Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels and Petrochemicals!
Global spare oil capacity in US hands after Saudi outage
An attack on Saudi oil-production facilities has left the US holding a crucial supply buffer, as major producers such as Venezuela and Iran are limited by US sanctions. The price of Brent crude surged as much as 19.5% in the aftermath of the attack, and US oil futures were up 8% this morning.
Australian project converts sugarcane, cotton into usable materials
The federal government of Australia will fund a midstage Queensland University of Technology project that converts sugarcane and cotton biomass into animal feed, fuels and bio-based plastics. Sugarcane waste is being converted into jet fuel, while chemicals produced from the biomass are being used to manufacture plastic bottles for beer and soft drinks.
Tellurian signs historic LNG deal with India's Petronet
Indian Prime Minister Narendra Modi's visit to Houston last week set the stage for one of the biggest US liquefied natural gas deals in history, signed between Houston-based LNG firm Tellurian and India's Petronet LNG. Under the agreement, Petronet will pay $2.5 billion for a stake in Tellurian's proposed Driftwood LNG project in Lake Charles, La., in exchange for access to up to 5.5 million tons of LNG per year over the project's lifespan.
Tropical storm affects US Gulf Coast energy facilities
Floodwaters and continued rain from Tropical Storm Imelda have interfered with energy operations along the US Gulf Coast, prompting the shutdown of the Beaumont, Texas, ship channel, an oil pipeline and several terminals. Meanwhile, several refineries, including ExxonMobil's Beaumont plant and Valero Energy's Port Arthur facility, have reduced production.
Fossil fuels continue to dominate US energy usage
Fossil fuels accounted for 79% of US energy production and 80% of US energy consumption in 2018, according to the Energy Information Administration. Petroleum remains the most traded energy product in the US, making up 86% of energy imports and 67% of energy exports last year.
Enbridge's Line 3 oil pipeline scores legal victory
Enbridge has dodged additional legal trouble after the Minnesota Supreme Court on Tuesday rejected environmental and tribal challenges to the embattled Line 3 oil pipeline replacement, clearing the way for state regulators to proceed with the permitting process. The American Petroleum Institute welcomed the decision, calling Line 3 the "most studied pipeline project in state history."
EIA: US shale to set another output record in October
US shale oil production is projected to grow by 74,000 barrels per day in October to a fresh record of 8.843 million barrels per day, according to the Energy Information Administration. The Permian Basin will see a 71,000 bpd increase to a high of 4.485 million bpd, while Bakken Shale oil output is expected to increase by roughly 2,000 bpd to hit a record 1.471 million bpd.
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