Montauk Renewables, Inc. Signs Agreement to Sell RNG for European Market Use
PITTSBURGH, May 06, 2021 (GLOBE NEWSWIRE) Montauk Renewables, Inc. (NASDAQ: MNTK) announced that it has signed an agreement to sell a portion of its Renewable Natural Gas (“RNG”) production as a feedstock to make fuel for the European market.
Beginning July 2021, the Company will sell approximately 900,000 MMBtu annually of is production, currently monetized under an expiring domestic floor-price agreement, to Iogen RC Fuels, LP (“Iogen”) under a new 4.5 year fixed-price agreement to make vehicle fuel to serve the European market.
Montauk’s ability to enter into this Agreement was due to being selected through an October 2020 RFP award for a portion of its RNG production based on then current pricing of RNG and attribute model trends at the time of bid. The award was contingent on registration of proposed production facilities under the International Sustainability & Carbon Certification (“I
Crypto was higher on the day (as was the dollar and commodities) but for big-tech stocks, bonds, and bullion it was sell, Mortimer, sell .
The cash open sparked chaos in Small Caps and a dump in big-tech stocks. Small Caps were puked after the European close. S&P and the Dow manage to scramble back into the green (dumping into the red in the last 5 seconds), Small Caps were best and Big-Tech Nasdaq 100 the biggest loser.
Here s the chaos at the cash open in Small Caps.
Days after Apple announced plans to launch its first subscription podcasting platform, Spotify - after making a splash last year when it recruited Joe Rogan, Kim Kardashian and a handful of other big name stars to its podcasting platform - is planning a similar paid platform that will charge creators a much smaller slice of revenues.
Matt Lucey
Regarding Oil industry games in the Delaware Valley are played out, April 8:
Jan Koninckx’s recent missive in The News Journal that criticized PBF Energy’s stance on the federal Renewable Fuel Standard or RFS was a misrepresentation of a broken federal program that threatens the viability of America’s refining sector. If the RFS’ flaws are not addressed, American energy security and good-paying refinery jobs will continue to be at risk, including thousands of jobs in Delaware.
At its core, the RFS is currently a $25 billion stealth tax that two parties pay you the consumer and merchant refiners like PBF Energy. Instead of going to the government to fund infrastructure, the proceeds subsidize large, integrated oil companies and large retailers for simply engaging in their core, profitable businesses.
February freeze to hit refiners’ earnings as investors look to demand
Refiners are expected to report big first-quarter losses after February’s winter storm froze activity along the Gulf Coast, but as more Americans are vaccinated against COVID-19, analysts expect the industry’s outlook to brighten as demand rebounds.
Seven independent U.S. refiners are projected to post an average earnings-per-share loss of $1.32, versus a loss of $1.77 in the fourth quarter of 2020, according to IBES data from Refinitiv.
The culprit? February’s severe storm that knocked out power for millions and took numerous refiners offline for weeks.
However, analysts will be listening to the companies’ forward outlooks, expecting demand to rebound as most U.S. states rapidly rolled out vaccination programs in the quarter. U.S. fuel demand has rebounded in recent weeks, with overall interstate miles traveled in the last week of March just 2% below 2019 levels, the U.S. Department of Transportation
February freeze to hit refiners earnings as investors look to demand
04/21/2021 | 01:25am EDT
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(Reuters) - Refiners are expected to report big first-quarter losses after February s winter storm froze activity along the Gulf Coast, but as more Americans are vaccinated against COVID-19, analysts expect the industry s outlook to brighten as demand rebounds.
Seven independent U.S. refiners are projected to post an average earnings-per-share loss of $1.32, versus a loss of $1.77 in the fourth quarter of 2020, according to IBES data from Refinitiv.
The culprit? February s severe storm that knocked out power for millions and took numerous refiners offline for weeks.