Natural Gas
Petrotechnics’ survey reveals reality of risk in the global hydrocarbon industry
ABERDEEN, Scotland, UK — Petrotechnics, the developer of the hazardous industries’ first software platform for operational excellence, has released its 2017 Operational Risk and Process Safety Management survey results. Insights from more than 200 senior industry leaders reveal that only 6% believe their companies are fully up-to-date with their scheduled safety-critical maintenance.
Industry Metrics
US margins recorded solid gains as crack spreads for all products increased due to healthy domestic demand.
North American exodus at PetroChina sparks speculation of company shift
NEW YORK (Reuters) — A flurry of departures across the US and Canadian units of Chinese state energy firm PetroChina Co Ltd have sparked speculation that the oil trader is reducing its presence in North America, even though the company says it is committed to the region.
India's Reliance to boost profit, naphtha exports by using ethane
MUMBAI/SINGAPORE (Reuters) — India's Reliance Industries Ltd expects to increase operating profit and naphtha exports as it switches to cheaper ethane at its petrochemical projects, a company executive said on Wednesday.
Industry Metrics
High refinery runs contributed to high inventories, pressuring US product markets despite healthy summer driving season demand.
Business Trends: Ethylene production economics from optional feedstocks
The petrochemicals industry is witnessing enormous growth worldwide. Ethylene is produced by cracking a range of hydrocarbons. Naphtha is the main raw material used in European and Japanese crackers, while the US utilizes ethane as its primary feedstock.
Saudi Aramco to complete phase 1 of expanded gas pipeline by year end
KHOBAR, Saudi Arabia (Reuters) — Saudi Aramco will complete the first phase of an expansion of the main gas pipeline across Saudi Arabia by the end of this year, the company said in its weekly magazine, part of an effort to meet the kingdom's rising gas demand.
BP mulling IPO of US Midwest and Gulf Coast pipeline assets
(Reuters) — BP Plc is considering an initial public offering of its vast US Midwest and Gulf Coast pipeline assets, the company said on Tuesday, a move that would raise cash.
Saudi Aramco's 2016 oil reserves slip, gas up
KHOBAR, Saudi Arabia (Reuters) — Saudi Aramco said on Thursday its recoverable crude oil and condensate reserves slipped to 260.8 Bbbl at the end of 2016 but its daily crude oil production hit a new record of 10.5 MMbpd.
EIA: Even as renewables increase, fossil fuels continue to dominate US energy mix
Fossil fuels have provided more than 80% of total US energy consumption for more than 100 years. Since 1928, when consumption of natural gas surpassed that of biomass, the three fossil fuels—petroleum, natural gas, and coal—have been the most consumed fuels in the United States. In 2016, fossil fuels accounted for 81% of total US energy consumption, the lowest fossil fuel share in the past century.
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