Stuttgart, Germany-based automotive powertrain and air conditioning supplier Mahle Group is expanding injection molding operations in Murfreesboro, Tenn., adding 140,000 square feet of new production lines and 300 jobs to the area. “The majority of the new business for Murfreesboro will be reallocated from other Mahle locations,” a July 29 news release said. “The addition
Read More...The 30-year mortgage rate in the U.S. is currently hovering around the historically low level of 3 percent. This extremely modest rate is primarily due to the efforts of the Federal Reserve Board, at the behest of the president, to keep interest rates suppressed in an effort to stimulate the economy. As a lifelong student
Read More...Plastics are showing up in unusual applications these days, as businesses reopen but need products to protect employees and customers from the coronavirus. Two unusual examples popped up yesterday. First, in an application near to my heart, the Atlantis became the first casino in Reno, Nev., to reopen its buffet restaurant. The Reno Gazette Journal
Read More...The Netherlands awarded the tender for the subsidy-free offshore wind farm Hollandse Kust (noord) to CrossWind – a joint venture between Shell and Eneco, Kallanish Energy reports. The ministry of economic affairs and climate policy said the companies won the bid thanks to their proposal to apply five innovative technologies to the country’s third offshore
Read More...Antero Resources has reported a GAAP net loss of $463 million or $1.73 per share in the second quarter 2020, Kallanish Energy reports. That compares to a net income of $42 million or 14 cents per share in 2Q 2019. The company has not curtailed any prediction due to the coronavirus pandemic and resulting low
Read More...CMS Energy has announced that it has purchased a majority stake in a 525-megawatt wind project in West Texas, Kallanish Energy reports. Aviator Wind in Coke County near Abilene will be operated by CMS Enterprises, a subsidiary of Michigan-based CMS Energy. It purchased the majority stake from funds managed by Ares Management Corp.’s Infrastructure and
Read More...French energy major Total posted on Thursday losses of over $8.37 billion during second-quarter driven by impairments, lower hydrocarbon prices and production levels, Kallanish Energy reports. The net loss compares to a net profit of $2.76 billion during the same period last year, as “exceptional circumstances” led to asset impairments totalling $8.1 billion. The majority
Read More...U.S. independent E&P firm Apache Corp. reported on Thursday net losses of $397 million in the second quarter of 2020, alongside a new oil discovery on Block 58 offshore Suriname. The net loss attributable to shareholders was driven by significantly lower revenues from oil production during second quarter compared to the previous year, which fell
Read More...... … … [Editor Comment: Pipelines here at home in the U.S. are ever harder to get done as extremist opponents tie them up in courts, but China is moving ahead ever faster.] While pipelines in the United States face increasingly hostile legal challenges, China is seeing the importance of a national oil and natural
Read More...Montage Resources Corp. has agreed to sell noncore natural gas gathering assets in Ohio’s Utica Shale for $25 million to an undisclosed company, according to Natural Gas Intelligence. According to Montage, an international company agreed to purchase the infrastructure. The transaction is expected to close in the fourth quarter of this year. Montage will use
Read More...Improving demand and higher feedstock costs sent North American prices for polyethylene, solid polystyrene and suspension PVC resins up in July. Regional prices for all grades of PE jumped 5 cents per pound in July as strong demand combined with lower output at some locations. PE prices in the region had moved up 4 cents
Read More...The need for new infrastructure and the importance of American energy were the key messages during President Donald Trump’s speech during his visit to Midland-Odessa, the de facto capital of the Permian Basin. The president was in the world’s largest oilfield to tour an oil rig and speak to constituents about the importance of the
Read More...Governor Jared Polis, Democratic leaders behind SB 181, Colorado Rising, and the oil and natural gas industry all agree that 2020 is not the year for a fracking fight in Colorado. Nonetheless, Colorado’s “Keep It In The Ground” activist groups are promising to forge ahead with more anti-oil and natural gas ballot measures in 2021
Read More...Two weeks ago there were 27 new permits issued in Pennsylvania for shale drilling. Last week, July 20-24, there were only 3 new PA permits. Ouch. Finally, after several weeks of no shale permits in Ohio, the Buckeye State issued 8 new shale permits–all for the same well pad. In West Virginia, there were 3
Read More...Earlier this month Dominion Energy announced it is throwing in the towel and canceling the 600-mile Atlantic Coast Pipeline (ACP) project that would have stretched from West Virginia to North Carolina. The company also announced it is selling its pipeline business to Warren Buffett (see Dominion Cancels Atlantic Coast Pipe, Sells Pipe Biz for $9.7B).
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