UPM Biofuels was chosen as the Bioenergy Industry Leader at the 2017 Platts Global Energy Awards - often described as the Oscars of the energy industry. The competition was arranged by S&P Global Platts, the leading independent provider of market information and benchmark prices for commodities in the energy sector. UPM Biofuels was nominated for its wood-based low emission advanced UPM BioVerno biofuels, and its one-of-a-kind commercial scale biorefinery in Lappeenranta, Finland. The choice was made among energy companies from nearly 30 countries representing four continents, including some of the world's leading energy giants. Click Read More below for additional information.

Futures were little changed in New York, down 3.2 percent for the week. U.S. production had the biggest weekly advance since June, according to Energy Information Administration data on Wednesday, offsetting the largest decline in stockpiles in almost a year. Oil processing in China fell in July, the biggest decline for that particular month in three years, figures from the National Bureau of Statistics showed Monday. “Prices were unimpressed by the reported significant drop in oil inventories,” said Norbert Ruecker, head of commodities research at Julius Baer Group Ltd. in Zurich. “Instead, the market’s focus was possibly on robust U.S. output growth or the fact that the driving season and seasonal demand strength are set to ebb over the coming weeks.” U.S. crude output rose by 79,000 barrels a day to 9.5 million a day last week, the highest since July 2015, the Energy Information Administration reported Wednesday. Stockpiles declined for a seventh week to 466.5 million barrels. Click Read More below for additional detail.

Hats off to the drivers who get it done for the business every day. We especially want to acknowledge and honor the 105 drivers at MIDLAND. We could not be successful without your commitment to the work that you do. Thanks very much!