Demand worldwide for North American resins would be threatened if the Covid-19 virus spread were to turn into a pandemic. × Resin makers saw an improvement in polyethylene plastics in January that came after several months of margin deterioration but question marks including the Covid-19 spread make the outlook for the rest of the year
Read More...News Briefs × DuPont removes CEO, CFO citing unmet growth targets DuPont said on Feb. 18, 2020 its board of directors appointed chairman Edward Breen to the additional role of CEO and investor relations vice president Lori Koch as CFO following unmet targets. “While we made some progress in 2019, we did not meet our
Read More...The latest “opportunity zone” data shows momentum building for the Trump administration’s signature real estate tax break program. Last year, sale prices jumped for most property types located in federally designated opportunity zones. Notably, CoStar data shows that average prices paid for multifamily and hotel properties in these low-income areas surged to a point where
Read More...by Tom Westfall WVONGA Board President The folks who make up West Virginia’s oil and natural gas industry are proud of their work. They’re moving West Virginia ahead, and economic numbers we see each year are a source of pride. We face challenges as commodity prices are decreasing. Prices will remain low for the foreseeable
Read More...The Williams Cos. Inc. has pulled its investment in the Constitution Pipeline project, a 125-mile line proposed to move natural gas from the Marcellus Shale in Pennsylvania to New York State. The Tulsa, Okla.-based pipeline giant said in a press release on Feb. 21 that it took the action in consultation with its partners—Duke Energy
Read More...A new University of Rochester study claiming methane emissions from fossil fuel activities are higher than previously estimated is encountering criticism from the scientific community because of significant limitations and the fact that it is at odds with existing research. Contrary to headlines that gave the impression the study’s findings are written in stone, even
Read More...Global natural gas demand, increased supplies from U.S. producers, and investments in LNG capacity will continue to grow and generate additional environmental benefits, the recently released Shell LNG Outlook 2020 reports. The company’s fourth annual LNG outlook highlights key industry trends from the previous year and lays out LNG expectations spanning the next few decades.
Read More...Work is being done on the project, which could get a final investment decision sometime this year. It’s been under development since at least 2015.
Read More...Phillips 66 Partners LP agreed to acquire a 50% stake in the Liberty Pipeline, a $1.6 billion project to transport Rockies and Bakken crude oil production to Oklahoma’s Cushing hub. According to a Feb. 21 news release from the Houston-based company, Phillips 66 Partners will acquire the interest as part of a roughly $75 million
Read More...Specialty packaging injection molder AptarGroup Inc. is consolidating manufacturing in North America by closing two plants, in Stratford and Torrington, Conn. The company also announced plans to buy Dallas-based Fusion Packaging I LP, a maker of cosmetic packaging products, and officials are also talking about the impact of the coronavirus on its operations. Crystal Lake,
Read More...Shell Midstream Partners LP expects to take final investment decisions on expanding its Mars crude oil pipeline system in the Gulf of Mexico (GoM) in the first half of the year, CEO Kevin Nichols said Feb. 20. Shell has seen significant interest from oil producers as the 600,000 barrel-per-day (bbl/d) system nears capacity, and the
Read More...DENVER—It was 20 years ago when Big Sky Country started its journey into Big Oil country. It was a small group of determined dreamers who applied an entrepreneurial spirit to horizontally drill Burning Tree State 36-2H in Richland County, Mont. The Bakken was suddenly at the center of the American oil revolution. Among them was
Read More...Nashville, Tenn. — Industry needs to be ready for a much stronger government role in plastics recycling, potentially including things like fees on packaging to help pay for costly upgrades to collection infrastructure. That was the message that came from some industry leaders at the recent Plastics Recycling Conference and Trade Show, where discussions about
Read More...Flooring maker Mannington Mills Inc. is investing $22 million in an expansion in Georgia to produce luxury vinyl tile. The project follows “increased customer demand for domestically produced luxury vinyl flooring,” Georgia Gov. Brian Kemp’s office said in a Feb. 20 news release. The facility, on a 10.5-acre site in Calhoun is expected to create
Read More...The U.S. oil rig count rose for a third week in a row even though growth in the country’s largest shale formation slows as producers cut spending on new drilling for a second consecutive year. Companies added one oil rig in the week to Feb. 21, bringing the total count to 679, their highest since
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