U.S. energy consumption may not return to 2019 levels until 2029, the Energy Information Administration (EIA) forecast in its Annual Energy Outlook 2021, released Feb. 3. The estimate is based on the pace of economic recovery, which is complicated by the continued impact of the COVID-19 pandemic. If the U.S. is saddled with low economic
Read More...Pawcatuck, Conn. — Davis-Standard LLC has scheduled a Feb. 11 webinar to discuss slitter rewinder features that increase uptime and productivity. Keith Hamilton, a 23-year employee of Deacro Industries Ltd., will talk about the automaton of knife set-up, core positioning, unwind roll loading and final product roll handling. Hamilton also will share examples of processing
Read More...Parma, Italy — Sidel Group and Elettric80 Inc. started a strategic alliance to provide comprehensive services — from production to warehouse, distribution and logistics management — for processors in the beverage and food, home and personal care markets. The companies aim to act as a one-stop source for producers looking to become more flexible and
Read More...HUGE news! This morning the U.S. Supreme Court decided to hear the PennEast Pipeline case. The case appeals a lower court ruling that disallows PennEast from using eminent domain to build across land owned or controlled by the State of New Jersey. The court’s acceptance of the case is an excellent sign PennEast will win
Read More...Diversified Gas & Oil (DGO) owns close to 8 million acres of leases with some 60,000 (mostly) conventional oil and gas wells. Their focus has been to acquire quality production and cash flow–regardless of the well or commodity type (gas or oil)–in the Appalachian Basin. DGO currently owns over 400 Marcellus/Utica shale wells in their
Read More...Chesapeake Energy will emerge from Chapter 11 bankruptcy next week having dumped $7 billion of old debt (out of $8.9 billion) and taking on $2.5 billion in new debt financing (see Court Approves Chesapeake Bankruptcy Plan to Dump $7B of Debt). Yesterday the company issued an announcement to say it is raising $1 billion of
Read More...Zenith Energy, based in Houston, TX and Metuchen, NJ, announced yesterday it has purchased the bulk terminal storage operations of Guttman Energy in three locations: Aurora, Ohio, Belle Vernon, Pennsylvania, and Star City, West Virginia. Zenith says the reason for buying the terminals is to support customers in the Marcellus/Utica. What, exactly, is Zenith selling to
Read More...Clarington, OH The Monroe County, OH Port Authority has scored close to $3 million in grants and loans to fund a development project located at a former CONSOL Energy coal mining site south of Clarington, OH. The money will be used to build an access road and repair eight of 12 existing barge cells on
Read More...Ohio AG Dave Yost We continue to peel back the layers of the rotten, smelly, stinky onion that is Ohio’s House Bill (HB) 6, a law granting billions (plural) to FirstEnergy in an attempt to prop up the company’s economically failing nuclear power plants. FirstEnergy is accused of bribing legislators to pass, and keep passed,
Read More...MARCELLUS/UTICA REGION: Epsilon Energy Ltd. announces changes to the board of directors; OTHER U.S. REGIONS: TVA proposes to build new gas plants at shuttered coal sites; NATIONAL: ExxonMobil caps year from hell with $22 billion loss, as activists demand big change; Biden’s Keystone XL order hurts America’s ability to do the big things; Global energy
Read More...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
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