LONDON—Global oil demand will rebound more slowly in 2021 than previously thought because of rising coronavirus cases, OPEC said on Nov. 11, hampering efforts by the group and its allies to support the market. Demand will rise by 6.25 million barrels per day (MMbbl/d) next year to 96.26 million bpd, OPEC said in a monthly
Read More...Houston-headquartered ConocoPhillips Co., working with Polish partner PGNiG, has discovered what the company said could be the largest discovery made this year on the Norwegian Continental Shelf. The Warka discovery (6507/4-1), located north of ConocoPhillips’ Victoria discovery, helps de-risk the Cretaceous play in the region. This post appeared first on Hart Energy.
Read More...Israel and Lebanon resumed U.S.-mediated talks on Nov. 11 over their disputed Mediterranean Sea border, which has held up hydrocarbon exploration in the potentially gas-rich area, a source and Lebanon’s state news agency said. The longtime foes held three rounds of talks in October hosted by the United Nations at a peacekeeper base in southern Lebanon that
Read More...Tupperware Brands Corp. has received a U.S. patent for its injection molded Passive Orbital Nutrition Delivery System (Ponds) device designed to grow vegetables in zero gravity on the International Space Station. The Ponds device, designed in partnership with NASA, has had three versions tested on board the ISS, David Kusuma, Tupperware’s vice president of research
Read More...Quorum Software (Quorum), a Thoma Bravo portfolio company and the leader in digital transformation for the oil and gas industry, has released 2020.1 of EnergyIQ by Quorum Software (EIQ), a well master data management solution, on Nov. 10. By working closely with leading E&P companies, Quorum delivers a robust and flexible data platform that accelerates digitalization initiatives
Read More...Injection molder Hoffer Plastics Corp. has made hiring and working with military veterans among its top priorities leading into 2021. The South Elgin, Ill.-based company says it has successfully hired numerous veterans and is committed to supporting the veterans they employ throughout the processes they undertake before, during and after future deployments. Current veteran employees at
Read More...Braskem plans to build a more efficient PVC feedstock plant in a partnership with a U.S. technology company. The Brazilian materials giant also released ambitious sustainability goals on Nov. 10, pledging to significantly expand its efforts to eliminate plastic waste in the environment by 2030 and to achieve carbon neutrality by 2050. Braskem will build
Read More...MDN will not publish today, Veteran’s Day. We thank our veterans for their service and sacrifice. An update on me and my wife’s COVID-19 diagnosis. I’m happy to report we are both 100% recovered. Neither of us required hospitalization. Thank you, from the bottom of my heart, for the many emails of well-wishes and for
Read More...Tom ShepstoneShepstone Management Company, Inc. … … Energy-related CO2 emissions have declined yet again, according to the EIA, and natural gas used for electricity is still the primary reason. It’s getting to be old news now, but the continued decline of energy-related CO2 emissions as electricity is increasingly generated by natural gas continues. It’s a
Read More...Aaron Chang, vice president of oil and gas marketing at Oklahoma City-based Continental Resources Inc., is today’s featured Forty Under 40 honoree. Chang, who had originally planned to go to medical school, said an internship as a field engineer based out of a sour gas plant in rural Oklahoma changed his mind, turning him toward
Read More...Ratings agency Fitch on Nov. 10 revised its outlook on Saudi Aramco to negative from stable, a day after similar action on the sovereign, which has a controlling stake in the oil giant. On Nov. 9, Fitch revised its outlook on Saudi Arabia to negative from stable, citing weakening fiscal and external balance sheets, but
Read More...Williams reported record natural gas gathering and processing volumes in the Appalachian region during the third quarter amid higher prices, according to Natural Gas Intelligence. Gross gathering volumes for the Northeast gathering and processing segment rose 8% year over year to 9.4 Bcf/d and gross processing plant inlet volumes increased 17% to 1.4 Bcf/d, the
Read More...Bill desRosiersExternal Affairs Coordinator, Cabot Oil & Gas … … Opportunities abound in the shale region, including the providing of such critically important services as portable restrooms in the field. The majority of activities involved with the natural gas industry occur outdoors. This means that access to modern conveniences for those who work the rigs and lay
Read More...The pandemic-induced crash has devastated the U.S. shale patch, threatening hopes for a production recovery in 2020. The fact that it’s time for a change to the current shale model, which had already fallen out of favor with Wall Street in recent years for failing to generate returns, is not lost on Vicki Hollub, CEO
Read More...Less than two weeks after announcing a new strategy to grow via acquisition, Myers Industries Inc. made good on the promise by buying one of the largest rotational molders in North America. Akron, Ohio-based Myers Industries announced Nov. 10 that it has acquired the assets of South Bend, Ind.-based Elkhart Plastics Inc. The combination of
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