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[sarkasm] 26/6/2018 06:51

France's largest oil company mulled asking EPA for a 'hardship' waiver
by John Siciliano
| June 25, 2018 09:18 PM


The fourth-largest oil company in the world contemplated asking the Environmental Protection Agency for a "hardship" waiver exempting it from having to blend ethanol into the U.S. gasoline supply, according to a top company official.

Patrick Pouyanne, CEO of French energy giant Total, told reporters on the sidelines of the World Gas Conference in Washington that he sent an email to company lawyers asking, “Why don’t you apply for an exemption?”

The answer he got was “No. Our refinery is too big,” Pouyanne said.


The global oil and natural gas company owns a refinery in Texas, which Pouyanne said has been affected by the high prices of Renewable Identification Number credits, or RINs, which refiners must buy to comply with EPA’s biofuel mandate called the Renewable Fuel Standard.

EPA Administrator Scott Pruitt has come under attack by ethanol supporters for quietly exempting over two dozen oil refineries from having to pay millions of dollars to purchase the credits.

Some of the companies that were granted waivers included very large refinery companies like Andeavor. Large oil companies Exxon and Chevron have also asked for waivers. Many of the companies being granted the waivers do not meet the 75,000 barrel-per-day standard under the program to receive a "hardship" waiver, say critics of EPA's refinery waiver program under Pruitt. The ethanol industry, biofuel groups, and farmers are suing EPA over what they argue is the illegal use of its authority.

Nevertheless, the waivers that EPA has issued have had a “positive impact” by lowering the RIN prices for all refiners, even those like Total that did not apply for a waiver, Pouyanne said.

The French CEO is no fan of ethanol, renewable fuels, and EPA’s Renewable Fuel Standard.

Pouyanne said the U.S. renewable fuel program was “a mistake done by the Congress some years ago.” He said Congress erred by basing the standard on reaching “some volumes as an absolute number and not as a percentage.” The current target is 36 billion gallons by 2022, instead of setting it as 10 percent of the nation's fuel market, for example.

He said Europe’s renewable fuel program was based on enacting a percentage.

“The decision was much smarter, for once,” Pouyanne added. “It was enacted as a percentage of the fuel you put into the market.”

In the U.S., there was “not enough volumes put into the market, and so we see the certificates going from 20 cents to 80 cents and refiners suffered,” he explained.

It's also not great when considering climate change and the need to cut carbon dioxide emissions from fossil fuels, which are blamed for raising the Earth's temperature.

“To be honest with you, we don’t consider biofuels the best policy,” he added. “Biofuels are not the best way to eliminate CO2 emissions. It’s not possible.”



WASHINGTONEXAMINER

[waldron] 25/6/2018 17:36

Total
51.67 -1.54%

Engie
13.025 -1.59%

Orange
14.425 -0.48%

FTSE 100
7,509.84 -2.24%
Dow Jones
24,167.59 -1.68%
CAC 40
5,283.86 -1.92%

Brent Crude Oil NYMEX 74.22 -1.97%
Gasoline NYMEX 2.03 -1.21%
Natural Gas NYMEX 2.92 -0.82%


BP
557 -3.40%


Shell A
2,539.5 -2.66%


Shell B
2,624 -3.08%

[waldron] 25/6/2018 17:36

Total
51.67 -1.54%

Engie
13.025 -1.59%

Orange
14.425 -0.48%

[waldron] 25/6/2018 09:37

Total
52.21 -0.51%

Engie
13.155 -0.60%

Orange
14.51 +0.10%


FTSE 100
7,619.46 -0.82%
Dow Jones
24,580.89 +0.49%
CAC 40
5,346.84 -0.75%


Brent Crude Oil NYMEX 75.00 -0.94%
Gasoline NYMEX 2.04 -0.64%
Natural Gas NYMEX 2.91 -1.19%



