Fuel Oil News

Fuel Oil News February 2016

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FUELS EIA N E W S 16 FEBRUARY 2016 | FUEL OIL NEWS | www.fueloilnews.com KOLMAR AMERICAS, INC. ANNOUNCES ACQUISITION OF BIODIESEL PLANT K o l m a r A m e r i c a s , I n c . , a n i n t e - grated petroleum, petrochemicals, and renewable fuels marketing and trading company headquartered in Bridgeport, Conn., has announced its acquisition of a biodiesel production facility, recently renamed American GreenFuels, LLC, which is located in New Haven, Connecticut. F o r m e r l y k n o w n a s G r e e n l e a f B i o f u e l s , L L C , t h e b i o d i e s e l p l a n t , which is the largest operation of its type in New England, operates from within New Haven Terminal at New Haven harbor and has been steadily increas- ing production in each of the last three y e a r s — a n d i s f o r e c a s t t o p r o d u c e approximately 15 million gallons of bio- diesel in 2016. According to Raf Aviner, president of Kolmar Americas, Inc., "This is a very important acquisition for Kolmar. It is the first such acqui- sition in the company's history, and it shows the deep commitment Kolmar has to Connecticut, the environment, the biodiesel industry in general and to the employees at the plant, in particular. Kolmar has had a strategic relation- ship with the biodiesel plant for several years, and bringing this facility and its employees into the Kolmar family is a good development for all stakeholders." American GreenFuels is a wholly owned subsidiary of Kolmar Americas, Inc, employing more than 30 people in New Haven, Connecticut—with an active goal to expand its production capabilities. American GreenFuels pro- duces biodiesel from used cooking oil and other waste greases sourced from within Connecticut, and throughout the northeast U. S. The finished biodiesel is consumed primarily by companies selling diesel fuel and by Connecticut homeowners after blending with con- ventional heating oil. CLEAN HARBORS HIKES FEES FOR SAFETY-KLEEN CUSTOMERS C l e a n H a r b o r s , I n c . , a p r o v i d e r o f environmental, energy and industrial services throughout North America, announced that its Safety-Kleen sub- sidiary again is revising pricing related to managing used engine and industrial oils. Effective immediately, Safety-Kleen Environmental will be targeting an increase of $80 per stop with all custom- ers across its used oil customer base. Kevin Hayden, executive eice pres- ident, Safety-Kleen Environmental, said, "We are again taking the neces- sary steps to address the continuing rapid decline in crude oil indices and base oil pricing. These adverse energy market dynamics are decreasing the values of our re-refined products and byproducts, as well as our recycled fuel oil (RFO). This increase, which we will now be implementing in both the U.S. and Canada, is needed for Safety-Kleen to maintain the safe, reliable and qual- ity oil collection service we provide to more than 200,000 customers. "Due to market conditions, our re-refining business has been under significant margin pressure for the p a s t t h r e e y e a r s . W e a r e c o m m i t - ted to returning profitability in the Safety-Kleen segment to levels closer to historical norms. The actions we are announcing today are necessary to avoid further deterioration in our existing spread and an important step toward achieving stabilization in this business," Hayden concluded. Prices for Oil and Natural Gas Commodities Fell During 2015 The energy component of the wide- ly followed S&P Goldman Sachs Commodity Index (GSCI) fell 41% from the start of 2015, a larger decline than the industrial met- als, grains, and precious metals components, which declined 24%, 19%, and 11%, respectively, in Principal contributor: Rebecca George Source: Bloomberg L.P. Components of the S&P Goldman Sachs Commodity Index (2015) percent change since first trading day of the year 20 10 0 -10 -20 -30 -40 -50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Precious Metals, 11% Grains, -19% Industrial Metals, -24% Energy, -41%

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