Aug 2017

The IAEA’s LEU Bank opens in Kazakhstan (30 August 2017): On the 29th of August 2017, the eighth anniversary of International Day against Nuclear Tests, the International Atomic Energy Agency (IAEA) opened the Low Enriched Uranium (LEU) bank in Kazakhstan. The bank will act as an assurance plan for nuclear reactors around the world, ensuring that should there be exceptional circumstances affecting the uranium market, a source is still available. (more about ...)

Hurricane Harvey shuts 13% of refining capacity in the US, fuel prices surge (28 August 2017): HOUSTON, Aug 28 (Reuters) - US fuel prices surged on Monday as two more Gulf Coast refiners cut output and a third considered reductions, leaving more than 13% of the country's refining capacity offline after Tropical Storm Harvey flooded plants and shut seaports. (more about ...)

Could Bitcoin Provide A Hedge Against Venezuela’s Failing Oil Industry? (12 August 2017): B

Equis said to look for a buyer of is $4bn renewables portfolio (12 August 2017): Equis Energy, the Singapore-based developer of power projects, has asked for binding bids for its US$4 billion renewable energy business by late-September, people with knowledge of the matter said. (more about ...)

Global Nuclear Power Capacity Could Double By 2050 (10 Aug 2017): 

S.Korea's GS Caltex shuts heavy oil upgrading unit after fire (10 August 207): SEOUL (Reuters) — GS Caltex, South Korea's second-largest oil refinery, said it has shut a heavy oil upgrading unit after a fire mishap on Thursday. The blaze, which is now under control, broke out in the heavy oil upgrading unit or Vacuum Residue Hydrocracker (VRHCR), at GS Caltex's Yeosu refinery, located in southwest of Seoul. (more about ...)

Here Are Two More Boosts From Trump For Natural Resources (9 August) - Policy across the U.S. is changing fast since the election of President Trump. And natural resource companies have already begun to benefit from the shift. Now two more major measures have just come down — which could open big opportunities for mining and energy in the U.S. (more about ...)

Fluor awarded contract for Petronas isononanol chemical plant in Malaysia (8 August 2017): IRVING, Texas — Fluor Corporation announced that it was awarded an engineering, procurement and construction management (EPCM) contract by Petronas Refinery and Petrochemical Corporation Sdn. Bhd. for an isononanol plant located in Pengerang, Johor, Malaysia. Fluor will book the undisclosed contract value in Q3 2017. (more about ...)

Amec Foster Wheeler wins FEED contract for Total's Donges refinery (7 August 2017): LONDON — Amec Foster Wheeler announces that it has been awarded a Front-End Engineering Design (FEED) contract by Total Raffinage France, a subsidiary of Total, the French multinational integrated oil and gas company. (more about ...)

South Korea's SK E&C signs $1.6 B deal to modernize Iran oil refinery (7 August 2017): SEOUL (Reuters) — South Korea's SK Engineering & Construction said on Sunday it had signed a deal with Iran's Tabriz Oil Refining Company worth $1.6 B to renovate the Iranian company's refinery facility. (more about ...)

Is This The Future Of Electricity? (5 August 2017): BScientists have turned wood into an electrical conductor by making its surface graphene. Chemist James Tour of Rice University and his colleagues used a laser to blacken a thin film pattern onto a block of pine. The pattern is laser-induced graphene (LIG), a form of the atom-thin carbon material discovered at Rice in 2014. (more about ...)

Trump Notifies UN of Paris Exit While Keeping Option to Return (5 August 2017): By Ari Natter - The Trump administration began the formal process to withdraw from the Paris climate accord, but says it’s willing to "re-engage" if terms more favorable to the U.S. are met. (more about ...)

Petrofac JV awarded $2-B refinery contract in Oman (4 August 2017): (Reuters) — Petrofac Ltd said Oman's Duqm Refinery and Petrochemical Industries awarded a $2 billion contract to the British oilfield services company's 50:50 JV with Samsung Engineering, sending its shares up as much as 9.5%. (more about ...)

Jacobs to acquire CH2M to create $15 B global solutions provider (3 August 2017): DALLAS & DENVER — Jacobs Engineering Group Inc. and CH2M HILL Companies Ltd. announced that they have entered into a definitive agreement under which Jacobs will acquire all of the outstanding shares of CH2M in a cash and stock transaction with an enterprise value (EV) of approximately $3.27 B, including approximately $416 MM of CH2M net debt. (more about ...)

Yamal Lng Tanker Christophe Resized
Photo courtesy of Total.

LNG tanker begins first voyage through Northern Sea Route (2 August 2017): MOSCOW — The first Arc7 ice-class LNG tanker Christophe de Margerie has entered the Kara Sea and has started its first LNG cargo voyage through the Northern Sea Route (NSR). The subleased tanker will go through the NSR without the escort of icebreakers and will deliver LNG from Norway to South Korea in 15 days. (more about ...)

Who needs $100 oil? Majors seen making more cash at $50, Goldman says (2 August 2017): By DAN MURTAUGH - SINGAPORE (Bloomberg) -- Oil majors are raking in more cash now than they did in the heyday of $100 oil, according to Goldman Sachs Group Inc. (more about ...)

BP breaks even in tough environment after debt hits record (1 August 2017): By RAKTEEM KATAKEY - LONDON (Bloomberg) -- BP Plc moved to calm investor concerns after debt rose to a record, saying lower oil-spill payments for the rest of the year and funds from asset sales will ease the burden. “This year debt is going up exactly in line with payments going out for Macondo,” CFO Brian Gilvary said Tuesday by phone. “And it will come back down commensurately in the second half of the year when disposal proceeds come in.” (more about ...)