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 BPís 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...
CARBON OVERSIGHT PROPOSED FOR SENATE CLIMATE BILL
Senate Environment and Public Works Chairwoman Barbara Boxer plans to include carbon market oversight legislation drafted by Sen. Feinstein and Sen. Snowe in the Senate climate bill. Feinstein and Snowe introduced thier legislation this month, S. 1399, which differs from the House bill.
BIODIESEL PRICES DROP ON WEEK
On average, US biodiesel rack prices dropped over 11cts last week to below $3.21/gal, while diesel rack prices jumped more than 4cts last Thursday to $1.72/gal. With the blenders credit included, B100 rack costs averaged less than 49cts more than petroleum diesel, according to market reports.
AUTOMAKERS URGE EPA NOT TO APPROVE HIGHER ETHANOL BLEND
US automakers have requested the EPA not to approve higher ethanol blends in gasoline until more tests prove the fuel would not damage vehicles. However, the association of US Ethanol Producers stated that the blend increase is supported by science. The EPA has until Dec. 1st to rule on an increase over the current E10 level.
BRAZIL SOY CROP MAY HIT RECORD HIGH NEXT YEAR
Brazilís 2009-10 soybean crop may reach a record high as farmers are estimated to plant 3-5% more beans instead of corn, cotton or rice. In conjunction with favorable weather, the soy crop is forecast at over 60-million mt.
BRASIL ECODIESEL COMPLETES RESTRUCTURING
After successfully concluding restructuring, Brasil Ecodiesel has carried out a $55-million capital increase, the company reported in their quarterly results released this week. The company also reported 57k mt in new biodiesel sales contracts for Q3 2009 and net revenue of $27-million.
Asia / Pacific
INDONESIA MAY REMOVE CPO EXPORT TAX
Indonesia may remove an export tax on crude palm oil in August after prices of the fell more than expected. The government may also cut the base price used to calculate the duty to $573/mt from $683.
MALAYSIAN PALM OIL EXPORTS ESTIMATED UP 10-16%
Cargo surveyors ITS and SGS reported export estimates for Malaysian palm oil products during July 1-20 up 16% and 10%, respectively, from June. ITS put exports at over 913k mt, while SGS pegged them at 875 mt.
INDONESIA CPO OUTPUT MAY FALL ON EL NINO
Indonesia's CPO output may fall by 15%-20% next year if dry weather caused by El Nino delays the rainy season, Dow Jones reports. Farmers are being urged to increase fertilizers and improve irrigation to reduce the impact of drought or reduced rainfall. The rainy season is expected to start at the end of September, but could be pushed to early 2010.
CHINA SOY IMPORTS RISE 31% IN JUNE
China's soybean imports in June rose 31% to 4.71-million mt, the General Administration of Customs said Wednesday. Read more
BIODIESEL TO BE DISTRIBUTED IN ETHIOPIA
Ardent Energy Group has announced an agreement with Yetebaberut Beherawi Petroleum to distribute biodiesel in Ethiopia. According to Ardent, the biodiesel feedstock is grown and processed into fuel in Ethiopia in hopes to help the country become energy self-sufficient.
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