Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels & Petrochemicals.
BP mulls buying some of BHP's US shale assets
British oil major BP has reportedly enlisted Morgan Stanley to advise it on a potential offer to acquire some of BHP Billiton's US shale assets. BP is exploring options including partnering with other interested parties to submit a joint offer or an asset swap.
Enterprise Products, ETP team up on Permian gas pipeline projects
Enterprise Products Partners and Energy Transfer Partners unveiled plans to reopen the idled Old Ocean natural gas pipeline connecting North Texas to Brazoria County on the Texas coast in the second quarter, as well as expand their jointly owned North Texas pipeline by the fourth quarter. "Bringing the Old Ocean pipeline back into service will help meet the immediate demand for takeaway capacity from the growing Delaware Basin and Midland Basin," said Enterprise Products Director and CEO Jim Teague.
Technology, higher oil prices make Bakken drilling more lucrative
Tech advancements and strong crude prices have helped bring down break-even costs on top-quartile wells in North Dakota's Bakken Shale to a range of $41 to $50 per barrel, according to a Bloomberg New Energy Finance report. BNEF analyst Jacob Fericy expects all average Bakken wells to be profitable as long as US crude prices stay above $63 per barrel, although persistent infrastructure constraints could hinder production growth.
Energy producers turn to drones, robots to cut costs, boost safety
Oil majors, including BP and Statoil, are increasingly using smart devices, such as drones and robotic crawlers, to conduct offshore inspections, which can help operators improve safety and slash costs while halving inspection time and reducing the need for shutdowns. BP, which is using a magnetic crawler dubbed Maggie at its Thunder Horse oil platform in the Gulf of Mexico, says its objective is "to remove individuals from being in unsafe environments."
N.Y. governor seeks to ban drilling in state waters
New York Gov. Andrew Cuomo on Friday unveiled legislation that would bar offshore drilling within three miles of the state's coastline, ban drilling-connected infrastructure on state land and restrict the transportation of oil produced from offshore operations in the North Atlantic.
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