Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels & Petrochemicals.
Hopes for China trade talks push oil prices higher
West Texas Intermediate prices opened 1.3% higher this week on hopes that, after US trade talks with China this week, the tariff conflict would be resolved, coupled with reductions in oil supply by producers. However, the US' rising oil supply is still expected to weigh negatively on prices, says Oanda's Stephen Innes.
Fall in OPEC oil supplies helps boost prices; US inventories down
Moody's: Oil demand, US shale will be strong this year
Report: Oil and gas can benefit from predictive analytics
Oil and gas companies can benefit from predictive analytics in terms of performance, risk management and safety, according to a Lloyd's Register report. "Demonstrating return on investment should prove less difficult as years of experience with, and evidence from, the technology's use accumulate," says Nial McCollam, Lloyd's Register chief technology officer.
The Permian Basin has changed the global power dynamic
Production growth in the Permian Basin has invigorated the US economy and altered geopolitics among major oil-producing countries, writes Justin Worland. "The vast new U.S. oil reserves have provided cover for the imposition of tough sanctions against nations like Iran and Venezuela, moves that at other times might have crippled global supply," he writes.
Mich. governor asks for assessment of oil pipeline agreement
Michigan Attorney General Dana Nessel has been asked by Gov. Gretchen Whitmer to review a state oil pipeline deal with Enbridge. The company plans to work with the governor and attorney general to ensure the pipeline is safe and sound, says Enbridge spokesman Ryan Duffy.
Colo. agency suggests regulators limit drilling in big game habitats
The number of oil and gas pads for parcels within big game habitats should be limited to one per square mile, wrote Colorado Parks and Wildlife in a letter to the federal Bureau of Land Management. These habitats should be excluded from lease sales until protections are in place, the agency says.
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