Baker Hughes, a GE company (Bhge) announced Tuesday General Electric and its GE Oil & Gas US Holdings I, GE Holdings (US), and GE Oil & Gas US Holdings IV units have begun a secondary offering of 105 million shares of Bhge Class A common stock. The offering’s underwriters will have a 30-day option to
Read More...Iraq will immediately comply with Opec production cuts after months of overproduction, its oil minister told CNBC Tuesday. The second-largest crude producer in the 14-member cartel is known to chronically overproduce even as the group tries to curb output to help prop up prices, Kallanish energy reports. In August, Baghdad reported its highest oil production on
Read More...General Electric is looking to raise up to $3 billion in sale of majority-owned Baker Hughes shares, resulting in a reduction of the U.S industrial conglomerate’s stake in the oilfield services provider to less than 50%, Baker Hughes said on Sept 10. Shares of Baker Hughes, in which GE owned an about 50.4% stake as
Read More...Dry gas production rebounded this week and averaged at 93.1 billion cubic feet per day (Bcf/d), a week-on-week increase of 0.20 Bcf/d or 1.4 Bcf. Demand from the power generation sector has increased by 1.73 Bcf/d to 38.6 bcf/d in the report week versus the prior report week. However demand from other major sectors appears to have
Read More...U.S. dry natural gas production will rise to an all-time high of 91.39 billion cubic feet per day (Bcf/d) in 2019 from a record high of 83.39 Bcf/d last year, the Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Sept. 10. The latest output projection for 2019 was up from
Read More...Brazil auctioned off the exploration rights to 33 minor onshore and offshore oil and gas blocks on Sept. 10, in what authorities framed as a bid to boost the industry outside of the nation’s core, offshore presalt play. At an event in downtown Rio de Janeiro, firms that included the Brazilian unit of Exxon Mobil
Read More...Las Vegas-based holding company Westfall Technik Inc. added a 6,000-square-foot clean room to a facility in Ciudad Industrial Nueva, Mexico, that it acquired with AMS Plastics Inc. in March 2018. The expansion at the 75,000-square-foot facility about 2 miles from the U.S. border near Tijuana includes new electric molding machines and assembly lines for bagging,
Read More...Grove City, Ohio — Auto parts injection molder and blow molder Tigerpoly Manufacturing Inc. plans to invest $10.7 million in its Grove City operations. The plant is the Osaka, Japan-based company’s only U.S. manufacturing site. The plans, disclosed Sept. 9, will add 105,000 square feet of space to the company’s 32-year-old Grove City facility and
Read More...Our local community outdoor pool closes this week, so I suppose that really means that summer is about over. And so is iced coffee season. Just kidding. It’s always coffee season, but summer is when cold brew really seems to hit the spot. Which I mention because it’s time to update my personal straw use
Read More...Chicago — Simple messaging can help the polymer industry explain the importance of its products to consumers and turn the tide against growing anti-plastics consumer sentiment. That’s what Jonathan Quinn, market development manager for Nova Chemicals Inc., sure thinks. “You have to be simple. You don’t have to get too complex,” Quinn said following a
Read More...Flexible packaging maker Polykar Inc. is building a new manufacturing site in Western Canada to help better support customers in that region. The Saint-Laurent, Quebec-based converter has selected a 3-acre location in a business park in Edmonton, Alberta, adjacent to the city’s airport that will have a 30-million-pound-per-year capacity. The new facility will serve the
Read More...The Pittsburgh Business Times‘ ace report Paul Gough is reporting an exclusive: EQT is getting ready to fire (i.e. layoff) around 200 employees. “Multiple sources” have confirmed the plans to the PBT. Since the company employs around 800 employees, that represents 25% of the entire workforce. This comes on the heels of the company laying
Read More...This Friday Thursday the justices sitting on the Pennsylvania Supreme Court will hear what we believe is the most important shale gas court case in the history of the state: Briggs v Southwestern Energy. We consider this case to be an existential threat to the future of shale gas drilling in PA should the decision
Read More...According to analysis by S&P Global Platts, new drilling permits for shale wells across Pennsylvania have “plummeted” over the past few months–down 14% in July and down 23% in August from the same months a year ago. But, does comparing two months from this year against last year for the entire state really tell the
Read More...Like it or not, landowners are joined at the hip with the shale drillers who produce the natural gas from their land. When “the price” (which is actually a lot of different prices, depending on geography) of natural gas is high, everyone is in tall cotton. But when the price tanks, as it has over
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