John Kemp is a Reuters market analyst. The views expressed are his own. LONDON—Oil futures prices have started to signal OPEC+ may have to do more to offset a second wave of coronavirus and a renewed economic slowdown. Between mid-September and mid-October, Brent’s six-month calendar spread had been tightening, a signal traders expected production to
Read More...Whenever something major happens that puts critical products in short supply, two things inevitably follow. First, there is a major “coming together” with diverse groups, companies and organizations forming unlikely collaborations to get done what needs to be done. That definitely occurred this year with the onslaught of the novel coronavirus pandemic. It was amazing
Read More...Oil prices fell on Nov. 5 as Democrat Joe Biden edged closer to the White House in a nail-biting U.S. presidential election, though doubts remain over further huge stimulus to bolster the economy in the face of the coronavirus crisis. Brent crude fell 20 cents, or 0.4%, to $41.03 a barrel by 1325 GMT and U.S. West Texas Intermediate (WTI)
Read More...Leading interiors supplier Yanfeng Automotive Trim Systems has repeatedly gotten the same question from automakers since debuting its futuristic Experience in Motion 2020 (XiM20) concept last year: “What does this have that we can put into our next-generation models?” The answer is inside the recently launched version, XiM21, which has production-ready features such as zero-gravity
Read More...Forum Energy Technologies has secured an order to supply specialist subsea equipment for a major cable maintenance project in South East Asia on Nov. 4. The contract, which was awarded through Forum’s local representatives, will see the company deploy a Perry XT500 trenching system and Dynacon Launch and Recovery System as well as associated surface power
Read More...Turkey began drilling at a second borehole in a Black Sea natural gas field where it made its largest ever discovery earlier this year, Energy Minister Fatih Donmez said Nov. 5. In one of the world’s biggest finds this year, Turkey said in an update in October it discovered 405 billion cubic meters (Bcm) of
Read More...Polypropylene resin prices have increased for the fifth consecutive month. North American PP prices ticked up an average of a half cent per pound in October, according to market sources contacted by Plastics News. Prices were up 3 cents in September and now have moved up a total of 14.5 cents since June. The October
Read More...Louise, Texas — Brian T. McGuirk, 69, who had more than 30 years of sales experience in the plastics industry, died Oct. 28 in Louise after a four-year battle with cancer. McGuirk was most recently technical sales manager for Houston-based Neutrex Inc.’s Purgex purging compounds since 2006. The company called McGuirk “a walking encyclopedia” who
Read More...Honey Harbour, Ontario — Rodion “Rod” Monster, who had a decades-long career in plastics compounding and distribution in Canada, died Oct. 30 at age 75. Monster was born in The Hague, Netherlands, during the last few months of World War II. He was born on the dining room table, and his father, who was hiding
Read More...If you’re near Bartow, Fla., you can check in on a new development in plastic pipe production. Australia’s Tubi Ltd. has launched modular pipe production on land leased from customer Mosaic Co., producing 500-foot lengths of pipe used in phosphate mining wastewater systems. Tubi’s patented “mobile modular extrusion system” allows the company to turn out
Read More...Tom ShepstoneShepstone Management Company, Inc. …. …. The New Fortress export facility is being fought by the Delaware PovertyKeeper because it’s key to so much regarding natural gas. Our buddy, Jim Willis, from Marcellus Drilling News, has an excellent piece explaining so much of why the Delaware PovertyKeeper a/k/a Riverkeeper is so adamantly opposed to
Read More...John Brawley, executive vice president and CFO of Maverick Natural Resources LLC, is today’s featured Forty Under 40 honoree. Maverick Natural Resources is a Houston-based E&P focused on the development and production of long-lived oil and gas reserves throughout the U.S. The company emerged from the restructuring of its predecessor and large public MLP, Breitburn
Read More...Canadian oil and gas producer Tourmaline Oil Corp. said on Nov. 4 it has acquired Jupiter Resources Ltd. in an all-stock deal valued at approximately CA$626 million (US$476.63 million), inclusive of debt. Tourmaline also said it bought Modern Resources Inc. for CA$144 million in a cash and stock deal on Nov. 2, and hopes the
Read More...U.S. oil and gas stocks rose while those of renewable energy producers fell on Nov. 4, as traders gambled that even if Joe Biden wins the White House, Democrats’ likely failure to gain control of Congress would kill plans for a clean-energy revolution. Biden has proposed $2 trillion of spending in the next four years
Read More...U.S. shale producer Marathon Oil Corp. reported a fourth straight quarterly loss on Nov. 4, as the COVID-19 pandemic hammered demand for fuel and dented crude prices. U.S. oil prices have plunged 38% this year as the virus outbreak led to grounding of flights and brought economies to a standstill, but with the easing of
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