April 5, 2019 Updated 4/5/2019 Email Print Michael A. Marcotte Fernando Rosas, commercial director at DAK America’s Unit during Plastimagen 2019. Mexico City — Materials maker Alpek SAB de CV is responding to customer requests for more use of recycled PET. “There’s a lot of pressure to increase recycled content,” Fernando Rosas said April 4
Read More...Saipem has been awarded new contracts in offshore drilling in Norway and Middle East totaling over $200 million on April 5. One contract was signed with the German company Wintershall for the drilling of two wells plus two optional ones in continuity with previous engagements for operations offshore Norway. The contract will be executed by
Read More...A.P. Moller-Maersk AS spun off its oil and gas drilling unit and listed it separately on the Copenhagen stock exchange on April 4, where it was traded slightly below the book value it had in Maersk’s own accounts. The demerger is a part of the Danish shipping group’s 2016 plan to refocus its efforts into
Read More...The international rig count for March 2019 was 1,039, up 12 from the 1,027 counted in February 2019, and up 67 from the 972 counted in March 2018, according to Baker Hughes, a GE company (NYSE:BHGE). The international offshore rig count for March 2019 was 247, down 3 from the 250 counted in February 2019, and up 62 from the 185 counted
Read More...Roger CaiazzaIndependent Researcher and Publisher,Pragmatic Environmentalist of New York … ConEd and Cuomo’s PSC say some combination of solar, other renewables and heat pumps can substitute for the gas Cuomo keeps stopping at the border. Dumb idea. New York’s proposed Community and Climate Protection Act has a goal for “the state of New York to reduce greenhouse
Read More...A faltering global economy may start eating into demand for oil as early as this year, pushing prices lower, Fitch Ratings’ senior director Dmitry Marinchenko told Reuters in an interview. He said that the rating agency expects global economic growth to slow to 2.8% in 2019-2020 from 3.2% in 2018. “If the global growth slowdown
Read More...Japan’s Tokyo Gas said on April 5 it has signed a deal with Royal Dutch Shell for the long-term supply of liquefied natural gas(LNG), partly using a coal-linked pricing formula in an unusual move for an Asian LNG buyer. This is believed to be the first time a Japanese buyer is using a coal-based pricing index in an
Read More...Royal Dutch Shell Plc this week said it was leaving a U.S. refining lobbying organization in 2020 because the oil supermajor disagrees with the firm’s climate policy, Kallanish Energy learns. The oil giant, in its first review of its association with 19 industry groups, said it found “material misalignment” over climate policy with the American
Read More...Brent crude oil prices Thursday pushed through $70 per barrel for the first time in nearly five months, as expectations of tight global supply outweighed pressure from rising U.S. production and lower global demand, Kallanish Energy reports. Brent futures touched $70.03/Bbl, the highest level since Nov. 12, when it last traded above $70/Bbl. The international benchmark for
Read More...Massachusetts Gov. Charlie Baker has signed legislation funding an examination of the state’s natural gas distribution system, a move prompted by recent gas pipeline explosions, Kallanish Energy reports. In September, gas explosions and resulting fires in the state’s Merrimack Valley killed one person, injured at least 24, and damaged or destroyed more than 100 homes,
Read More...Ascent Resources achieved record daily production in December 2018, producing roughly 2.4 billion cubic feet equivalent per day (Bcfe/d) gross and 1.9 Bcfe/d net, according to Kallanish Energy. Ascent and its subsidiaries also increased proved natural gas, oil and natural gas liquids reserves to roughly 7.6 trillion cubic feet equivalent (Tcfe) with a PV-10 value at Securities and
Read More...Jim WillisEditor & Publisher, Marcellus Drilling News (MDN) … The New York State DEC has obviously been instructed by Andrew Cuomo to keep the game going against the Constitution Pipeline by throwing a Hail Mary pass. The Cuomo-corrupted New York Department of Environmental Conservation (DEC) is spitting and sputtering, “warning” the Federal Energy Regulatory Commission that if
Read More...April 4, 2019 Updated 4/4/2019 Email Print Michael A. Marcotte Construction crews put the finishing touches on a new pavilion for Qatar businesses at Plastimagen 2019. Mexico City — Qatar wants to strengthen its trade links with Mexico as it strives to overcome the crippling effects of an economic blockade imposed by Saudi Arabia, Egypt
Read More...April 4, 2019 Updated 4/4/2019 Email Print Michael A. Marcotte David Rodrigo Munoz Barrera, president, Wittmann Battenfeld México SA de CV., at Plastimagen 2019. Mexico City — Wittmann Battenfeld México SA de CV, a subsidiary of Austrian machinery maker Wittmann Group, saw a promising start to Plastimagen with two customer orders totaling around $500,000. On
Read More...Phoenix Global Resources Plc, the upstream oil and gas company offering its investors direct exposure to Argentina’s Vaca Muerta shale formation and other unconventional resources, has been granted an unconventional concession on April 4 for its Puesto Rojas Block in Mendoza Province. The company has been notified by Mendoza Province that it has been successful
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