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Lubricant Maker Buys Former Shell Facility

May 8, 2014 11:00 am | by JEFF AMY, Associated Press | News | Comments

Lubricant maker CAM2 International has bought the former Shell facility in Mississippi and plans to restart operations in coming months, hiring about 35 employees.                             

Weigh In On Natural Gas & Oil Production Survey

May 8, 2014 10:27 am | by U.S. Energy Information Administration | News | Comments

As a result of the rapid growth and shifting location of U.S. natural gas and crude oil production, the U.S. Energy Information Administration (EIA) is proposing expanding the geographic coverage of its current monthly natural gas production survey and adding collection of state-level data on crude oil and lease condensate production.

A handful of the hundreds of creditors seeking compensation from the company at the center of West Virginia's chemical spill that deprived residents of usable tap water for days questioned top executives Tuesday in bankruptcy court.

Freedom Industries Offloads Related Business

May 7, 2014 10:50 am | by JONATHAN MATTISE, Associated Press | News | Comments

The now-bankrupt company at the center of West Virginia's chemical spill wants to sell what's left at its other site to a company tied to former executives.                        

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Siemens Shake Up Aims For Profit

May 7, 2014 10:47 am | by DAVID McHUGH, AP Business Writer | News | Comments

German industrial equipment maker Siemens AG has launched a sweeping restructuring to raise disappointing profits and better compete with peers such as General Electric.                     

Freeport-McMoRan Sells Eagle Ford Assets For $3.1B

May 7, 2014 10:45 am | by Associated Press | News | Comments

Freeport has been working on selling about $4 billion of its energy assets to help reduce debt and allow it to concentrate more on growth areas like the Gulf of Mexico.                      

Oil & Gas Spending Encourages Exploration & Development

May 7, 2014 9:54 am | by U.S. Energy Information Administration | News | Comments

Annual reports from 42 oil and natural gas companies that have reported data on upstream expenditures since 2000 show that spending on exploration and development throughout the world increased by 5% ($18 billion) in 2013, while spending on property acquisition fell by $17 billion. 

The economic reports this week were mixed with several reports coming in weaker than expected.

Chemical Production Continues To Climb

May 7, 2014 9:49 am | by American Chemistry Council | News | Comments

According to the American Chemistry Council, following an upwardly revised 0.5 percent gain in February, the U.S. Chemical Production Regional Index was 0.2 percent higher in March. Five out of the seven producing regions also saw production increases.

Adapting To Shareholder Environmental Concerns

May 7, 2014 1:00 am | by Patrick Daugherty, Foley & Lardner LLP | Articles | Comments

As concern about the environmental impact of manufacturing grows, increased shareholder activism has the potential to affect any company’s approach. Recent changes in how the U.S. Securities and Exchange Commission looks at shareholder proposals are giving activists a bigger voice, forcing manufacturers adapt to the new environment.

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The Enlightened Plant

May 6, 2014 1:00 am | by Peter G. Martin and Grant Le Sueur | Blogs | Comments

Information without context is just noise. The best way to filter the noise is to ensure that each plant function — operations, maintenance, safety, etc. — has clear, up-to-date information on how it can contribute most effectively to safe, successful operation. Although each role operates within multiple contexts, automation systems can offer useful assistance.

Exxon Mobil Corporation (NYSE:XOM) expects to start production at a record 10 major projects in 2014, adding new capacity of approximately 300,000 net oil equivalent barrels per day and contributing to profitable production growth

ExxonMobil Ahead Of Schedule At PNG LNG Project

May 5, 2014 2:28 pm | by ExxonMobil | News | Comments

Exxon Mobil Corporation announced the $19 billion PNG LNG project has started producing liquefied natural gas (LNG) in Papua New Guinea ahead of schedule.                            

Artek Acquires Galata Chemicals

May 5, 2014 2:26 pm | News | Comments

Artek Surfin and Aterian Investment Partners have announced that they have closed on their previous announced transaction whereby Artek has acquired Aterian's shares in Galata Chemicals.                         

Business Mediates Discussion Between Steel Plant & Environmental Regulators

May 5, 2014 10:37 am | by Associated Press | News | Comments

State business development officials led discussions with environmental regulators and a Detroit-area steel plant seeking to release higher amounts of toxins, according to a newspaper report.                     

