February 25, 2013

Biofuel News Roundup

Yes, I am still working on posting earnings news...sigh. I hate reporting earnings...

BioFuel Energy lay-offs
US ethanol producer BioFuel Energy has reduced staffing at its Fairmont, Minnesota, ethanol facility resulting in the elimination of 40 full-time positions. The plant ceased ethanol production in September 2012, and will continue to operate its adjacent grain storage facility with its remaining employees. The Fairmont plant is expected to remain idle until this year's harvest season.

Lignol ups stake in Aussie biofuels
Lignol Energy Corp. has increased its stake in Australian Renewable Fuels Limited making Lignol one of its largest shareholders. Upon completion of transactions, Lignol expects to hold a total of 744,660,715 ordinary shares of Australian Renewable Fuels, or approximately 17.75% of the company.

US ethanol 2012 prices down vs 2011
Spot prices for US fuel ethanol were lower throughout most of 2012 compared to 2011, according to a report by the US Energy Information Administration (EIA). Prices were relatively stable during the first half of 2012 but they rose at mid-year as severe drought and scorching temperatures reduced corn yields resulting in higher prices for corn. Ethanol spot prices rose from a low of around $2/gal in mid-June to a 2012 peak of $2.61 in late July. That was still 30 cents/gal lower than the peak spot price at the same time in 2011.

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