Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels & Petrochemicals.
EIA reports increase in US gas proved reserves in 2016
US proved natural gas reserves climbed 5% to 341.1 trillion cubic feet in 2016, while proved reserves of oil and condensate were unchanged from 2015 at 35.2 billion barrels, according to the Energy Information Administration. Pennsylvania posted the largest net increase in gas proved reserves in 2016, adding 6.1 trillion cubic feet.
US LNG boom upends global markets
Surging shale production, Gulf Coast infrastructure expansions and looser regulations are positioning the US to become one of the world's top liquefied natural gas exporters over the next few years. There are six LNG projects under development that would add 10 billion cubic feet per day to the US' export capacity once they come online and help expand the nation's reach to new markets.
Graphics units, algorithms to spot oil platform problems, Baker Hughes says
Oilfield services company Baker Hughes says it will use Nvidia graphics processing units to help predict equipment failure in oil drilling and refining operations. The processing units will allow algorithms to use unstructured data from sensors to create oil platform models.
Largest offshore oil, gas lease sale scheduled for March
The largest oil and natural gas lease auction in US history is scheduled to take place on March 21, the Interior Department announced Friday. The auction will involve 77.3 million acres offshore Texas, Louisiana, Mississippi, Alabama and Florida.
Colo. approves oil, gas tax hike
The Colorado Oil and Gas Conservation Commission on Monday voted in favor of increasing taxes on oil and natural gas producers to help the state address the environmental impacts of drilling. Under the plan, the state would raise $4.8 million by charging drillers 0.11 cents per dollar of oil and gas produced.
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