Royal Dutch Shell said Friday it is selling its Australian gasoline stations and refinery to energy trader Vitol Group for 2.9 billion Australian dollars ($2.6 billion).

Shell Considers Huge Build In Pennsylvania

May 5, 2014 10:33 am | by Associated Press | News | Comments

Zinc production has shut down at a western Pennsylvania site where Shell Oil Co. is considering building a high dollar petrochemical plant.                                 

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ISM: Solid Numbers All Around

May 2, 2014 2:03 pm | by Jon Minnick, Associate Editor, Manufacturing Business Technology | Articles | Comments

Economic activity in the manufacturing sector expanded in April for the 11th consecutive month, and the overall economy grew for the 59th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

Chevron Profit Plunges

May 2, 2014 10:53 am | by Associated Press | News | Comments

Chevron Corp. says its net income fell 27 percent in the first quarter because of lower global oil prices and decreased production of oil as a result of bad weather.                      

Gas Production Halts At North Pole Refinery

May 2, 2014 10:31 am | by Associated Press | News | Comments

Flint Hills announced in February that it would close the facility because of the high costs of doing business in Alaska and its ongoing obligations from a chemical spill that has affected local water supplies.          

Manufacturers Expanded In April

May 1, 2014 11:04 am | by CHRISTOPHER S. RUGABER, AP Economics Writer | News | Comments

U.S. manufacturing grew faster in April than in March as exports picked up and factories accelerated hiring.                                                

Exxon Earnings Slip

May 1, 2014 10:48 am | by JONATHAN FAHEY, AP Energy Writer | News | Comments

Exxon Mobil said Thursday that its net income fell 4 percent in the fourth quarter as it produced less oil and natural gas and posted weaker refining results.                          

The Pros & Cons Of Outsourced vs. In-House Maintenance

May 1, 2014 1:00 am | by Mike Johnston, CRMP, Senior Consultant, T.A. Cook Consultants, Inc. | Articles | Comments

Outsourced contract maintenance is becoming an increasingly prevalent method for companies to maintain their assets. There are three approaches to maintenance management: In-house staffing, a hybrid of in-house and outsourcing, and complete outsourcing. How these may be applied and to what extent is driven by each company and their own unique needs.

Life Cycle Engineering Partners With OSIsoft

April 30, 2014 12:13 pm | News | Comments

Life Cycle Engineering (LCE), Inc., announced a partnership with OSIsoft to offer predictive analytics and intelligent asset management solutions for the oil and gas industry.                    

Royal Dutch Shell said Friday it is selling its Australian gasoline stations and refinery to energy trader Vitol Group for 2.9 billion Australian dollars ($2.6 billion).

Shell To Stay Out Of Russia

April 30, 2014 11:19 am | by TOBY STERLING, AP Business Writer | News | Comments

Royal Dutch Shell PLC says it will not be entering new investments in Russia anytime soon as tensions rise over the country's confrontation with Ukraine.                                 

The company that operates a southeastern Pennsylvania nuclear plant says it may decide within a year to shut down some of its 11 nuclear power stations if a way to make them profitable can't be found.

Exelon Buys Pepco Holdings For $6.83B

April 30, 2014 11:17 am | by Associated Press | News | Comments

Energy provider Exelon is buying Pepco Holdings Inc. for $6.83 billion to create a large electric and gas utility in the Mid-Atlantic region.                              

Oil Spill Damage Claim Found Phony

April 30, 2014 11:09 am | by KEVIN McGILL, Associated Press | News | Comments

A federal judge ruled Tuesday that a $357,000 payment in a damage claim from the 2010 BP oil spill must be repaid because the claim was fraudulent.                            

The Disconnect Between Equipment Purchasers And Factory Operators Costs Manufacturers Billions

April 30, 2014 1:00 am | by IHS Technology | Articles | Comments

A lack of communication, combined with a short-sighted fixation on holding down factory capital expenditures, is incurring massive energy-inefficiency costs for manufacturers during the lifetimes of their production facilities.

Oil & Grain Train Fight Continues

April 29, 2014 11:08 am | by JAMES MacPHERSON | News | Comments

Crude oil trains are not displacing grain shipments in the Dakotas and surrounding states, railroad officials assured North Dakota regulators Monday.                                 

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