comperj) was held Monday in Itaborai in Brazil's Rio de Janeiro state.
Sasol Awards SNC-Lavalin Fertilizer Plant Contract
(Tuesday, March 09, 2010) SNC-Lavalin announced Monday that it has been awarded a contract by Sasol Nitro to provide engineering, procurement and construction management (EPCM) services for a new 400,000 Mtpy calcium ammonium nitrate (CAN) production plant.
ACC Calls for Open Dialogue on TSCA
(Tuesday, March 09, 2010) ACC President and CEO Cal Dooley on Tuesday submitted a statement for the record to the Senate Environment and Public Works Committee's Subcommittee on Superfund, Toxics and Environmental Health hearing on reform of the Toxic Substances Control Act.
Lanxess To Expand Global Nd-PBR Capacity
(Tuesday, March 09, 2010) The world's leading synthetic rubber company Lanxess has decided to expand the global capacity of its high-performance rubber Neodymium Polybutadiene (Nd-PBR).
Pipelines
PVR Reaches Marcellus Gathering, Compression Deal with Range
(Wednesday, March 10, 2010) PVR Midstream has entered into an agreement with a subsidiary of Range Resources to construct and operate gas gathering pipelines and compression facilities servicing Range's Marcellus Shale natural gas production primarily in Lycoming County, Pa.
Canadian Pipeline Group Backs Govt Changes To Approvals Process
(Tuesday, March 09, 2010) The Canadian Energy Pipeline Association (CEPA) announced Tuesday that it applauds the federal government's decision to eliminate red tape in pipeline projects which are federally regulated.
Spectra To Expand E. Tenn. Pipeline System
(Tuesday, March 09, 2010) Spectra Energy Partners, LP on Monday announced it has signed a precedent agreement with the Tennessee Valley Authority (TVA) for an expansion of its East Tennessee Natural Gas (ETNG) pipeline system.
Buckeye Launches Open Season for Marcellus NGL Pipeline
(Tuesday, March 09, 2010) Buckeye Partners, L.P. announced Tuesday that it is currently holding
a non-binding open season through March 31, 2010 for its previously
announced Union Pipeline project.
Fayetteville Express Construction Begins
(Monday, March 08, 2010) Fayetteville Express Pipeline, L.L.C., announced Monday that construction has begun on the Fayetteville Express Pipeline (FEP), a 50/50 joint venture between Energy Transfer Partners, L.P. (ETP) and Kinder Morgan Energy Partners, L.P. (KMP).
Terminals & Storage
AGL Mourns Death of Sequent President
(Wednesday, March 10, 2010) AGL Resources reported Wednesday that one of its executives, Sequent Energy Management President Douglas N. Schantz, was found deceased Tuesday after apparently falling accidentally into the Mississippi River in New Orleans.
B&W, Fluor To Market Carbon Capture Tech
(Tuesday, March 09, 2010) Babcock & Wilcox Power Generation Group, Inc. (B&W) and Fluor Corp. have formed a strategic alliance to market and sell carbon dioxide (CO2) capture systems for existing coal-fired power plants in the United States and Canada.
Terra Plans Biodiesel Terminal In Western Pa.
(Tuesday, March 09, 2010) Terra Energy Resources, Ltd. announced Tuesday the final negotiations for the acquisition of an oil terminal located in western Pennsylvania.
Somali Pirates Hijack Norwegian Tanker
(Monday, March 08, 2010) Somali pirates have hijacked a Norwegian-owned chemical tanker with a crew of 21, European Union naval forces said Saturday.
Oil-Tanker Market Poised for Recovery
(Friday, March 05, 2010) Oil-tanker companies are more optimistic for 2010 as the economic recovery is expected to stimulate oil consumption and boost shipping volumes.
LNG / LPG
Prelude Floating LNG Project Enters FEED
(Tuesday, March 09, 2010) Shell signed two contracts Monday with the Technip and Samsung Heavy Industries consortium for the Prelude floating liquefied natural gas (LNG) project off the coast of Western Australia.
Canaport LNG Awards Jacobs Two-year Contract
(Tuesday, March 09, 2010) Jacobs Engineering Group Inc. announced Tuesday that it received a two-year contract from Canaport LNG for the provision of maintenance and related services at the company's LNG Terminal in Saint John, New Brunswick, Canada.
