Global News Summary
North America US SOY OIL STOCKS REVISED UPWARDS US C...
Global D-8 COUNTRIES DISCUSS ALTERNATIVE ENERGY ...
Global OIL HITS HIGHEST LEVEL SINCE NOVEMBER Crude oil on the NYMEX rose ...
Global OIL HEADS FOR LARGEST MONTHLY GAIN IN 10 YEARS Oil rose to a...
[Global GLOBAL ENERGY DEMAND TO SOAR 44% Global energy co...
Global GLOBAL ETHANOL DEMAND TO INCREASE 9% ANNUALLY Glo...
North America OBAMA PROPOSES NEW AUTO STANDNARDS FOR EMMIS...
GLOBAL In 2008, for the first time, the EU and US both added more power capac...
Global BIODIESEL FEEDSTOCKS GAIN ON WEEK Soybean oil prices rose abo...
Global GLOBAL OILSEED PRODUCTION TO HIT RECORD HIGH Global oilseed ...
US SOY OIL STOCKS REVISED UPWARDS
US Census Bureau has revised upward its April soy oil stocks estimate to 3.159 billion pounds, up from its preliminary estimate of 3.134 billion pounds, according to the Census Bureau's Fats and Oils stocks report.
SANIMAX TEMPORARILY HALTS DEFOREST BIODIESEL PLANT
Sanimax Energy is temporarily halting operations at its biodiesel plant in DeForest, WI, the company announced this week. The company is laying off about two-thirds of its 30 employees at the facility due to the current state of the economy.
OIL RISES ABOVE $70 ON US LABOR REPORT
Crude-oil futures prices rose above $70 a barrel Friday for the first time in seven months after the US Labor Department reported that 345,000 payroll jobs were lost in May, lower than expected. US unemployment jumped to a 26-year high of 9.4% in May.
BRAZIL SOY CROP ESTIMATE TO BE UPDATED MONDAY
Brazil's National Commodities Supply Corp. will release its ninth official estimate of the 2008-09 soy crop on Monday. Conab stated in May that Brazil should harvest 57.6 million mt of soybeans from the
COMPANIES PARTNER ON BRAZIL BIOFUEL PIPELINE
In Brazil, Mitsui, Petrobras and Camargo Correa have partnered to build a pipeline, PMCC, that will link Minas Gerais to Sao Paulo state, and then to ports and export terminals in Sao Sebastiao and Ilha d'Agua. The pipeline is expected to be completed in 2012, and will transport 3.17 billion gallons of ethanol per year. Read more [http://cts.vresp.com/c/?WorldEnergyAlternati/2551554986/TEST/bbf87092be]
D1 OILS UNABLE TO RAISE FUNDS FOR JATROPHA VENTURE
In the UK, D1 Oils said that efforts to raise funds for their jatropha joint venture with BP by selling a stake in the venture have faltered, and that the board of D1 Oils anticipates that the Joint Venture will have a "carrying value of zero" in D1's preliminary results for the
year ended December 31, 2008. Read more
ECOFASA CONVERTS WASTE TO BIODIESEL FEEDSTOCK
Spain-based Ecofasa has stated that they developed a process to convert municipal solid waste into biodiesel feedstock by utilizing the natural processes by which organisms produce fatty acids. Read more [http://cts.vresp.com/c/?WorldEnergyAlternati/2551554986/TEST/54e8667434/article=142116]
PRIO EXPANDS TO EXPORT BIODIESEL TO SPAIN
Portugal-based biodiesel company Prio is expanding production to export to Spain, but the country's production capacity already exceeds demand, according to Prio. The company expects to exceed last year's sales of $71 million and production of 24,565 mt of biodiesel.
CARGILL OPENS GLYCERIN FACILITY IN GERMANY
Cargill has started production at its new glycerin refinery in Frankfurt, Germany, located adjacent to its biodiesel plant in the Höchst Industrial Park.
Asia / Pacific
INDONESIA CPO PRODUCTION TO INCREASE
Indonesia`s crude palm oil production will increase 5-10% as harvesting is about to commence, the Indonesian Palm Oil Producers
Association predicted. CPO production in the Jan-Apr 2009 period
reached 5 million mt.
INDIA MUST INCREASE PALM IMPORT PRICE TO STOP RALLY
India, the world's biggest buyer of vegetable oils after China, must increase the benchmark import price of refined palmolein to prevent a glut of imported edible oils, Adani Wilmar Ltd. said, recommending an
increase in the tax that may help cool this year's 52% rally in
global palm oil prices, Bloomberg reports. Read more [http://cts.vresp.com/c/?WorldEnergyAlternati/2551554986/TEST/65cec9c2f1/pid=20601091&sid=amRd4CYbUruY&refer=india]
US EPA RENEWABLE FUELS GHG LIFECYCLE RULE MET WITH STRONG OPPOSITION
US Senate Agriculture Committee Chairman Tom Harkin said he is doubtful that the final RFS rule will include the same application of indirect land use that has made the EPA proposal controversial.
Committee Chairman Collin Peterson has also disapproved of ILUC, recently saying, "Why would you put indirect costs for corn and soybeans, and not oil?"
EPA's ILUC analysis did not consider upstream activities of gasoline or petroleum, such as GHG and environmental impacts associated with ocean transport, international military and security measures to maintain foreign oil supplies, and the impact of current and future oil exploration.
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