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
Read More...The Dept. of Interior recently released information touting the 31 drilling permits the agency has approved since Acting Interior Secretary Scott de la Vega issued an order taking that authority away from career Bureau of Land Management staff. But is that number really something to brag about? It is pertinent to understand that while drilling
Read More...Consumer goods maker and injection molder Dorel Industries Inc. has sweetened an offer to shareholders to become a private company and take itself off the Toronto Stock Exchange. The company said Feb. 1 that a buyers group including Cerberus Capital Management LP and Dorel senior executives and their families were upping the offer price to
Read More...Materials makers LyondellBasell Industries, Celanese Corp. and Hexcel Corp. are looking for sales gains in 2021 after seeing pandemic-related declines in 2020. All three firms reported full-year financial results in the last week of January. Houston-based LyondellBasell, a major supplier of polypropylene, polyethylene and plastic compounds, saw full-year sales drop 20 percent to $27.7 billion.
Read More...Global natural gas consumption suffered a record decline but proved resilient in 2020, rebounding strongly in the second half of the year and outperforming other fuel sources, the International Energy Agency (IEA) said in its quarterly gas report. The world’s annual consumption fell by about 100 Bcm in 2020, a 2.5% decline that roughly matches
Read More...Shale investor Dan Wilks on Feb. 1 reported a 5.13% active stake in NexTier Oilfield Solutions Inc., saying the shares of the U.S. provider of hydraulic fracturing services are “undervalued” and that he may push for a sale or other alternatives. The billionaire Wilks brothers have been acquiring stakes in hard hit services firms across
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