BP
566.9 -1.68%

Shell A
2,590.5 -0.71%


Shell B
2,690.5 -0.63%

COULD IT BE DOWN TO

TRUMPS TWETTER TARIFS TANTRUM

[waldron] 22/6/2018 17:24

Total
52.48 +3.31%

Engie
13.235 +0.65%

Orange
14.495 +1.68%

FTSE 100
7,682.27 +1.67%
Dow Jones
24,630.78 +0.69%
CAC 40
5,387.38 +1.34%

Brent Crude Oil NYMEX 74.86 +2.45%
Gasoline NYMEX 2.04 +2.13%
Natural Gas NYMEX 2.93 -1.38%

BP
576.6 +3.06

Shell A
2,609 +3.39%


Shell B
2,707.5 +3.46%

THE WEEK ENDS ON A POSITIVE NOTE

I guess a cheap buy in is now off the table


HAVE GREAT WEEKEND

SUNNY HERE BUT A VERY CHILLY WIND DOETH BLOW

[waldron] 21/6/2018 17:14

Total
50.8 -0.88%

Engie
13.15 -0.75%

Orange
14.255 -0.73%


FTSE 100
7,556.44 -0.93%
Dow Jones
24,478.93 -0.73%
CAC 40
5,316.01 -1.05%


Brent Crude Oil NYMEX 73.60 -0.82%
Gasoline NYMEX 2.00 -0.39%
Natural Gas NYMEX 2.97 +0.27%


BP
559.5 -0.87%

Shell A
2,523.5 -0.59%


Shell B
2,617 -1.06%

[waldron] 20/6/2018 17:41

Total
51.25 -1.04%


Engie
13.25 +0.38%

Orange
14.36 -0.62%


FTSE 100
7,627.4 +0.31%
Dow Jones
24,685.13 -0.06%
CAC 40
5,372.31 -0.34%


Brent Crude Oil NYMEX 74.33 -0.92%
Gasoline NYMEX 2.00 -1.19%
Natural Gas NYMEX 2.96 +1.37%


BP
564.4 -1.10%



Shell A
2,538.5 -0.90%


Shell B
2,645 -0.64%

[waldron] 19/6/2018 17:04

Total
51.79 -0.84%

Engie
13.2 -0.38%

Orange
14.45 -0.31%


FTSE 100
7,603.85 -0.36%
Dow Jones
24,686.88 -1.20%
CAC 40
5,390.63 -1.10%



Brent Crude Oil NYMEX 74.92 -0.58%
Gasoline NYMEX 2.03 -0.64%
Natural Gas NYMEX 2.90 -1.86%



BP
570.7 -0.19%

Shell A
2,561.5 +0.10%


Shell B
2,662 +0.09%

[waldron] 18/6/2018 17:16

Total
52.23 -0.23%

Engie
13.25 -4.81%

Orange
14.495 -0.96%

FTSE 100
7,631.33 -0.03%
Dow Jones
24,917.64 -0.69%
CAC 40
5,450.48 -0.93%


Brent Crude Oil NYMEX 74.40 +1.82%
Gasoline NYMEX 2.04 +1.24%
Natural Gas NYMEX 2.96 -2.21%


BP
571.8 +1.20%

Shell A
2,559 +1.49

Shell B
2,659.5 +1.29%

[waldron] 15/6/2018 17:10

Total
52.35 -0.96%

Engie
13.92 +0.18%

Orange
14.635 -0.03%

FTSE 100
7,633.91 -1.70%
Dow Jones
24,928.5 -0.98%
CAC 40
5,501.88 -0.48%


Brent Crude Oil NYMEX 73.36 -3.46%
Gasoline NYMEX 2.03 -3.02%
Natural Gas NYMEX 3.02 +1.85%


BP
565 -3.50%



Shell A
2,521.5 -3.30%


Shell B
2,625.5 -3.14%

NEXT WEEK AN IMPORTANT PIVOT WEEK ME THINKS

[waldron] 14/6/2018 17:22

Total
52.86 +1.52%

Engie
13.895 +2.43%

Orange
14.64 +0.79%

FTSE 100
7,765.79 +0.81%
Dow Jones
25,197.56 -0.01%
CAC 40
5,528.46 +1.39%


Brent Crude Oil NYMEX 76.06 -0.63%
Gasoline NYMEX 2.10 -1.11%
Natural Gas NYMEX 2.96 +0.00%


