Global News Summary
WEDNESDAY EDITION July 28, 2010 Volume 6 Issue 78 Global BP REPORTE...
WEDNESDAY EDITION July 21, 2010 Volume 6 Issue 75 Global GOLDMAN SA...
FRIDAY EDITION July 16, 2010 Volume 6 Issue 73 North America DEMOCR...
WEDNESDAY EDITION July 14, 2010 Volume 6 Issue 72 Global OILEASES B...
North America MASSACHUSETTS SUSPENDS BIODIESEL MANDATE Massachusetts has s...
WEDNESDAY EDITION June 23, 2010 Volume 6 Issue 66 Global OIL FALLS ...
North America NO CLEAR ANSWERS ON ENERGY LEGISLATION YET Senate Majority L...
North America BP ATTEMPTS AGAIN TO SHUT GULF OIL WELL BP’s planned attempt ...
North America ASA: SOY BIODIESEL CAN FULFILL RFS WITHOUT NEGATIVE IMPACTS...
North America EPA TO BEGIN ANALYSIS OF PROPOSED CLIMATE BILL The US EPA wil...
GLOBAL SOYBEAN EXPORTS TO FALL
Global soybean exports will fall to 42 million mt between June-August
2009 as China will sharply reduce soybean imports in the next three months due to higher soybean prices, Oil World reports.
US HOUSE TO VOTE ON CLIMATE CHANGE BILL FRIDAY
US Democratic leaders in the House have scheduled a Friday vote on a 1,201-page climate change bill that would establish a cap-and-trade
system to limit GHG emissions. The legislation "will spark a clean
energy transformation that will reduce our dependence on foreign oil and confront the carbon pollution that threatens our planet," Obama stated this week. Read the the legislation [http://cts.vresp.com/c/?WorldEnergyAlternati/16ddf43685/TEST/9e05a8e97a]
US AND CHILE COOPERATE ON CLEAN ENERGY
US DOE and the Chilean National Energy Commission signed a memorandum of cooperation this week to collaborate on energy issues, including biofuels. Chile's Renewable Energy Center will also receive DOE technical support for clean energy development.
GREENHUNTER MAY SELL HOUSTON BIODIESEL PLANT
GreenHunter Energy has retained an unnamed investment banking firm to seek a potential buyer for its 105 million gal/yr Houston, TX biodiesel plant. The bank will also consider a strategic partner, alternative financing, or new equity capital that would allow the biodiesel refinery operate. Read more [http://cts.vresp.com/c/?WorldEnergyAlternati/16ddf43685/TEST/df6e396c8d]
USDA APPROVES BIODIESEL LOAN THROUGH FARM BILL
USDA Rural Development has approved a $25 million guaranteed loan through the Biorefinery Assistance Program of the 2008 Farm Bill for SoyMor Biodiesel to expand its operations by purchasing equipment that
will enable the biodiesel plant to process multiple feedstocks. The
biodiesel plant has a capacity of 30 million gal/yr. Read more [http://cts.vresp.com/c/?WorldEnergyAlternati/16ddf43685/TEST/28ce21a1df/contentidonly=true&contentid=2009/06/0223.xml]
BRAZILIAN MINING COMPANY TO PRODUCE BIODIESEL
Brazilian miner Vale will save an estimated $150 million in fuel costs starting in 2014 by producing its own palm-oil based biodiesel, the company said on Wednesday. The $500 million JV between Vale and Brazil's Biopalma da Amazonia will produce 160,000 mt/yr of biodiesel, Reuters reports [http://cts.vresp.com/c/?WorldEnergyAlternati/16ddf43685/TEST/46fa29eb10]
UK-BASED GREEN FUELS FORMS US BIODIESEL COMPANY
UK-based Green Fuels has acquired the assets of Renewal Fuels and Renewal Biodiesel to create Green Fuels America, Inc. headquartered in Nevada, US. The company will manufacture small-scale waste-to-biodiesel production units.
MERCURIA TRADING SECURES $685 MILLION CREDIT FACILITY
Swiss energy and biodiesel trader Mercuria Energy Trading said on Wednesday it has signed a $685 million, 364-day revolving credit facility. A total of 21 banks committed to the facility, which will be used for "general corporate purposes", Dow Jones reports. Read more [http://cts.vresp.com/c/?WorldEnergyAlternati/16ddf43685/TEST/8d2ecbb746]
Asia / Pacific
ONLINE EXCHANGE CREATED FOR PHYSICAL CPO MARKET
This week, the Jakarta Futures Exchange launched Indonesia's first organized physical market for crude palm oil in which the commodity will be traded exclusively online. The government may also consider incentives for private CPO producers to join JFX trading.
CHINA SOYBEAN IMPORTS REVISED DOWNWARD
China's Ministry of Commerce revised downward its estimate of soybean imports in June to 4.34 million mt from 4.617 million mt. Despite the revision, June soybean imports were still at a record monthly high.
CPO FUTURES JUMP ON CHINA GDP GROWTH ESTIMATE
CPO futures jumped 6% on Tuesday as China's annual GPD growth for the
Q2 was estimated to rise to 8% from 6.1% in Q1, increasing the demand for vegetable oils. Benchmark September contract closed up at 646/mt, according to market reports.
INDONESIA CPO EXPORT TAX TO REMAIN AT 3%
Indonesia CPO export tax will remain at 3% in July while cutting down the CPO base export price to $683/mt from $700/mt in June. The Indonesian Palm Oil Board has forecast that CPO exports will increase from 14.29 million mt in 2008 to 16 million mt in 2009.
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