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...
News of the Day
A survey of 1,000 professionals in 105 countries by the World Conservation Union unveiled at the UN climate convention meeting in Bali found that 21% believed in biofuel’s potential to ‘lower overall carbon levels in the atmosphere without unacceptable side effects’ over the next 25 years. Almost twice as many were confident in the potential of nuclear energy.
Arizona-based Diversified Energy Corp has been awarded a US Department of Defense contract for renewable fuel production that could be worth up to $100 million. The project goal is to create portable renewable fuel systems for multiple military uses. DOD budgets approximately $9 billion for fuel purchase, making it the largest fuel consumer in the US and one of the largest in the world.
Royal Dutch Shell and HR Biopetroleum have announced construction of a pilot facility in Hawaii to grow marine algae and produce vegetable oil for conversion into biofuel. A joint venture company, Cellana, will develop this project, with Shell taking the majority share. Construction of the demonstration facility on the Kona coast of Hawaii will begin immediately.
In case the US energy bill falters, an amendment to the US farm bill would require the use of 36 billion gallons of biofuels by 2022, of which 15 billion gallons would come from corn. Advanced biofuels would have to contribute 3 billion gallons in 2016 and 21 billion gallons in 2022. US Senate leaders say they hope to pass the five-year, $286 billion farm bill by the end of this week. A vote on the US Senate energy bill is possible this week.
Canada’s government is reintroducing a Renewable Fuels Bill that would require 5% ethanol in petrol by 2010 and 2% biodiesel in diesel fuel and heating oil by 2012. The proposed legislation was part of the Clean Air Act that died when the last Parliament was prorogued in September.
Petrobras has signed feedstock purchase agreements with seven family farmer co-operatives in Bahia. The feedstock will be used for biodiesel production at the company's Candeias plant which is set to begin operation in the first quarter of 2008. The agreements will provide feedstock for about half of the production capacity of the Candeias plant.
The Inter-American Development Bank has approved a $350,000 loan for Special Operations to support energy efficiency and national biofuel programs in Honduras.
D1 Oils said yesterday that the influx of subsidized US biodiesel to Europe is putting the entire EU green fuel industry at risk. 'If these practices are not stopped, there will be no biodiesel refining industry in Europe,' said Karl Watkin, founder of D1 Oils.
German biofuel manufacturer EOP Biodiesel has reported a 72% increase in revenue for the first quarter of 2008. The company has almost completely withdrawn from the pure biodiesel market and is seeking to establish itself in the blended biodiesel business. EOP is also focusing on increasing its contracts with the petroleum industry. According to the company, Austrian biofuel firm Abid, in which EOP has a 56% share, is attracting significant interest from the capital market, which is prompting the parent firm to consider an IPO.
The UK’s first alternative fuels research centre has opened in Napier University, Edinburgh with more than $1 million in funding. The center will make sustainability of biofuels one of its highest priorities.
ASIA / PACIFIC
Indonesia has no plans to alter the current palm oil export tax, its Trade Minister said yesterday. The tax program, under which export tax rates are adjusted monthly depending on movements of crude palm oil prices in international markets, was introduced to contain soaring palm-oil prices. Crude palm oil is subject to a maximum 10% tax rate if international markets average $850 a ton.
Malaysia's palm oil output will be less than forecast this year due to ongoing floods in many palm oil producing regions. Production is likely to drop to around 15.7 million mt this year from an earlier forecast of 16.2 mt. The floods in Johor, one of the largest palm oil producing provinces, are expected to affect output.
Monsanto has criticized a decision by South Africa to exclude maize from its biofuels policy. Monsanto and farmers' umbrella body Grain South Africa oppose the decision, saying it would hurt farmers and deal a blow to the government's land reform policy.
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