EDF, Total Sign Dunkirk LNG Agreement
(Monday, March 08, 2010) EDF and Total on Monday announce the signature of an agreement whereby Total will reserve regasification capacity in the planned Dunkirk LNG terminal being developed by Dunkerque LNG, a wholly owned EDF subsidiary.
China Natural Gas Announces Jingbian LNG Contract
(Friday, March 05, 2010) China Natural Gas, Inc. announced Thursday that it has signed an installation contract with China Nuclear Industry Fifth Construction Co., Ltd. for its LNG project to ensure the project be completed by June 30, 2010.
NGC Opposes Effort To Repeal FERC's LNG Role
(Thursday, March 04, 2010) The members of the Natural Gas Council (NGC) on Wednesday expressed their opposition to S. 3056, legislation that would repeal provisions of the Energy Policy Act of 2005 that deal with the approval and siting of LNG terminals.
Commodities
World NG Demand To Absorb Excess Supply - Execs
(Wednesday, March 10, 2010) Energy executives see world demand for natural gas growing significantly, absorbing excess supply and tightening gas markets.
Crude Regains Upward Momentum, Tops $82
(Wednesday, March 10, 2010) NYMEX crude topped $82 a barrel Wednesday as last week's drawdown in fuel supplies spurred traders to open wallets for energy commodities late in the session.
US Average Gasoline Price Set To Pass $3 Mark
(Tuesday, March 09, 2010) The national average price for a gallon of gasoline is up 9 cents in a month and will likely crack $3 in coming weeks, given a typical spring rally before the summer driving season, oil and gas analysts say.
Oil Pares 8-Week High; Steadies above $81
(Tuesday, March 09, 2010) NYMEX crude oil futures maintained a bullish price tag above $81 a barrel Tuesday, despite a stronger dollar and forecasts for an additional build in crude stocks.
Platts: Global Petchem Prices Rose Again In Feb.
(Monday, March 08, 2010) Prices in the $2.8 trillion global petrochemicals business continued their advance in February, holding on to the dramatic gains seen in January.
Finance & Acquisition
Chevron To Scale Back Downstream Presence
(Tuesday, March 09, 2010) Chevron Corp. plans to continue cutting its downstream workforce, reduce its costs and exit markets to position itself to be more streamlined for future growth.
Israel's ORL Acquires Remaining Haifa Basic Oils Stake
(Tuesday, March 09, 2010) Oil Refineries Ltd. (ORL), Israel's largest oil refiner, announced Monday that it has acquired the remaining shares of Haifa Basic Oils Ltd (HBO) from Sonol Israel Ltd and Granite Hacarmel (investments) Ltd.
Sasol Announces Interim Half-year Results
(Monday, March 08, 2010) Sasol Limited on Monday reported its interim financial results for the six months ended December 31, 2009.
Afton Acquires Additives Supplier
(Monday, March 08, 2010) Afton Chemical Corp., a global leader in the lubricant and fuel additive market, has completed its acquisition of Polartech.
ONEOK To Join S&P 500
(Friday, March 05, 2010) Tulsa-based natural gas distributor ONEOK Inc. will replace 100-year-old tool company Black & Decker Corp. on the Standard & Poor's 500 index.
People on the Move
Al-Zahrani Joins NACE Board
(Wednesday, March 10, 2010) Saudi Aramco corrosion specialist Ahmed M. Al-Zahrani has been elected to the NACE International Board of Directors for the next three years. He will represent the NACE-West Asia and Africa Region.
Pichette Joins Amyris Board
(Tuesday, March 09, 2010) Amyris Biotechnologies, Inc. announced Monday that Patrick Pichette is joining the company's board of directors. Pichette will also serve as chair of Amyris' audit committee.
Albemarle Names Daniel Chief Compliance Officer
(Tuesday, March 09, 2010) Albemarle Corp. announced Monday that the company's Board of Directors has elected Assistant General Counsel Nicole C. Daniel to the position of Vice President, Chief Compliance Officer and Corporate Secretary effective immediately.
R.J. O'Brien Opens Shop In Houston
(Tuesday, March 09, 2010) R.J. O'Brien & Associates (RJO), the largest independent futures brokerage firm in the United States, on Tuesday announced that it has just opened a Houston office to spearhead the firm's energy brokerage business and hired two experienced brokers.
Hibner, Ludwig Join Hawkeye Gold
(Tuesday, March 09, 2010) Hawkeye Gold, LLC on Tuesday announced two key additions to its senior management team.
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