Danos has been awarded a multiyear contract on Feb. 2 for production operations with a major oil and gas producer in the Gulf of Mexico (GoM). As a result, Danos has transitioned 107 personnel to the company’s employment over a 30-day period with zero safety or operational issues. The contract began in October, and the
Read More...The 2020 oil price collapse placed a dagger in U.S. Lower 48 tight oil production and a myriad of constraints counters the idea of the sector returning to a growth trajectory. However, Wood Mackenzie analysts say ongoing developments like capital discipline, consolidation and well spacing will drive the U.S. tight oil sector toward growth again—eventually.
Read More...NEW YORK—MPLX LP’s crude and fuel pipeline volumes fell about 8% to average 4.72 million barrels per day (MMbbl/d) in the fourth quarter, driven by lower refinery runs at Marathon Petroleum Corp. (MPC) as the coronavirus crisis weighs on oil demand. Crude pipeline volumes fell 7% to about 2.97 MMbbl/d in the fourth quarter, MPLX said. Marathon Petroleum
Read More...Halliburton Co. has been awarded a contract from Kuwait Oil Company (KOC) on Feb. 3 to collaborate on their digital transformation journey through the maintenance and expansion of digital solutions for their North Kuwait asset. It will allow KOC to accelerate their data-to-decisions cycle by designing and operating digital twins of the field to automate
Read More...Düsseldorf, Germany — Messe Düsseldorf, the organizer of the K trade show in Germany, has purchased a share of Colombiaplast, a major show in Latin America. The next Colombiaplast is scheduled for June 22-25 at Corferias, the International Business and Exhibition Center of Bogota. “Colombia is one of the fastest growing markets for plastics technology
Read More...The Benvic Group is set to launch a range of biopolymers that specifically target the plastic films sector. The company has committed what is says are “significant R&D resources” to their development to ensure their uptake in the marketplace. Under the brand name Plantura, Benvic will be launching a number of new film grades, available
Read More...Brazilian state-run oil company Petrobras received offers from three consortia looking to build the company’s first in-house platforms in more than seven years, the company said on Feb. 2. In a release, Petrobras said it had received offers from consortia led by Samsung Heavy Industries Co., Daewoo Heavy Industries & Machinery Ltd. and Keppel Corporation
Read More...Magellan Midstream Partners LP on Feb. 2 reported a drop of about 36% in net income in the fourth quarter as the COVID-19 pandemic reduced demand for refined products. The company also reported lower volumes and average rates on its crude oil pipelines, in part because several of its higher-priced contracts on the Longhorn pipeline,
Read More...Thermoformer and injection molder WeatherTech is continuing its “Made in America” message with two separate ads for the Super Bowl. And if that’s not enough, there’s a third 30-second ad set to air before kickoff. The auto accessories company based in Bolingbrook, Ill., unveiled all three items in advance of the game, posting them on
Read More...George StarkDirector, External AffairsCabot Oil & Gas … .. [Editor’s Note: Methane leak reduction is a priority for Cabot Oil & Gas and the company uses an OGI camera to detect and eliminate those leaks.] Have you ever wondered how gas leaks are detected while in the field? We rely on the use of an
Read More...So, global G ... … …[Editor’s Note: The Paris Climate Agreement is a virtue signaling exercise wrapped in anti-Americanism and global corporatism, so we rejoined, of course.] Former President Trump withdrew the United States officially from the Paris Climate Agreement on November 4, 2020, having claimed in 2017 it would cost the country $3 trillion in
Read More...Dozens of unhappy investors told Exxon Mobil Corp. on Feb. 2 to move more quickly and forcefully to improve returns and focus on clean energy, hours after the oil company reported a historic annual loss and said it added a new director to its board. Exxon Mobil reported a net annual loss of $22.4 billion
Read More...[Editor’s note: This story was updated from a previous version posted at 1:35 p.m. CT Feb. 2.] Oil hit an 11-month high on Feb. 3, boosted by a draw in U.S. crude and gasoline stocks, which fueled demand recovery hopes as OPEC+ has forecast that the market will be in deficit in 2021. Brent crude
Read More...U.S. oil and gas production is currently 7 MMbbl/d below peak, and significant investments in production will be needed to maintain consumption, according to Paul Goydan, the Houston-based head of North American energy practice with Boston Consulting Group (BCG). “In our long-term models, even with peak demand coming sooner, we estimate that by 2030 the
Read More...David Spigelmyer recently announced his retirement as president of the Marcellus Shale Coalition during the organization’s winter membership meeting, according to the Observer-Reporter. Spigelmyer served as the coalition’s president for the past seven years. He is exiting the natural gas industry with nearly four decades of experience. Spigelmyer will be succeeded by David Callahan, a vice
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