Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels and Petrochemicals!
N.D. courting chemical companies, says official
The administration of North Dakota Gov. Doug Burgum is talking to a short list of petrochemical companies in hopes of bringing a multi-billion dollar project to the state, according to Shawn Kessel, deputy director of North Dakota's Commerce Department. The state is reviewing its tax incentives "and there are certain areas we could improve," he said, although no details have been released.
Ammonia seen as transportable source of renewable fuel
Various projects are examining ammonia produced by renewable energy as a possible source of clean propulsion fuel. Ammonia can serve as a more easily transported form than liquid hydrogen for conversion into energy that can be used in fuel cells, gas turbines or combustion engines.
US oil market sets new Sept. record
The latest data from the American Petroleum Institute show that domestic petroleum consumption rose 3.5% year-on-year to 20.8 million barrels in September, setting a record for the month. Oil production also hit a 12.4-million-barrel record during September, while exports climbed by 100,000 barrels per day from August to 8.2 million bpd in September.
Competition heats up in US LNG market
Small US liquefied natural gas developers are trying to compete in an overcrowded market dominated by bigger companies like Cheniere Energy and ExxonMobil, but securing financing for smaller projects has been an uphill battle so far because the industry is shifting away from long-term contracts. "I'm not going to pick a winner or loser here, but I don't think there is enough support for all of these projects by any means," said S&P Global Platts Analytics' Rich Redash.
EIA forecasts record-breaking Gulf of Mexico oil production
After reaching an all-time high of 1.8 million barrels per day in 2018, oil production in the US Gulf of Mexico is projected to continue its record-breaking streak, averaging 1.9 million bpd in 2019 and 2 million bpd in 2020, according to the Energy Information Administration. However, the region's share of total US crude production will likely be just 15% this year and next, down from 23% in 2011.
Rystad sees flood of US exports on the horizon
US crude exports could nearly double from 2.9 million barrels per day currently to almost six million BPD in 2022, according to Rystad Energy. "Crude exports will grow on the back of new infrastructure coming online in Corpus Christi, Texas, and as international crude buyers ramp up efforts to diversify their import sources after the attacks on oil facilities in Saudi Arabia and overall rising tensions in the Middle East," said Rystad analyst Paola Rodriguez-Masiu.
Report: US to drive LNG capacity growth through 2023
The US is expected to lead in liquefaction capacity growth between 2019 and 2023, accounting for about 73% of new global capacity additions, according to a report by GlobalData. The planned startup of several liquefied natural gas projects, including the 19.4-million-short-ton-a-year Rio Grande terminal in Texas, should boost the country's LNG capacity by 173 million short tons per year by 2023.
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