Bank of America is the latest large U.S. bank to announce it will not finance oil and gas drilling projects in the Arctic, according to Yahoo News. Goldman Sachs, Morgan Stanley, Chase, Wells Fargo and Citi have all adopted similar policies this year. Bank of America’s decision follows the Trump administration’s decision to launch the
Read More...Energy Transfer, Shell Issue Invitation To Tender For Lake Charles LNG Project The Lake Charles LNG project, led by Energy Transfer LP and Shell US LNG LLC, has issued an Invitation to Tender (ITT) on May 3 to U.S. and international consortia to bid for the engineering, procurement and construction (EPC) contract to convert Energy
Read More...Global benchmark Brent crude prices rose 1% to their highest since early March on Dec. 3 on renewed hopes for a U.S. stimulus deal and after major oil producers agreed to increase output by a modest 500,000 bbl/d from January. The increase means OEPC and Russia, a group known as OPEC+, would move to cutting
Read More...The Trump administration on Dec. 3 said it would issue a sale notice for oil leases in the Arctic National Wildlife Refuge (ANWR) next week, putting it on track to hold a drilling auction in the ecologically sensitive area shortly before President-elect Joe Biden takes office. The move is the latest step toward pulling off
Read More...Contango Oil & Gas Co. recently agreed to acquire a bundle of oily, low decline assets at what Contango CEO Wilkie S. Colyer described as an “attractive valuation.” The Fort Worth, Texas-based company will pay $58 million in cash for the acquisition of PDP heavy reserves located in in the Big Horn, Permian and Powder
Read More...The leadership challenge in every sector is to think systematically about the future opportunities and threats and how their companies need to be reinvented to be relevant. The energy sector is no exception. The need to produce energy that is sustainable, secure and affordable is pushing the industry to find 20 to 30 percent more
Read More...Bellatorum Resources LLC recently launched a $100 million fund with capital earmarked for buying productive oil and gas royalties in Texas. Based in Spring, Texas, Bellatorum is a veteran-owned and operated professional service firm specializing in the acquisition of land and royalty interests. Chris Bentley, the company’s founder who also serves as its president and
Read More...Mexico City — The three companies behind Mexico’s national plan for the handling and recycling of expanded polystyrene waste aim to quadruple the number of collection points across the country in 2021. “We’re working on a project for next year to increase EPS waste collection rates,” a spokeswoman told Plastics News in a recent interview.
Read More...Mexico City — Mexico’s national plastics industry association has delivered a withering attack on authorities in the Mexican capital over plastic bag and utensil bans, accusing them of totally ignoring its calls for anti-plastic laws to be put on hold. “We have never been listened to,” Anipac Managing Director Raúl Mendoza Tapia told Plastics News
Read More...Nordson Corp. plans to sell the screws and barrels product line in its polymer processing systems division to Chicago-based private equity firm Altair Investments Inc. The product line generates more than $70 million in annual sales and employs 500, a news release from the Westlake, Ohio-based company said. In the release, Executive Vice President and
Read More...When Frank Esposito put together his special report on the compounding sector last year, he called 2019 a confusing year. Some companies did quite well, but others fell short of expectations. Economic uncertainty remained a concern as companies looked ahead to 2020. Their concerns last year seem almost quaint today. The automotive market might be
Read More...Trinseo has inaugurated a pilot facility in Hsinchu, Taiwan for production of thermoplastic polyurethane, thermoplastic elastomers and bio-based plastics for customers in the Asia-Pacific region. The new facility is built at the company’s existing site Hsinchu, and will bring the company physically closer to customers in the automotive, consumer electronics, footwear and medical markets, it said.
Read More...LONDON—Global progress toward energy efficiency has slowed to its lowest rate in 10 years due to subdued prices amid the COVID-19 pandemic, the International Energy Agency said on Dec. 3, dealing a setback to efforts to curb climate change. “As a result of the crisis and continuing low energy prices, energy intensity is expected to
Read More...Yesterday CNX CEO Nick Deluliis was one of the keynote speakers at the annual DUG (Developing Unconventional Gas) East event, held virtually this year. Normally DUG is held at the Convention Center in Pittsburgh. Deluliis’ talk was wide-ranging, but much of it concentrated on mergers and acquisitions, particularly M&A in the Marcellus/Utica. Deluliis is not
Read More...In June 2019 the Cambridge (Massachusetts) Retirement System sued EQT claiming EQT’s executives had made false and misleading statements about their 2017 purchase of Rice Energy–claims about cost efficiencies that never materialized, and claims about the location of Rice leases that were not as close to EQT’s acreage as claimed (see Mass. Retirement Fund Sues
Read More...