http://www.planetark.org/dailynewsstory.cfm/newsid/20904/story.htm
Total sees steady rise in world demand for diesel BELGIUM: May 23, 2003 BRUSSELS - The world's thirst for diesel is increasing by more than two percent a year, while demand for heavy fuel oil is dropping by almost one percent, a senior official from French oil giant Total (TOTF.PA) said. Jean-Jacques Mosconi, senior vice-president for strategy and development, said environmental policies promoting diesel in cars in the European Union were pushing up demand which would increase worldwide by 2.2 percent per year at least until 2010. An increase in the use of natural gas in power stations was one factor depressing heavy fuel oil demand, he said, forecasting a 0.8 percent annual decrease in demand. But the executive from Europe's top refiner added that markets for fuel oil outside Europe remained relatively strong, maintaining prices at levels which would prevent a rush to build costly units to refine it further into lighter oil products. "There are still many open markets in the world. You can still find outlets and these markets are not an incentive to you to invest in conversion projects," he told a conference hosted by Hart World Fuels. Total itself is opting for such technology. It announced last month it would invest 500 million euros ($585 million) in a hydrocracker at its Gonfreville refinery in Normandy to convert heavy fuel oil into products like diesel, jet fuel and heating oil. Mosconi said he expected Russia, an important source of heavy crude oil, to invest more in upstream technologies rather than refining crude into diesel, which has to meet increasingly demanding EU environmental standards. REUTERS NEWS SERVICE ------------------------ Yahoo! Groups Sponsor ---------------------~--> Get A Free Psychic Reading! Your Online Answer To Life's Important Questions. http://us.click.yahoo.com/Lj3uPC/Me7FAA/CNxFAA/9bTolB/TM ---------------------------------------------------------------------~-> Biofuels at Journey to Forever http://journeytoforever.org/biofuel.html Biofuel at WebConX http://webconx.green-trust.org/2000/biofuel/biofuel.htm List messages are archived at the Info-Archive at NNYTech: http://archive.nnytech.net/ To unsubscribe from this group, send an email to: [EMAIL PROTECTED] Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
