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...
Royal Dutch Shell announced six new biofuel research agreements with experts in academic institutions across the world as part of the company’s ongoing biofuels research and development program.
Oil prices moved above $100 a barrel on Friday as some hope was restored on Wall Street that US government intervention could help ease the credit crisis. Oil cleared $103 earlier in today’s session after falling more than $10 on Monday and Tuesday on fears that the crisis on Wall Street would further reduce demand for petroleum products.
San Diego-based Sapphire Energy said it has raised over $100 million from investors for its commercial algal biofuel plant, which is expected to be producing in three to five years. Cascade Investment, owned by Bill Gates, is also investing in Sapphire Energy.
In Alabama, Governor Bob Riley has awarded $1.1 million to six local governments to explore and develop renewable energy sources. Each locality will collaborate with Alabama University on projects to reduce energy costs. Also in Alabama, the Alabama Institute for Deaf and Blind is converting used cooking oil from campus kitchens and restaurants in Talladega County into biodiesel.
In California, the first-ever Pozo Green Music Festival will feature stages powered by solar energy and biodiesel. The biodiesel generators for the main stage will be provided by BidForGreen.
Many US ethanol makers lost money this week on soft prices after Hurricane Ike and on high prices for corn, analysts said. US distillers had lost a few cents per gallon on average for the week ending on Wednesday.
Petrobras Biocombustiveis aims to produce 1.3 billion gallons of ethanol and 248 million gallons of biodiesel by 2012, the company’s President said. To reach this goal, Petrobras will need a five-fold increase in its biodiesel production.
According to a report released last week by Brazil’s Agriculture Ministry, in the first half of 2008 Brazil consumed 2.4 billion gallons of gasoline and 2.38 billion gallons of ethanol. However, because ethanol consumption has been trumping gasoline for the last five months and is less expensive, ethanol consumption is expected to outpace gasoline by the end of the year.
Italy will stick to its goal to boost biodiesel output despite the European Parliament's plans to lower a key target for biofuels use, Reuters reports. Italy's biodiesel output is expected to reach about 1 million mt in 2008, according to Italy’s Biodiesel Union.
In France, Cargill’s Montoir-de-Bretagne rapeseed biodiesel plant went on line and will be processing 600,000 mt of rapeseed per year. The fuel will be available in blends up to 6% at Total pumps at the port of Nantes/Saint-Nazaire.
Romanian Euroconsult has sold bankrupted biodiesel refinery Petrolsub Balc to Oradea-based Ecodiesel for about $21 million. Petrolsub, which went bankrupt in April 2007, has debts of over $48 million.
ASIA / PACIFIC
China Biodiesel announced a 25% increase in first half pre-tax profits and 70% increase in sales after overcoming rising raw material costs and competitive pricing in the market by sourcing cheaper feedstock and diverting production to higher-margin B1 and B2 biodiesels used by chemical manufacturers, according to the company.
Rotary Engineering of Singapore has secured a $38 million engineering, procurement and construction contract to build 11 storage tanks for Neste Oil's Singapore biofuel plant. The contract involves feedstock tanks, bio-naphtha tanks, and tanks for the process and utility area.
Soybean futures on the NCDEX may remain weak over the next few days due to higher production estimates amid favorable weather in major growing areas. The sharp fall in crude oil prices also generated selling pressure in the soy complex on biodiesel concerns.
At an Air New Zealand environmental briefing, Boeing’s Director of Environmental Performance said the company is confident that commercially viable biofuel will be available to partially power aircraft by 2013.
In New Zealand, B L Rayners Ltd. is working in tandem with Christchurch-based Solvent Rescue Ltd. to develop machinery that will process sewage algae into crude oil. The companies expect to market and manufacture the machinery in Invercargill as early as next year.
The Baulkham Hills Shire Council operations manager said following the successful six-month trial earlier this year on four vehicles, the council has decided to expand the use of blended biodiesel to power 90% of its operational fleets. The council will use a B20 blend made from waste cooking oil.
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