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...
UNIVERSITY RESEARCHERS PUBLISH SUPPORT OF BIOFUELS
Researchers from high-profile universities, including MIT and Princeton, released a publication, Food, Energy and Environment Trilemma, this week arguing that, “The world needs to replace fossil fuels with renewable energy,” but biofuels need to be produced properly from low lifecycle GHG emission feedstocks. A Princeton professor also included, "It is essential that legislation take the best science into account, even when that requires acknowledging and undoing earlier mistakes." Read more
NEW BIODIESEL PLANT PLANNED IN TENNESEE
The University of Tennessee is planning a 380k gal/yr used cooking oil to biodiesel plant and biodiesel research center at its agricultural campus in the Knoxville, TN area.
CANADA AND EU RESOLVE GM CANOLA ISSUE
Canada's WTO trade dispute with the EU over genetically modified organisms has come to a close, and will benefit the country's canola sector as the mutually agreed solution includes meeting twice a year to discuss biotechnology and agriculture trade issues. The resolution will allow Canadian canola access to the EU market once again.
PANDA ETHANOL DISSOLUTION APPROVED
Texas-based Panda Ethanol, whose Hereford subsidiary filed for Chapter 11 earlier this year, announced Friday that stockholders have approved a dissolution and liquidation, "As of the close of business on July 16, 2009, Panda Ethanol's stock transfer books were closed, and Panda Ethanol submitted a request to the Pink Sheets to suspend quotation," the company explained, OPIS reports.
BRAZILIAN ETHANOL EXPORTS DOWN FROM LAST YEAR
Total Brazilian ethanol exports since the beginning of this season’s harvest totaled 260-million gallons, compared to 290-million gallons in the same period last year, with significant reduction in anhydrous ethanol exports to the US. However, direct exports to the US have been offset by an increase in exports to India, Japan, and South Korea.
RFA REPORTS ON BIODIESEL IN RFTO
This week the RFA released its biofuels report for the first year of the RTFO in which parties were required to submit monthly data. The report shows that 82% of the UK biofuels market has been biodiesel over ethanol, with the majority feedstock being US soy (27%). Most RTFO targets were met, except only 24% of biofuels met an environmental standard from a 30% goal. Read the report
SECOND GEN BIOFUELS COMMERCIALIZATION NOT EXPECTED UNTIL 2011
The EU’s Joint Research Centre has stated that 80-90% of the 10% renewables target in EU transport fuels will likely come from ‘first generation’ biodiesel blends. Second generation biofuels from non-food materials will not play a significant role in the next ten years and their commercial use is not expected until 2011 in the US.
SPANISH BIODIESEL MARKET BEING CONTROLED BY IMPORTS
The Spanish biodiesel market is being controled by imports from Argentina, Malaysia, Italy, and the Netherlands, leaving local market share at around 10% with only three biodiesel plants producing regularly. BP, Repsol, and CEPSA are relying mainly on direct imports from Argentina and Malaysia, while local producers are unable to be competitive in the market with locally sourced material sold at the same price as the Rotterdam market, according to market reports.
TURKEY BIODIESEL PRODUCERS SEEK GOVERNMENT SUPPORT
In Turkey, biodiesel producers have called on the government for greater support for biofuels use in the country as many small biodiesel plants have been erected in the past couple years on the EU’s influence and high crude oil prices. Currently, a lack of a sufficient biodiesel mandate and tax incentives are hindering the industry.
BP SELLS BACK STAKE IN JATROPHA BIOFUEL JV
BP has sold its stake in its jatropha biofuel JV for $814k back to D1 Oils. BP had originally planned to invest $160 million between 2007 and 2012 in the venture, but will now focus new business development on cellulosic ethanol and biobutanol. Read more
Asia / Pacific
CPO FUTURES RISE TO WEEK-HIGH ON FRIDAY
Malaysian CPO futures rose to a week's high Friday, ending up 5.1% at $595/mt as investors covered short positions on a rebound in prices and spillover support from soyoil, Dow Jones reports. Read more
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