Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels & Petrochemicals.
US, Canada reach agreement to replace NAFTA
Trade negotiators for Canada and the US agreed on terms for a revised North American Free Trade Agreement, now called the United States-Mexico-Canada Agreement, just ahead of a midnight deadline. The compromise protects Canada from tariffs on autos exported to the US while granting the US access to Canada's dairy market.
EIA: US gas exports more than double in first half of 2018
On average, US net natural gas exports were 0.87 billion cubic feet per day in the first six months of 2018, more than twice the average 0.34 billion cubic feet per day during all of 2017, the Energy Information Administration reports. The increase was largely driven by new facilities for liquefied natural gas, with exports of the fuel rising 58% from the first half of 2017 to average 2.72 billion cubic feet per day.
Husky Energy bids $5B to buy MEG Energy
An unsolicited offer by Husky Energy to buy competitor MEG Energy for $5 billion is under consideration by MEG's board of directors. If the two rival Canadian companies were to combine, their crude oil refining capacity would be 400,000 barrels of oil equivalent per day, according to Husky.
Chinese tariffs may undermine US LNG project development
China's 10% tariff on US liquefied natural gas is low enough to maintain fuel shipments, but the move will likely make it more difficult for US LNG developers that need to secure customers for planned export projects, industry experts said. America's share of the global LNG market is expected to grow to about 20% by 2024, according to Madeline Jowdy, S&P Global Platts' senior director of global gas and LNG analytics.
Washington, D.C., contemplates 100% clean energy
A Washington, D.C., bill would require the city to generate 100% of its electricity from renewables by 2032. It calls for new building efficiency standards and an increase in oil and gas fees.
Trump administration loosens offshore drilling safety regulations
The Interior Department has finished revising Obama-era rules that were designed to increase offshore oil and natural gas development safety in the wake of the 2010 BP Deepwater Horizon disaster. The rollback removes or amends certain safety provisions, including a requirement that independent third parties certify safety devices, while updating guidelines for reporting equipment failures.
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