Royal Dutch Shell PLC will move forward with drilling off Alaska's northwest coast if it can obtain permits it needs and drill safely, its chief executive officer said Thursday. Speaking in London on the company's fourth-quarter earnings, Ben van Beurden said Shell will move forward with its plan to use two drill vessels in the Chukchi Sea, subject to getting permits and legal clearance.
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In a sign of the impact on the oil sector of the slump in energy prices, Royal Dutch Shell Plc said Thursday it plans to cut spending by $15 billion over the next three years amid a drop in earnings. Shell is the first major energy company to report earnings, so its quarterly update is watched for hints on the performance of the wider industry.
The inter-connectedness, expansive footprints, and co-dependency within the process industries, and the dynamic supply chain interactions in an inter-enterprise network, form the basis for these “10 Top Resolutions” to building a better Supply Chain Operating Network in 2015 and beyond.
Corrie Banks and Kleo Landucci, executives at logistics services providing companies, can’t stress enough how they’d like to see fellow females continue to enter the supply chain workforce and break the stereotype of it being “a man’s world.”
The unanimous ruling from the high court represents a victory for M&G Polymers USA, which first sought to require retiree contributions to health coverage in 2006 after purchasing the plant six years earlier. It also tightens the standard for collective bargaining agreements that do not specify terms for lifetime benefits.
Changes to DuPont's portfolio and improved productivity boosted fourth-quarter earnings and helped to offset the negative impact of a stronger dollar. The company, based in Wilmington, Delaware, boosted its estimated costs savings from operational redesigns by $300 million, to at least $1.3 billion by 2017.
Domestic chemical production last month was up compared to the end of 2013 as indicators continue to show a healthy chemical market, according to the American Chemistry Council. Recent ACC analysis shows that chemical output in December was up 5.2 percent over December 2013, with increases reported in each of the seven geographical regions tracked by the industry group.
Royal Dutch Shell and Qatar Petroleum’s (QP) joint announcement last week that they have cancelled their planned $6.5 billion Qatari petrochemical project, called Al-Karaana, which will significantly change the global supply and demand balances for mono-ethylene glycol (MEG) and polyethylene terephthalate (PET) resins.
Police chief Art Walgren knew how much the oil boom had changed this once-sleepy town when he spotted something that would have been unheard of not long ago: license plates from Sinaloa, Mexico, home to one of the world's most violent drug cartels.
A year after an explosion ripped apart the JNS Biofuel plant, the rebuilt plant in New Albany has all the permits it needs to reopen. However, state and local officials don't know when that will happen. TJN Biofuel LLC's president and owner, Steve Bolin, has not given official notice yet.
The company, which had not been named as of Monday, will have combined sales of $15.7 billion and its board will include eight directors from Rock-Tenn and six directors from MeadWestvaco. Shares of both companies hit all-time highs late last week.
In the analysis from D.C.-based liberal think tank the Economic Policy Institute, author Robert E. Scott tabs the wage premium for manufacturing jobs at $1.78 per hour, calling the industry "a particularly important provider of jobs with good wages for workers without a college degree."
Sea-Land Chemical Co. is celebrating its 50th anniversary. A supplier of chemicals to the lubricants industry, Sea-Land has grown into an international, employee-owned specialty chemical distributor. Today, the firm has clients on three continents and over $100 million in annual revenue.
A gas drilling watchdog group that says it was characterized in Pennsylvania security bulletins as a potential terror threat has settled its lawsuit against the state. The settlement terms between Pennsylvania and the Gas Drilling Awareness Coalition haven't been released.
A federal grand jury in Beckley handed up a superseding indictment on Wednesday against former Freedom President Gary Southern and three other former executives. The indictment charges Southern with a new count of fraud by interstate commercial carrier and restates the original indictment's charges against him and the others.
The 26,000 square foot facility in Martinsville, Henry County, is planned to be operational in the fourth quarter of 2015. The company produces a patented range of hard wearing coatings which significantly increase the life of critical metal parts operating in abrasive, erosive, corrosive and chemically aggressive environments.
The continued decline in the prices of crude oil is wreaking havoc in the oilfield services sector, where three industry giants have announced thousands of job cuts in recent days. Projections for 2015 suggest the number of oil rigs operating on U.S. soil could fall dramatically as prices for crude oil remain low.
President Barack Obama says the U.S. should aim higher than one single pipeline as it works to modernize its infrastructure. Obama wasn't referencing the Keystone XL pipeline by name in his State of the Union address. But he alluded to it by asking Congress to look beyond just one oil pipeline.
While the economy is in the process of recovering from the recent recession, it is essential that the manufacturing sector continues to grow stronger. Eighty-three percent of companies indicated a moderate to serious shortage of skilled production workers and 69 percent of companies expect this shortage to worsen over the next three to five years.
Prosecutors say 52-year-old Thomas Schropp was in financial trouble and hoped to gain around $4 million in insurance proceeds for the destruction of his PK Manufacturing plant. It burned down on Nov. 20, 2008. The Omaha World-Herald says the trial began Tuesday.
The Obama administration's new guidelines regarding relations with Cuba have taken effect, potentially opening the Caribbean nation to a wide range of American products. Analysts warn, however, that companies looking to expand into Cuba should proceed with caution after more than five decades of separation between the two countries.
Just days after announcing job cuts citing uncertainty in the global oil industry, Schlumberger Ltd. announced a deal to purchase a minority stake in one of Russia's leading energy companies. Analysts largely lauded the deal, which further links companies that have worked together since 2011 and signals Schlumberger's intent to grow in the region.
Many Europeans have voiced concerns that the new agreement will lower the EU’s standards for environmental and food safety, and a new report by the Center for International Environmental Law takes aim at just that — saying that proposals for TTIP could translate into more pesticides making their way into EU food markets.
Ahead of his State of the Union speech Tuesday, President Obama has announced that he will call on Congress to require companies to give workers up to seven days of paid sick leave a year. The initiative will be known as the Healthy Americans Act and will affect all companies with 15 or more employees.
Puerto Rico is still considered one of the world's leading centers for pharmaceutical manufacturing, but the sector has been shrinking. The U.S. territory has been offering incentives for manufacturing plants to expand and is pushing to diversify its manufacturing base by seeking aerospace and information technology companies.
Agriculture business giant Monsanto Co. said Thursday it received approval from the Department of Agriculture for new cotton and soybean seeds designed to be used with a new herbicide formula. Monsanto's business is built on genetically modified seeds and herbicide.
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