Malaysia’s state energy firm Petronas said on Oct. 4 it had set up a $350 million venture capital arm for industrial and energy investments. The newly launched Petronas Corporate Venture Capital will look to invest in startups in advanced materials, specialty chemicals as well as those involved in the future of energy, Petronas said in
Read More...Subsea 7 said Oct. 3 it has acquired 4Subsea, a leading provider of technology and services that delivers key decision support to oil and gas and offshore wind operators worldwide. 4Subsea will function autonomously within Subsea 7, maintaining an independent brand and management team. 4Subsea’s Peter Jenkins will continue in his role as CEO of
Read More...Royal DSM and other engineering resin makers will be at K 2019 with new high-performance materials. DSM — Hall 6, Booth B11 based in Geleen, Netherlands — will show how it’s developing innovations to address the needs of its customers and tackle the world’s major challenges, officials said in a news release. In metal replacement,
Read More...BP’s board of directors announced today CEO Bob Dudley will retire on March 31, 2020 and will be succeeded by Bernard Looney – who currently heads BP’s Upstream, Kallanish Energy reports. Dudley decided to step down as group chief executive and from the BP Board following delivery of the company’s 2019 full year results on
Read More...U.S. exports of crude oil rose to average 2.9 million barrels per day (Mmbpd) in the first half of 2019, an increase of 966,000 b/d from the first half of 2018, the Energy Information Administration reports. U.S. crude oil exports also set a record-high monthly average in June, at 3.2 Mmbpd, Kallanish Energy learns. Despite
Read More...Pennsylvania Gov. Tom Wolf’s administration is working to bring the state into a regional consortium of states that sets a price and caps on greenhouse gas emissions from power plants, part of the Democrat’s agenda to fight climate change, Kallanish Energy reports. Wolf made a formal announcement Thursday that he’s ordering a start to the
Read More...The United States Geological Survey estimates the Marcellus Shale and Point Pleasant-Utica Shale formations of the Appalachian Basin contain around 214 trillion cubic feet of undiscovered, technically recoverable continuous resources of natural gas. “Watching our estimates for the Marcellus rise from 2 trillion to 84 trillion to 97 trillion in under 20 years demonstrates the effects
Read More...... … … The U.S. natural gas supply has grown by about 20% in just two years, according to the latest analysis of reserves, enough to supply us for 100+ years. The Potential Gas Committee has announced the amount of producible natural gas in the United States, our natural gas supply, has increased by about
Read More...PVC pipe makers Sanderson Pipe Corp., based in Clarksville, Tenn., and Texas United Pipe Inc., of Houston will merge by the end of year after operating separately under common ownership since May 1. The pending deal between the regional manufacturers calls for Texas United Pipe to become a wholly owned subsidiary of Sanderson Pipe, which
Read More...The Italian manufacturer of flame retardants and performance additives Italmatch Chemicals has invested in U.S.-based FRX Polymers Inc., a manufacturer of Nofia-branded polymeric phosphorus-based flame retardants. With the unspecified investment announced Oct. 2, Italmatch has joined with previous major investors in FRX, including: Citic Capital, Evonik Venture Capital, Triton Systems, Capricorn Venture Partners, Israel Cleantech,
Read More...TPC Wire & Cable Corp. in Macedonia this week acquired two companies: Cicoil LLC in Valencia, Calif., and Pittsburgh Wire and Cable Inc. in Pittsburgh, Pa. The company, which makes wires and cables insulated in thermoset and thermoplastic materials, announced the acquisitions in a set of news releases. Terms of the deals are not being
Read More...On August 1, Enbridge’s Texas Eastern Pipeline Company (TETCO) pipeline exploded in Lincoln County, Kentucky–killing one and sending six to the hospital (see TETCO Pipe Explodes in Kentucky Killing 1; Southbound M-U Gas Stops). Since that time one of the three TETCO pipes in the area has returned to service. The federal Pipeline and Hazardous
Read More...Really? Is this what it’s now come to? Pennsylvania Attorney General Josh Shapiro is so desperate to make a criminal case against someone, anyone, in the shale industry, he’s even going after state employees–workers at the PA Dept. of Environmental Protection (DEP). In a bid to raise his visibility among state voters (so he can
Read More...PA Gov. Tom Wolf The worst Pennsylvania governor in our lifetime continues to wreck the PA economy. Tom Wolf previously made noise about dooming PA’s economy by forcing the state to adopt a so-called “cap-and-trade” plan for carbon dioxide–the stuff every living animal, including humans, breathes out with every breath (see PA Gov. Wolf, Dem
Read More...Ohio’s major newspapers continue to push back against phony commercials being run by FirstEnergy in a desperate attempt to block a referendum to overturn House Bill (HB) 6 (see FirstEnergy Runs Attack Ad, Claims China Controls OH NatGas Plants). HB 6, a corporate welfare bill, was recently passed to prop up two FirstEnergy bankrupt nuclear
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