Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels and Petrochemicals!
Shale gas makes Ohio Valley very attractive, says exec
Appalachia's Ohio Valley subregion has ample shale gas reserves and is a very attractive place for materials companies to invest, said Shale Crescent USA executive Greg Kozera last week. Shell Chemical is building a project in the area, and PTT Global Chemical and Daelim Industrial are considering one.
Honeywell exec: refineries should shift focus from fuel to chemicals
Refineries should consider increasing their focus on petrochemicals to respond to shifting demand and regulatory restrictions on high-sulfur fuel, says Carrie Eppelheimer, vice president of strategy and marketing for Honeywell UOP. "Get the maximum value out of every drop of crude oil, and respond to market drivers," she said.
Norden starts on second biofuel testing
Norden has launched a second biofuel trial on Nord Sustainable, a large ocean-going tanker powered by CO2-neutral biofuel.
US oil sees largest gain of the year amid US-Iran tensions
US oil prices posted their best performance since December 2016, with West Texas Intermediate for August delivery surging 9.4% last week to settle at $57.43 per barrel on Friday, after President Donald Trump canceled a military strike on Iran. Daniel Yergin, vice-chairman at IHS Markit, says that "the market is poised between where it was before, which was just gloom," and "the possibility that demand will spike up because there will be some kind of settlement with China."
ICE to launch LNG contract connecting US to Europe, Asia
Intercontinental Exchange's ICE Futures Europe will launch a new liquid natural gas futures contact July 29 that will reference US Gulf Coast LNG Platts pricing. ICE managing director of utilities markets Gordon Bennett says the Gulf Coast LNG 1st Line Financial Futures contract will "allow customers to trade spreads and connect the US Gulf Coast to the two main demand centres of Europe and Asia."
US drilling activity slows again
US oil and natural gas drillers idled two rigs last week, bringing the total of active rigs to 967, according to Baker Hughes. The Texas rig count declined by four to 463, the lowest level since January 2018, even as total oil production in the state has reached a record 5 million barrels per day.
Measure banning US offshore drilling for a year clears House
On Thursday, the House of Representatives approved a set of amendments to the Interior Department's spending bill that would prohibit offshore drilling in most coastal waters for a year as well as block seismic testing for oil and gas exploration. The bill will now be considered by the Senate.
Measure targeting Everglades oil project wins House approval
The US House of Representatives has approved a measure that could prevent Kanter Real Estate from drilling an oil-exploration well at a Florida Everglades site. The bill, which will go to the Senate, would impose a one-year moratorium starting Oct. 1 on wetland permits issued by the Army Corps of Engineers in the Everglades' Broward County.
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