In Brazil, Reuters reports that a securities filing shows Shell and Cosan plan to raise $1.34 billion through Raizen’s IPO with a final price set for Aug. 3 for 810,811,000 shares, although it could increase by up to 35%. With shares expected between $1.44 and $1.87 which would result in a company valuation of between […]
In Georgia, Platts reports that Delta Air Lines said in a quarterly earnings call that the company refuses to spend cash willy nilly on a RIN marketplace that it sees as non-transparent. He confirmed that the company has accrued the RINs required for the Monroe Energy refinery in Trainer, Pennsylvania despite media reports to the […]
In the Philippines, Business World reports that new rules that will enhance reporting by oil companies regarding ethanol and biodiesel blending is seen by the USDA as an opportunity to get blending closer to the 10% mandate rather than the 8.5% average that has been the norm of late. Doing so will reduce gasoline consumption […]
In Washington, DTN reports Energy Information Administration data shows ethanol production fell 2.4% on the week to 1.041 million bpd while stocks dropped slightly to 21.134 million barrels. All regions saw draws on their stocks, except for the key Midwest producing region that saw stocks build, despite blending demand falling 3.5% to 916,000 bpd, the […]
In Spain, Repsol, Bilbobus, and Alsa have launched the first pilot project in Spain to use HVO. Over the next four months, 12 buses in the fleet of Bilbobus, the Bilbao city bus line, will run on advanced residue-based biofuels. The project will contribute to saving approximately 300 tons of CO2 emissions during the time of […]
In India, the Hindu newspaper reports researchers from ICAR-Central Tuber Crops Research Institute are looking at cassava as a potential ethanol feedstock as the country diversifies the crops it uses for ethanol to include more starches such as rice and cereals rather than just sugarcane-based. In the late 1990s, a cassava-based ethanol plant was set […]
In Connecticut and Rhode Island, governors from both states signed graduated approaches to tackling carbon emissions into law this week through mandates requiring increased use of biomass-based heating oil, also known as Bioheat fuel, over the next decade. A similar bill in New York awaits the governor’s signature, highlighting the growing momentum Bioheat fuel is […]
In Brazil, Bloomberg reports sources say Shell and Cosan are aiming for a $13.5 billion valuation of Raizen when the IPO is launched, with 10% of the company up for grabs for about $1.18 billion—although earlier reporting had the expected raise at closer to $2 billion. Pricing is expected to start in the next few […]
In Belgium, the European Commission’s new Fit for 55 package sets important new goals for emissions reduction and creates a solid foundation for reaching them by giving a role to renewable liquid fuels in decarbonizing transport. Unleashing the true potential of crop-based ethanol and creating a policy environment that can spark investment in advanced ethanol […]
In Washington state, Boeing, SkyNRG and SkyNRG Americas announced a partnership focused on scaling the availability and use of sustainable aviation fuels (SAF) globally. Boeing will also invest in SkyNRG Americas’ SAF production project, for which Alaska Airlines is a previously announced partner. Boeing, SkyNRG and SkyNRG Americas will work together to accelerate SAF development […]
