US EPA approves Texas' first CO2 injection well
The U.S. Environmental Protection Agency issued the first permit in Texas to oil company Occidental to allow drilling for carbon dioxide storage and injection on Monday. Oxy Low Carbon Ventures, a subsidiary of the company, received a Class VI permit for drilling three CO2 wells at Ector County within the Permian basin. The project is part of Stratus Direct Air Capture joint venture between BlackRock and Oxy Low Carbon Ventures to inject 8.5 millions metric tons CO2. Carbon sequestration was a major part of the administration of former president Joe Biden…
Occidental’s 1PointFive is granted permits to sequester carbon dioxide at a Texas facility
1PointFive, a unit of Occidental Petroleum, announced on Monday that the U.S. Environmental Protection Agency approved its request to sequester CO2 captured at its direct air capture facility (DAC) in Texas. Stratos is a joint-venture between BlackRock, a global asset manager, and the carbon capture and storage unit of the U.S. shale company. Stratos, one of the largest DAC plants in the world, is expected to begin commercial operations by later this year. Oil companies like Chevron and TotalEnergies are adopting carbon capture…
Palm oil climbs as Chicago soyoil and crude oil prices firm up
The market for Malaysian palm oils futures rose on Wednesday, marking the fourth session in a row. This was due to gains in Chicago soyoil prices and energy. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 99 ringgit or 2.24% to 4,518 Ringgit ($1,015.05) per metric ton. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that the price of crude palm oil was higher following the Malaysian holidays, due to a rally on Chicago soyoil and energy prices. Bagani stated that U.S.
Palm oil rises as Chicago soyoil and crude oil prices strengthen
Malaysian palm futures were up for the fourth consecutive session on Wednesday, supported by gains in Chicago soyoil as well as energy. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for June delivery gained 119 Ringgit or 2.69% to 4,538 Ringgit ($1,020.46) per metric ton. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that the price of crude palm oil was higher following the Malaysian holidays, due to a rally on Chicago soyoil and energy prices. Bagani stated that U.S.
US EPA delays Midwest ethanol expansion South Dakota, Ohio
The U.S. Environmental Protection Agency announced on Friday that it will delay by one year the expansion of sales of higher ethanol blended gasoline in South Dakota, Ohio and the other eight Midwestern States who requested increased sales. The EPA released a statement on Friday following its decision made last week that it would implement the April 28 date set by eight Midwest Governors who requested year-round sale of gasoline containing 15 percent ethanol (also known as E15). States could request a one-year extension until February 26, 2018.
Oil trade group calls for national ethanol policy in the US after EPA approves Midwest expansion
The American Petroleum Institute, a trade group, pushed for a national policy on gasoline blends with higher ethanol levels on Monday after President Donald Trump’s administration announced on Friday that it would expand sales of this product in certain Midwestern States. The U.S. Environmental Protection Agency announced on February 21 that it would support an April 28th implementation date in response to a request by eight Midwest Governors for year-round sale of gasoline containing 15 percent ethanol (also known as E15).
Officials in Malaysia have announced that they will take action against fraud in the export of used cooking oil.
Malaysia's deputy commodities minister said that it would crack down on fraud within the used cooking oil sector, while western governments investigated whether the shipments of biofuels from Asia contained virgin oil. According to Deputy Plantation and Commodities Ministry Chan Foong Hin, the Malaysian Palm Oil Board is revising its policies and standards governing palm industry waste (SPO), also known as used cooking oil. This will help to distinguish between them and prevent discrepancies when exporting.
The EPA chief wants to recover $20 billion in climate funding
He said that the head of the U.S. Environmental Protection Agency wants to terminate contracts signed by the previous administration for the distribution of $20 billion in grant funds to fund clean energy projects and transportation in disadvantaged areas. In a message on X, EPA Administrator Lee Zeldin stated that he would ask the Inspector-General, Congress, and Justice Departments to work together with the agency in order to terminate the contracts with eight regional organizations who were named as financial agents…
US pressures EU to align LNG methane regulations
A letter obtained by showed that U.S. officials redoubled their efforts to convince EU counterparts that shipments of liquefied gas meeting current U.S. regulations on methane would automatically meet the new European standards for gas imports. On December 17, the administration of President Joe Biden sent a second email to Ditte J. Jorgensen (EU Director-General for Energy) to increase support for their case that US Environmental Protection Agency regulations should be considered "equivalents" to EU regulations whose reporting requirements for emissions begin in 2025.
