[Editor’s note: A version of this story appears in the January 2021 issue of Oil and Gas Investor magazine.] The last of the depth charges have slipped into the sea of 2020, exploded and left the oil and gas industry shuddering, knee deep in black water, listening to metal groan. No, the oil and gas industry has not
Read More...The Plastics Industry Association continues its push to amend a Michigan standard that calls for a mechanical device on horizontal injection molding machines manufactured after Aug. 28, 1973. The Michigan Occupational Safety and Health Administration, or MIOSHA, passed a requirement for the state’s injection molding companies to update safety procedures on their presses during mold
Read More...Exxon Mobil Corp. said on Jan. 15 that its latest exploration well in the prolific Stabroek block offshore Guyana did not find oil in its target area, the second setback to its drilling campaign in recent months. Exxon, which operates the Stabroek block in a consortium with Hess Corp. and China’s CNOOC Ltd., has made
Read More...Nigeria’s Heirs Holding announced on Jan. 15 that it had bought a 45% stake in an onshore oil field in a deal that it said included $1.1 billion in financing from a consortium of global and regional banks and investors. International oil majors have been trying to sell stakes in onshore oil fields in Nigeria
Read More...The Federal Energy Regulatory Commission rendered a 2-1 majority vote last month to allow construction along a 17-mile portion at the northern end of the Mountain Valley Pipeline, according to the Chatham Star Tribune. The FERC issued a stop-work order in 2018 that halted construction within a 25-mile work zone in between two Jefferson National
Read More...Today‘s operators need efficient digital access to all available data for easy incorporation into their exploration and evaluation workflows for better and faster business decisions. When data is dispersed in de-centralized databases and non-standardized legacy formats, it makes searching for and incorporating the right geological information into a workflow very time-consuming, wasting valuable hours that
Read More...U.S. energy firms this week added oil and natural gas rigs for an eighth week in a row as crude prices recover to their highest in nearly a year. The oil and gas rig count, an early indicator of future output, rose 13 to 373 in the week to Jan. 15, its highest since May,
Read More...Vishal Goradia was promoted to CEO of Vinmar International Ltd. on Jan. 1. Houston-based Vinmar is a major international distributor of plastic resins and specialty chemicals. Goradia takes over this role from his father, Hemant Goradia, who now will focus on other Goradia family investments and continue to serve on the firm’s board of directors,
Read More...The U.S Securities and Exchange Commission (SEC) has launched an investigation of Exxon Mobil Corp., following a whistleblower complaint that the oil major over-valued a key asset in the top U.S. shale field, the Wall Street Journal reported on Jan. 15. Exxon Mobil CEO Darren Woods has pinned much of the company’s growth prospects on
Read More...New Gulf of Mexico discovery by LLOG in the Mississippi Canyon Block 503 plus several Appalachian Basin completions including three Marcellus Shale discoveries from Chesapeake Energy top this week’s drilling activity highlights from around the world. HartEnergy.com Fri, 01/15/2021 – 11:00 AM This post appeared first on Hart Energy.
Read More...Materials firm Avient Corp. will complete an expansion in February at a color concentrates plant in Vietnam. The expansion of existing production capabilities in Binh Duong will improve speed-to-market and service level for local customers, officials with Avon Lake, Ohio-based Avient said in a Jan. 15 news release. “Demand for plastics has become one of
Read More...Milan, Italy — The Italian trade association for the manufacturers of plastics and rubber processing machinery, Amaplast, is predicting a negative sales results for 2020. The estimate is based on figures for the period January-September and persisting economic fallout from the coronavirus pandemic. According to the Milan-based association, foreign trade data from ISTAT, the largest
Read More...A surprising series of price hikes hit North American commodity resin prices in December. Regional prices for polypropylene resin were hit the hardest, soaring an average of 14 cents per pound in December as the result of strong demand, tight supplies of propylene feedstock and unplanned outages at some U.S. PP resin units. North American
Read More...It’s been a long road, but we’re nearing the end. Shell’s $6 billion ethane cracker plant, officially called the Pennsylvania Petrochemicals Complex (PPC), is close to being done. It’s likely the PPC, located in Beaver County, PA, will be up and running sometime next year. When it is, the market for Marcellus/Utica NGLs will profoundly
Read More...Anti-fossil fuel zealots sent a letter to Pennsylvania Gov. Tom Wolf two days ago asking him to use dictatorial powers to overturn a permit issued by the Dept. of Environmental Protection (DEP) that allows a wastewater injection well to be built in Penn Township. The radical group ProtectPT (funded by Heinz Endowments and Google’s former
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