Texas Petrochemical Fire Continues to Burn
Three workers were injured in a massive explosion on Wednesday that sparked a blaze at a Texas petrochemical plant, the latest in a series of chemical plant accidents in the region.An initial blast at a TPC Group complex in Port Neches, Texas, was followed by secondary explosions that shattered windows…
Three Injured in TPC Port Neches Explosion
Three workers were injured in an early Wednesday explosion that sparked a blaze at a petrochemical plant in Port Neches, Texas, the latest in a series of chemical plant accidents in the region.An initial explosion at the TPC Group plant was followed by secondary blasts, shattering windows and blowing locked doors off their hinges in homes near the facility…
Natural Gas Liquid Market to Cross 14 mbl/day by 2025
Global Natural Gas Liquid Market is poised to cross 14 million barrels per day by 2025, said a study.Japan natural gas liquid market is projected to surpass an annual consumption of 0.2 mbl/day said the latest study by Global Market Insights.Accelerating funding’s toward chemical industry…
DAVOS: Oil Majors Huddle in DAVOS to Mull Future
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions was worrying for those present - pressure…
Russia's Rosneft Signs Oil and Gas Deal with China
Russian oil giant Rosneft said that China National Chemical, known as ChemChina, agreed to purchase 2.4 million tons a year of crude oil. That amount is equivalent to 6% of Rosneft's total exports to China in 2017.Crude oil from Eastern Siberia will be transported to a Russian Far East port…
TransCanada Urges U.S. to Help Gas Pipeline Approvals
The United States should help the natural gas industry overcome environmental challenges to new pipeline projects by adjusting regulations or adopting new laws favoring infrastructure, an executive at TransCanada Corp said at a conference this week. Suppliers in the United States, the world's biggest natural gas producer…
Sibur Says New Gas Chemical Complex Will Cost up to $8 Bln
Russian petrochemical company Sibur said its plans to build a gas chemical complex in Russia's Far East will require preliminary investments of up to $8 billion and it is still looking for Asian partners.Sibur said a year ago that it had been in talks with a number of Chinese investors about…
Agreement Paves Way for South African Offshore Supply Base
South Africa’s first dedicated and customized facility supporting offshore oil and gas activities will be introduced at the Port of Saldanha. This follows the conclusion of an agreement between Transnet National Ports Authority (TNPA) and Saldehco Pty Ltd, which was signed off at an official ceremony at the port on Monday…
Subsea Infrastructure: Challenges & Solutions
As offshore oil and gas reserves become ever more difficult and costly to recover, the demand for innovative technology has never been greater. Joe Orrell, managing director at RED Engineering, considers some of the challenges in subsea infrastructure design and the role of fast track engineering solutions.
Trelleborg Solutions for FLNG Ship-to-Shore System
Trelleborg has hailed the recent test of the Universal Transfer System (UTS) conducted with Connect LNG and Gas Natural Fenosa, as tangible evidence of the new applications that its suite of products for jettyless LNG transfer can unlock in this challenging field. The UTS transferred LNG…
Gangway Innovation Allows Safer Transfer at Offshore Wind Farms
Ampelmann has created, in cooperation with Seaway Heavy Lifting, an industry first innovation allowing workers safe and efficient access to install the jackets for 84 wind turbines on the Beatrice Offshore Windfarm Limited project in the Outer Moray Firth. Global offshore contractor Seaway…
Venezuela Bondholders Mull Alliances
Holders of Venezuelan bonds are meeting with each other and considering forming committees, advisers and fund managers told Reuters, as questions mount about the feasibility of President Nicolas Maduro's proposal to restructure $60 billion of debt. Maduro has said the country will keep servicing its obligations for now.
China regulator still plans oil futures
China's top securities regulator is still preparing to launch oil futures and is considering lifting restrictions on stock index futures imposed during the 2015 stock market crash, the Shanghai Securities Times said on Saturday. The newspaper report cited an internal meeting at the China Securities Regulatory Commission (CSRC) held by its chairman…
Corvus Delivers for Hybrid Port Equipment
Corvus Energy will provide newly-designed lithium-ion energy storage systems (ESS) for a hybrid rubber-tired gantry crane (RTG) designed by CCCC Shanghai Equipment Engineering (CCCCSEE). The new ESS solution from Corvus is a smaller, ultra high power, liquid cooled system designed specifically to meet the RTG power requirements more cost effectively.
Oil, Equities, Emerging Markets End Year on Upbeat
Oil prices edged down on Friday but headed for their biggest annual percentage rise since 2009, with world stocks also up nearly 6 percent over the year despite concerns over China's slowing growth and weakening currency. Global markets have fared surprisingly well in a year marked by major political shocks…
OPEC Makes Last-ditch Bid to Save Oil Deal as Tensions Grow
OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance even without an agreement. A gathering of OPEC experts failed to reach a compromise on how exactly…
OPEC Tensions Grow as Oil Deal hopes Fade
Analysts predict sharp drop in oil prices if no deal. OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance even without an agreement. OPEC experts…
Police Fire Water Cannon at Dakota Pipeline Protesters in Freezing Weather
Police fired tear gas and water at hundreds of protesters in North Dakota opposed to an oil pipeline in freezing weather late Sunday and early Monday, in the latest violent clash between law enforcement and activists over the $3.7 billion project. A joint statement from several activist groups…
Japan Commodity Exchange Halts as Heavy Trading Overwhelms
The Tokyo Commodity Exchange (TOCOM) has twice halted trading since early Thursday morning, with at least one of the interruptions caused by heavy trading orders following Donald Trump's surprise U.S. presidential election victory. The exchange - which trades gold, crude oil and rubber, among…
Four killed in Eastern India during Coal Mine Protest
Four people died in eastern India when police opened fire during clashes with villagers who allege state-run NTPC Ltd violate forestry rights and does not offer enough compensation when acquiring land for a coal mining site. Senior police officer M.S. Bhatia said the deaths occurred after…
