Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels and Petrochemicals!
Chemical companies are leading the way on advanced recycling
Eastman Chemical, LyondellBasell, Americas Styrenics and other chemical companies are developing advanced recycling technologies, writes Rob Benedict of American Fuel & Petrochemical Manufacturers. "The petrochemical industry, and the full force of its engineering expertise and creative problem-solving, are committed to achieving those breakthroughs and ensuring a more sustainable future," he writes.
35 bioenergy projects to share $75M in Energy Dept. grants
The US Department of Energy announced it had awarded a total of $75 million in grants to 35 bioenergy projects focused on research and development that include enhanced biomass or waste resources divided into 10 topic areas. "The main goal of DOE's bioenergy R&D is to produce affordable biofuels that are compatible with existing fueling infrastructure and vehicles across a range of transportation modes," said Energy Secretary Rick Perry.
AI helps pave the way to operational excellence in oil, gas
Oil and natural gas majors, including ExxonMobil, Royal Dutch Shell and Total, are using artificial intelligence to streamline operations, reduce costs, predict equipment malfunctions and boost hydrocarbons production. Exxon, for example, has teamed up with Microsoft to deploy AI in the Permian and plans to invest roughly $1 billion annually in AI research.
API speaks out against EPA's plan to expand biofuel requirements
The Environmental Protection Agency's decision to boost biofuel blending requirements for 2020 and 2021 is "arbitrary," lacks a statutory basis and would generate volatility in the renewable credit market, said the American Petroleum Institute's Frank Macchiarola. "We don't want a 'deal,' we want effective solutions that protect consumers and provide consistent regulatory certainty," Macchiarola said Thursday, as it urged the Trump administration to ditch the proposal.
US production softens impact of Middle East events on oil prices
CME Group Chief Economist Blu Putnam says a surge in US oil exports are softening price shocks related to events in the Middle East. He cites the market's ability to quickly recover from a price spike following the September drone attack on a Saudi production facility.
Depressed prices cause concern for natural gas producers
A 30% decline in natural gas prices from year-ago levels due to oversupply is leaving gas producers with the options of risking the loss of market share due to scaling back drilling or exacerbating the glut by maintaining activity levels. "It is going to take a cold winter and more exports to keep natural-gas prices out of the cellar," says RBN Energy CEO Rusty Braziel.
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