New US Pipelines to Drive Natural Gas Boom as Exports Surge
U.S. energy firms are scrambling to finish a slew of pipelines that will unleash rich reserves of shale gas in Pennsylvania, West Virginia and Ohio as the nation prepares to become one of the world’s top natural gas exporters. The pipelines are expected to boost output from shale fields in the three states by giving producers access to new domestic and international markets. Those states could supply about a third of all U.S. natural gas once the pipeline expansion is complete, up from about 25 percent now, according to projections from the U.S. Energy Information Administration (EIA).
Offshore Floaters: RBI Service Launched by LR
New Risk-based Inspection (RBI) service launched by Lloyd’s Register combines hull integrity management with Class to help minimize costs for operators of floating offshore installations (FOIs). Initiative will help optimize inspection regimes and provide added value to Class by providing a more flexible approach to help operators mitigate risk and unplanned downtime in hull integrity management of floating units, such as FPSO and FLNG vessels. Called Risk-based Inspection (RBI), it enhances the traditional periodic approach to inspection planning and helps to achieve higher reliability and a longer operating time; minimizing downtime and reducing risk.
SinoCoking Coal Jumps 200% on New China Contract
Shares of SinoCoking Coal and Coke Chemical Industries were up as much as 200 percent in heavy volume following the coal processor's agreement to implement a technology to convert coal into syngas at four underground mines in China. Volume hit more than 19 million shares by late morning, making it the most active day in the stock's history, while the stock's 200 percent rise would be the biggest one-day percentage jump for the company ever. The stock, which is up 663 percent for the year so far, was the leading percentage gainer on the Nasdaq on Tuesday and was among the day's most active names in the index.
Construction and Drilling Training Center Opens
TQ Construction and Drilling Training Center Inaugurated in Dammam. Leading representatives from Saudi’s oil and gas sector gathered in Dammam on Thursday, February 27, to launch the newest Saudi Petroleum Services Polytechnic (SPSP), the Construction and Drilling Training Center. His Royal Highness Prince Saud bin Naif bin Abdulaziz attended the Inauguration, along with His Excellency, Eng. Ali Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources; Dr Ali Nasir Al-Ghofais, Governor of TVTC and His Excellency Mr Khalid Al-Falih, President and CEO of Saudi Aramco.