Biogas credit slump tied to proposed waiver of supply mandates
Traders and market participants report that the prices for credits for cellulosic production of biofuels fell to their lowest level in more than a year after the U.S. Environmental Protection Agency proposed a partial exemption to its supply mandates by 2024. The proposal was submitted to the government for approval on Tuesday. It follows a petition filed by American Fuel & Petrochemicals Manufacturers, a lobby group for industry, on Nov. 1, arguing that EPA’s supply mandates were too high for this year. The EPA denied a similar petition from AFPM regarding last year's mandates.
Palm oil suffers heavy losses in Dalian competitors oils
The prices of vegetable oils rivals in Dalian have been falling heavily, which has led to a fall in the palm oil futures in Malaysia for a second consecutive session. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery had fallen 114 ringgit or 2.27% to 4,912 Ringgit ($1,103.57). Prices have dropped sharply below the 5,000-ringgit mark, which is exacerbated due to weakness in the Chinese vegetable oil market. This indicates a consolidation after the recent bull market from Sept. 18 through Nov. 11, said Darren Lim at Singapore-based Phillip Nova.
US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies implemented by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association, has urged the incoming Trump administration to remove vehicle emission standards designed to encourage the auto industry to make more electric vehicles.
US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies proposed by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association, has urged the incoming Trump administration to remove vehicle emission standards designed to encourage the auto industry to make more electric vehicles.
OPINION: Drowning in Oil, Regulatory Measures to Keep Prices Afloat
These days history seems to be in the making on a daily basis. On April 20, 2020, the price of the NYMEX West Texas Intermediate Sweet Crude Oil (WTI) futures contract for May delivery plunged into the negative, forcing sellers to actually pay customers for taking the crude oil off the sellers’ hands. The historic drop came a little over a month after Russia and Saudi Arabia initiated crude oil price war, and it has left many wondering if certain regulatory measures are needed to help boost oil prices in the United States.
U.S. Ingenuity Will Solve Climate Challenge: US DOE
The United States can tackle threats to the climate through technological advances as fossil fuels will remain a priority for the U.S. government and business, the assistant secretary for fossil energy said on Tuesday.The world should look to the United States' ability to reduce its emissions, the Department of Energy's Steven Winberg said at an oil conference in South Africa a day after the Trump administration formally moved to exit the Paris Agreement."We can solve any climate issue with technology development, one thing you see back in U.S.
Big Corn, Big Oil Unhappy with Fed's Biofuel Plan
Corn farmers, ethanol producers, refinery representatives, energy traders and state and local officials from the Midwest all blasted away at the Trump administration's proposed biofuels plan for next year during a public hearing on Wednesday hosted by the U.S. Environmental Protection Agency (EPA).The hearing in Ann Arbor, Michigan, marks the second public meeting on the topic in as many days, airing the grievances of the opposing oil and corn constituencies President Donald Trump…
Bids for Small Refinery Waivers Flood into EPA
The U.S. Environmental Protection Agency has received 37 applications for small refinery waivers for 2018 from the U.S.
ExxonMobil Boosts Ultra-low Sulfur Fuels Production
ExxonMobil said today that a new unit at its integrated Beaumont, Texas facility has started operations, increasing production of ultra-low sulfur fuels by about 45,000 barrels per day. The new unit relies on a proprietary catalyst system developed by ExxonMobil to remove sulfur and meet U.S. Environmental Protection Agency specifications while minimizing octane loss.The addition of the new unit is ExxonMobil’s second major investment in Beaumont in less than two years. In 2016, the company increased the capacity of an existing crude unit by 20…
EPA Scraps Plan to Force US Refiners to Blend More Biofuels
The U.S. Environmental Protection Agency ditched a detailed plan that would have forced refiners to blend more biofuels into their gasoline and diesel in 2019 to compensate for volumes likely to be exempted under the agency's small refinery hardship waiver program, according to newly released EPA documents.The plan would have boosted the renewable fuel blending obligation for the refining industry to 11.76 percent from 10.88 percent to offset volumes lost under the waiver program…
U.S. EPA Chief Pruitt Resigns
U.S. Environmental Protection Agency chief Scott Pruitt, who pleased President Donald Trump by rolling back environmental regulations but came under fire for travel and security expenses and a condo arrangement, has resigned, Trump said on Thursday. "I have accepted the resignation of Scott Pruitt as the Administrator of the Environmental Protection Agency," Trump said on Twitter. He said EPA Deputy Administrator Andrew Wheeler would become acting chief of the agency on Monday. Reporting by Eric Beech
