Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels and Petrochemicals!
Natural gas, oil industry partners with groups to improve diversity
The US natural gas and oil industry is working with partners such as the Society of Hispanic Professional Engineers to build a more diverse workforce, writes American Petroleum Institute President and CEO Mike Sommers. These partnerships are being used to inform potential workers with STEM backgrounds about the many opportunities that exist in the industry, Sommers writes.
US buying a lot less crude oil from OPEC
Data from the Energy Information Administration show that OPEC crude oil deliveries to the US decreased to 1.5 million barrels per day in March, the lowest level since the same month in 1986. OPEC accounted for about 50% of US crude oil imports thorough the late 2000s, but the balance has since shifted, favoring non-OPEC producers including Canada, Mexico and Colombia.
AI could boost oil, gas revenues, exec says
The oil and natural gas industry could add up to $8 billion in revenue through the implementation of artificial intelligence for virtual operation models, remote monitoring, diagnostics and forecasting, says Greg Slater, general manager of Flutura Decision Sciences and Analytics, which developed the Cerebra artificial intelligence platform. "The main components making a field 'digital' will be the data management, the logic behind the workflows of the operations and the visualizations providing a coherent view of the oil field data," he says.
Big Oil backs carbon pricing at Vatican climate summit
At the end of a climate summit in Vatican, several oil giants signed a statement endorsing "economically meaningful" carbon pricing. The move comes in response to Pope Francis' call for climate action and a "radical energy transition."
Fossil fuels producers on federal land face higher royalties
The Office of Natural Resources Revenue has ordered fossil fuels leaseholders on federal and tribal lands to recalculate royalties dating back to Jan. 1, 2017 to comply with Obama-era valuation rules, despite opposition from trade groups. Oil, natural gas and coal producers will likely have to pay $72 million to $85 million a year in additional royalties to the government under these regulations.
Shell to spend up to $4B on chemicals annually
Shell will spend up to $4 billion on its chemical assets annually over the next decade, as part of a strategy to focus on "value over volumes." Chemical demand is expected to outpace GDP growth and will play a major role in reducing carbon intensity, says CEO Ben van Beurden.
HM3 Energy may build Ariz. plant
HM3 Energy is looking into expanding its biomass production process by building a plant in northern Arizona. The company converts wood and grain into a coal-like material that can be used in place of conventional coal.
Appalachian chemical hub a priority for Trump, says official
The Trump administration wants to develop a hub for chemicals and natural gas in Appalachia and has tasked the Energy Department, Transportation Department and other entities to figure out how, says Deputy Energy Secretary Dan Brouillette. The hub would strengthen national security by more evenly distributing the US' resources, he says.
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