Traverse City, Mich. — The automotive industry talks a lot about disruption and how the speed of change is accelerating, as automakers and suppliers reorganize and adapt to the advanced technology embedded within four letters: CASE (Connected, Automated, Shared and Electrified). But Toyota Motor Corp.’s Wayne Powell views the disruption and change as a “discontinuity
Read More...Opportunities are endless in the plastics industry, which “appears to only be growing and expanding in many different directions,” said Bobby Jones, sales representative at resin distributor Osterman & Co. Inc. in Atlanta. Jones, 30, said in his Rising Stars survey that one of the most fascinating markets going forward will be biodegradable resins and
Read More...Creative Pultrusions Inc., a maker of fiber-reinforced polymer products, has added a building on its campus to include its Tower Tech cooling tower business. A grand opening and ribbon cutting ceremony for the new building is set for Aug. 13 in Alum Bank, Pa. Guided tours at the event will showcase the manufacturing process of
Read More...EnLink Midstream LLC reported financial results for the second quarter of 2019 and updated financial guidance for full-year 2019. EnLink also announced the signing of a precedent agreement for natural gas transportation with Venture Global Calcasieu Pass LLC related to Venture Global’s planned Calcasieu Pass export facility in Louisiana. Highlights Reported a net loss attributable to EnLink of $16.1
Read More...Traverse City, Mich. — General Motors Co. drew attention last year when it announced the option for a carbon fiber pickup box on the GMC Sierra. The application of the high-cost, high-strength thermoplastic material on the truck bed was a first for the automotive industry, which typically recites a “cost is king” mantra. Mike Siwajek,
Read More...Despite a multibillion-dollar buyout offer from its shareholder and hedge fund Elliott Management Corp., QEP Resources Inc. said Aug. 7 it will remain an independent company. Instead, the Denver-based oil and gas producer entered into a cooperation agreement with Elliott, which owns about 4.9% of QEP’s common stock, that includes working together to identify two
Read More...Devon Energy Corp. raised its full-year oil output forecast and beat estimates for quarterly profit on Aug. 6, as the U.S. oil and gas producer drilled more in the Delaware basin and sold it at higher prices while keeping a tight lid on expenses. The company recorded a 5% rise in prices for oil sold
Read More...Tom ShepstoneShepstone Management Company, Inc. … … Marcellus Shale Impact Fees (Act 13 funds) are being used to train emergency service providers to save lives in Susquehanna County, Pennsylvania. Susquehanna County is using its Marcellus Shale Impact Fees to save lives. It’s investing some of the Act 13 money its received from gas drilling in
Read More...... … … Offshore wind projects along the East Coast are being regularly challenged successfully on environmental impact grounds, especially by fishermen. In Massachusetts and New York, fisherman seem to be winning small victories against offshore wind farms. The Edgartown Conservation Commission in Massachusetts denied an underwater cable route off the town’s coastline, citing the potential
Read More...Caliber Midstream Holdings said Tuesday it’s acquired Bakken assets in North Dakota from American Midstream Partners for an undisclosed price, Kallanish Energy reports. The purchase expands Caliber’s crude oil gathering and transportation service lines and widens Caliber’s area of operations within McKenzie County, North Dakota. The acquired assets include a Federal Energy Regulatory Commission-regulated crude
Read More...Black Bear Midstream said Tuesday it’s entered into a seven-year gas gathering and processing agreement with an unnamed Cotton Valley producer in Louisiana’s Desoto and Caddo parishes, Kallanish Energy reports. Black Bear will build roughly 20 miles of 16-inch, rich gas gathering pipeline west of its DeSoto Parish, 140 million cubic feet per day cryogenic processing
Read More...Crude oil prices fell slightly Tuesday, with Brent crude remaining near seven-month lows just below $60 a barrel due to growing trade tensions between China and the U.S., Kallanish Energy reports President Trump is vowing to impose new tariffs on Chinese imports, and China is retaliating by making further moves against U.S. agricultural purchases. The
Read More...Chesapeake Energy Corp.’s shares reversed course yesterday, trading down nearly 12% as Wall Street analysts raised concerns about its debt level and the impact of spending on its cash flow, according to Reuters. Concerns of Chesapeake overspending come as investors are pressing oil and gas producers to cut their budgets and save cash for dividends
Read More...The U.S. Government would like to use the principles of blockchain to track crude oil from spigot to importation, and the U.S. Customs and Border Protection (CBP) is looking for pipeline companies interested in testing this project this year. × The concept of using blockchain to track oil has been completed with a few major
Read More...Our pick of the downstream industry news you need to know. × US-China Trade War unlikely to be resolved in 2019 Analysts at Goldman Sachs no longer think the U.S. and China will manage to negotiate a trade deal ahead of the 2020 presidential election. “We had expected a final round of tariffs targeting remaining
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