BP
585.5 +2.13%

Shell A
2,607.5 +1.56%


Shell B
2,710.5 +1.33%

WHATA DIFFERENCE HALF A DAY DOTH MAKE

[waldron] 13/6/2018 17:13

Total
52.07 -0.48%

Engie
13.565 -0.84%

Orange
14.525 -1.29%


FTSE 100
7,703.71 +0.00%
Dow Jones
25,334.85 +0.06%
CAC 40
5,452.73 -0.01%

Brent Crude Oil NYMEX 76.35 +1.18%
Gasoline NYMEX 2.12 +1.83%
Natural Gas NYMEX 2.97 +0.85%


BP
573.3 -0.90%


Shell A
2,567.5 -1.10%


Shell B
2,675 -0.93%

[waldron] 12/6/2018 16:53

Total
52.21 -1.08%

Engie
13.675 +0.37%

Orange
14.745 -0.41%

FTSE 100
7,703.81 -0.43%
Dow Jones
25,318.93 -0.01%
CAC 40
5,453.37 -0.38%

Brent Crude Oil NYMEX 76.42 +0.03%
Gasoline NYMEX 2.10 -0.07%
Natural Gas NYMEX 2.92 -1.08%



BP
578.5 -1.38%


Shell A
2,596 -1.35%


Shell B
2,700 -1.01%

[waldron] 11/6/2018 17:40

Total
52.78 -0.60%$$$$

Engie
13.625 +0.93%

Orange
14.805 +0.89%

$$$$ TOTAL GONE EX DIVI TODAY


FTSE 100
7,737.43 +0.73%
Dow Jones
25,374.09 +0.23%
CAC 40
5,473.91 +0.43%


Brent Crude Oil NYMEX 76.37 -0.03%
Gasoline NYMEX 2.11 -0.25%
Natural Gas NYMEX 2.94 +1.20%

BP
586.6 +0.48%

Shell A
2,631.5 +0.96%

Shell B
2,727.5 +1.02%

[maywillow] 11/6/2018 13:09

PARIS (Aged-Dow Jones) - Total (FP.FR) announced Monday the signature of a new 25-year concession agreement with the Algerian authorities to continue operating the Tin Fouyé Tabankort gas and condensate field. (TFT), its main production site in the country.


This new contract, which will enter into force upon approval by the competent Algerian authorities, will give Total 26.4% interest in the field, alongside Sonatrach, the national oil company (51%), and Spanish Repsol (22.6%), said the group in a statement. "The partners pledge to make the drilling and development investments needed to value the additional reserves estimated at more than 250 million barrels of oil equivalent, which will help maintain the production of the field, which currently amounts to more than 80,000 barrels of oil equivalent per day for 6 years, "added Total, which also signed a gas product marketing agreement.


In 2017, the group produced 15,000 barrels of oil equivalent per day in Algeria, which came entirely from the TFT gas and condensate field. His participation in the field so far amounted to 35%.


-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; [e-mail] ed: ECH


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires

[waldron] 11/6/2018 09:38

Total
52.72 -0.72%

Engie
13.54 +0.30%

Orange
14.76 +0.58%

FTSE 100
7,721.46 +0.53%
Dow Jones
25,316.53 +0.30%
CAC 40
5,467.77 +0.32%


Brent Crude Oil NYMEX 76.39 +0.00%
Gasoline NYMEX 2.11 -0.19%
Natural Gas NYMEX 2.95 +1.38%




BP
585.1 +0.22%

Shell A
2,613.5 +0.27%

Shell B
2,704.5 +0.17%

[waldron] 08/6/2018 17:03

Total
53.1 -0.52%

Engie
13.5 -1.17%

Orange
14.675 +0.03%

FTSE 100
7,681.07 -0.30%
Dow Jones
25,234.86 -0.03%
CAC 40
5,450.22 +0.03%


Brent Crude Oil NYMEX 76.49 -1.10%
Gasoline NYMEX 2.11 -0.38%
Natural Gas NYMEX 2.89 -1.67%



BP
583.8 -0.98%

Shell A
2,606.5 -0.55%

Shell B
2,700 +0.06%