Friday, May 10, 2019
Energy, Petrochemicals and Plastics 16
1 2018 was likely the most profitable year for U.S. oil producers since 2013 – Today in Energy
https://www.eia.gov/todayinenergy/detail.php?id=39413
Net income for 43 U.S. oil producers totaled $28 billion in 2018, a five-year high. Based on net income, 2018 was the most profitable year for these U.S. oil producers since 2013, despite crude oil prices that were lower in 2018 than in 2013 on an annual average basis.
2 The Shale Boom Is About To Go Bust
https://oilprice.com/Energy/Crude-Oil/The-Shale-Boom-Is-About-To-Go-Bust.html
The shale industry faces an uncertain future as drillers try to outrun the treadmill of precipitous well declines.
3 Pemex to build refinery after outside firms balk at price tag: Lopez Obrador
https://www.reuters.com/article/us-mexico-pemex-idUSKCN1SF1UW
Lopez Obrador told reporters at his regular morning news conference that the firms also could not meet the government’s three-year construction time frame, but Pemex could.
4 The Benefits Of Free Trade With Mexico Are Very Real For The Energy Industry
https://www.forbes.com/sites/michaellynch/2019/05/06/the-benefits-of-free-trade-with-mexico-are-very-real-for-the-energy-industry/
Over the last 25 years trade with Canada and Mexico has quadrupled, almost reaching $1.3 trillion and supporting 14 million American jobs through our trading partners. The U.S. energy benefits provided through this agreement makes even more vital that we continue this trade partnership through the U.S.-Mexico-Canada-Agreement (USMCA).
5 From Paris to Omaha: How Occidental CEO out-maneuvered Chevron in Anadarko bid
https://www.reuters.com/article/us-anadarko-petrol-m-a-occidental-hollub-idUSKCN1SF1TW
Occidental Petroleum chief executive Vicki Hollub was caught off guard when U.S. oil giant Chevron swooped in last month with a $33 billion offer to buy Anadarko Petroleum, the oil and gas exploration and production firm she had been wooing for nearly two years.
6 Could the Plastics Industry Become Collateral Damage in a Trade War?
https://www.ptonline.com/blog/post/could-the-plastics-industry-become-collateral-damage-in-a-trade-war
The plastics industry is a global one, and at this time, it’s caught in the transcontinental crossfire of a slow simmering trade war.
7 Plastics resin pricing: Plastics Exchange
https://www.plasticstoday.com/resin-pricing/weekly-resin-report-spot-and-contract-resin-prices-rising-across-board/160564858260755
Prices for both polyethylene (PE) and polypropylene (PP) firmed at least a penny last week, with some extra strength seen in low-density (LD) PE for film. Buyers sought to procure well-priced material in the face of a burgeoning bull run and were more aggressive than sellers, who generally sat back awaiting orders after raising prices about $0.02/lb to start the month of May, reports the PlasticsExchange (Chicago) in its Market Update.
8 DowDuPont to Complete Spin-Off of Companies
https://www.ptonline.com/news/dowdupont-to-complete-spin-off-of-companiesFollowing last month’s spin-off of a ‘new’ Dow, the spin-off of an independent DuPont materials company and the new Corteva agriculture firm will take place June 1.
9 Royal Dutch Shell to invest $ 2 billion per year in Brazil
https://www.reuters.com/article/us-royal-dutch-shell-brazil-idUSKCN1SF18A
Royal Dutch Shell PLC has plans to invest about $2 billion per year in Brazil through 2025, CEO Ben van Beurden told newspaper Valor Econômico in an exclusive interview.
10 ExxonMobil to devote $100 million for research on lower-emissions technologies
https://www.offshoreenergytoday.com/exxonmobil-to-devote-100-million-for-research-on-lower-emissions-technologies/
ExxonMobil said on Wednesday that the company would develop the new technologies with the U.S. Department of Energy’s National Renewable Energy Laboratory and the National Energy Technology Laboratory.
11 There’s Tremendous Room For Growth In Offshore Oil & Gas
https://oilprice.com/Energy/Energy-General/Theres-Tremendous-Room-For-Growth-In-Offshore-Oil-Gas.html
The Offshore Technology Conference (OTC) in Houston, Texas celebrates its 50th birthday this week, begging the question – what will the next 50 years hold for the offshore market?
12 Majors Driving Rise in Global Discoveries
https://www.rigzone.com/news/majors_driving_rise_in_global_discoveries-07-may-2019-158775-article/
If the rest of 2019 continues at a similar pace, this year will be on track to exceed last year’s discovered resources by 30 percent.
