VOPAK KEEPS 2011 OUTLOOK AS H1 EBIT SLIPS
AMSTERDAM, Aug 24 (Reuters) - Vopak , the world's largest independent storage tank operator, said it was seeing strong demand for its oil and chemical storage services as it stuck to its previously lowered 2011 outlook on Wednesday.
Vopak which offers oil, chemical and biofuel storage in major ports including Rotterdam, Fujairah, Tallinn and Singapore, said it was seeing robust demand for oil storage services, while demand for chemical storage services was strong in Asia, stable in the Americas and encouraging in Europe.
BRAZIL MILLS FOCUS ON SUGAR AS CRUSH SLACKENS
SAO PAULO, Aug 23 (Reuters) - Brazil's cane mills will produce more sugar and less ethanol from what cane they have left to harvest through the end of the season due to better profits from the sweetener, analysts told Reuters.
The industry which produces sugar and ethanol biofuel from sugar cane has slashed its outlook for the cane harvest. Reduced cane output has limited the supply of both products and supported sugar prices which are hovering near 30-year highs.
US OFFERS ABENGOA $134 MLN LOAN AID FOR CELLULOSIC
WASHINGTON, Aug 19 (Reuters) - The U.S. Energy Department said on Friday it has offered a conditional commitment for $133.9 million in loan aid to Abengoa Bioenergy for a cellulosic ethanol plant in Kansas.
The Abengoa project is expected to convert about 300,000 tons of corn crop waste into about 23 million gallons (105 million litres) of ethanol per year.
BUNGE $2.5 BLN BRAZIL INVESTMENT TO RAISE CRUSH
SAO PAULO, Aug 18 (Reuters) - Bunge will invest $2.5 billion to boost its sugar and bioenergy capacity in Brazil through 2016, the company said in a statement on Thursday.
The investments will go into eight of the group's mills and will expand crushing capacity by 50 percent from present levels to 30 million tonnes a year of cane.
INEOS BIOMASS PLANT GETS $75 MLN US LOAN GUARANTEE
WASHINGTON, Aug 18 (Reuters) - A Florida plant that would produce biofuels from yard trash and citrus rinds has received a $75 million loan guarantee from the U.S. government.
INEOS New Plant Energy LLC plans to produce 8 million gallons a year of advanced biofuel at the plant in Vero Beach on Florida's Atlantic coast. It was among four projects tentatively identified early this year for construction support.
BIOMASS KEY FOR LOW-CARBON ENERGY, SPURS FOOD PRICES
LONDON, Aug 18 (Reuters) - Greater use of woody fuels is vital to slash global carbon emissions but fast advances in crop yields will be needed to avoid driving up food prices, members of Germany's Potsdam Institute for Climate Impact Research found.
Biofuels are already widely used in the United States, Europe and Brazil to substitute for gasoline and diesel, but are made from crops including sugar, oilseeds and corn which has driven concerns they are stoking food prices.
PETROBRAS, SAO MARTINHO TO EXPAND ETHANOL OUTPUT
SAO PAULO, Aug 17 (Reuters) - Brazil's state oil company Petrobras and sugar and ethanol group Sao Martinho announced on Wednesday a 520.7-million-real ($328 million) investment that will quadruple ethanol output at their joint Boa Vista mill.
The expansion of crushing capacity in Brazil's cane sector that this investment represents has been a rare occurrence in the past few years, as bigger mills focus their resources on buying distressed rivals rather than new projects.
US ETHANOL PRODUCTION DROPS, SNAPS FOUR-WEEK RISE
KANSAS CITY, Mo., Aug 17 (Reuters) - U.S. ethanol production slipped in the last week as profit margins narrowed and domestic demand waned, snapping a four-week rise in output.
The Energy Information Administration said on Wednesday that U.S. ethanol production totaled 899,000 barrels per day, down about 1 percent from 908,000 barrels per day (bpd) the previous week. The weekly production of 6.293 million barrels is still the third-highest weekly output level over the last two months.
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