BRAZIL CANE CRUSH GAINS ON LAST SEASON, OUTLOOK DIM
BRASILIA, July 26 (Reuters) - Crushing of cane in Brazil and production of sugar and ethanol made from it are catching up with the 2010 season, data from cane industry association Unica showed on Tuesday, but the crop may soon run out of puff.
The crush totaled 217.4 million tonnes from the start of the season through July 16. That was 15 percent less than by the same time last season but the gap had narrowed from a lag of 18 percent at the start of July.
U.S. CELLULOSIC ETHANOL INDUSTRY STRUGGLES TO TAKE OFF
WASHINGTON, July 25 (Reuters) - The great promise of a car fuel made from cheap, clean-burning prairie grass or wood chips -- and not from expensive corn that feeds the world -- is more mirage than reality.
Despite years of research, testing and some hype, the next-generation ethanol industry is far from the commercial success envisioned by President George W. Bush in 2006, when he pledged so-called cellulosic biofuels would be "practical and competitive" by 2012.
US ETHANOL PRODUCTION CLIMBS MODESTLY, STOCKS GAIN
CHICAGO, July 20 (Reuters) - U.S. ethanol production posted a modest gain in the latest reporting week, rebounding from more than a two-month low during the previous period, the Energy Information Administration said in its weekly petroleum report on Wednesday.
Ethanol output rose to 873,000 barrels per day (bpd) for the week ended July 15, which was up 1,000 bpd from the previous week and 4.4 percent higher than the 836,000 bpd produced in the same week last year, EIA said.
IDLE GERMAN BIODIESEL PLANT RESTARTS UNDER NEW OWNERS
HAMBURG, July 22 (Reuters) - The German biodiesel plant previously operated by insolvent green fuels producer EOP Biodiesel AG will restart production on Monday, its new owners said on Friday.
The company German Biofuels GmbH in March bought EOP's 132,000 tonnes annual capacity biodiesel plant in Pritzwalk in eastern Germany which has been idle since October 2010.
COPERSUCAR DELAYS BRAZIL IPO AS CONDITIONS WORSEN
SAO PAULO, July 19 (Reuters) - Copersucar, Brazil's largest sugar and ethanol trader, on Tuesday delayed a plan to sell shares for the first time, a source told Reuters, signaling that debt woes abroad are spoiling appetite for equity offerings in Latin America's biggest economy.
The source, who has knowledge of the situation but declined to be identified because the transaction is still in the works, did not specify when the initial public offering plans would be resumed. Under Brazilian law, companies can resume IPO plans within 60 days if basic terms of the deals are not modified.
CATHAY INDUSTRIAL BIOTECH FILES FOR IPO OF UP TO $200 MLN
July 19 (Reuters) - China's Cathay Industrial Biotech Ltd filed with U.S. regulators on Tuesday to raise up to $200 million in an initial public offering of American Depositary Shares.
In a filing with the U.S. Securities and Exchange Commission, the company said Morgan Stanley, Deutsche Bank Securities and Jefferies would be underwriting the offering.
EU GETS TOUGH ON DIRTY BIOFUEL, PLEDGES MORE ACTION
BRUSSELS, July 19 (Reuters) - Europe's energy chief announced seven green certification schemes for biofuels on Tuesday and promised in future to tackle the unwanted side-effects of turning food into fuel.
Guenther Oettinger said biofuels' indirect impacts were dangerous for the planet's carbon balance and food supply.
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