By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Section 1. Policy. It is the policy of the executive branch to create opportunities for United States workers to compete for jobs, including jobs created through Federal contracts. These…
ILTA, working with AFPM and API, continues to seek a solution to the problem of upcoming out-of-service tank inspections, despite at- or near-capacity storage because of sluggish COVID-19 fuel demand. We, and the other groups, are working to have EPA allow in-service (keeping the product in the tank) inspections of tanks in lieu of emptying,…
August 3, 2020 - Offshore oil and gas driller Noble Corp said on Friday it had filed for chapter 11 bankruptcy protection to restructure debt, following a historic fall in energy prices. The company said it would swap all its bond debt, which accounts for more than $3.4 billion of its total debt, with equity…
July 23, 2020 - MHI Compressor International Corp. (MCO-I) has launched a new performance test stand for API 617 centrifugal compressor testing in Houston, Texas. The new test stand conducts PTC 10 Type 2 performance testing and mechanical running tests on small to midsize compressors for the oil and gas and other industries. The test…
I recently deleted my mailing list by accident and had to rebuild it again. If you do not receive the weekly email blast on Sunday night, please let me know. Thank you.
Economic disruptions are something that I have been watching ever since the great crash in oil back in 1982. I thought Houston was the center of the universe in those days. Everyone had jobs, money, friends, connections, and big BBQ parties. Then came the downturn, and people were stuck with no job, overly priced homes,…
July 31, 2020 - Exxon Mobil Corp reported a $1.1 billion loss for the second quarter on Friday, the first back-to-back quarterly loss for the U.S. oil giant in at least 36 years. Exxon stood out among its supermajor peers for not taking a large writedown on the value of its assets as the industry…
Jul 30, 2020 - In February 2020, U.K. security researchers discovered a vulnerability in free, open source, automation servers that would allow cybercriminals to amplify a Distributed Denial of Service (DDoS) attack by a hundred fold. For the Federal Bureau of Investigations (FBI), this was the final straw that led to a new warning about…
The EIA published its Weekly Petroleum Status Report. Here are some highlights. All items are in millions of barrels per day except inventories, which is billions total. Dates are defined as week ending averages, except utilization rate which is a four week ending average. The full report can be found here. Item 7/24/20 7/17/20 Refinery…
