Last updateFri, 20 Jul 2018 5pm


Senate Begins Debate on $34.3B Energy and Water Appropriations Bill

The Senate this afternoon will begin debate on a $34.3 billion fiscal 2010 energy and water spending bill as environmental groups press lawmakers to strip provisions they say will damage wetlands and fish habitat in Missouri.


Overall, the Senate bill, S. 1436, would provide $27.4 billion to the Energy Department, $5.4 billion to the Army Corps of Engineers and $1.1 billion to the Interior Department's Bureau of Reclamation.


Source: New York Times


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Heavy Crude Loses Its Shine for Refiners

U.S. refiners that turned to cheaper, dirtier crude oil in recent years in a bid to boost profits are seeing the strategy backfire as supplies of the oil dwindle.


In past years, many of the nation's refiners invested in pricey equipment to process so-called heavy crude, a more viscous grade of oil that usually contains more contaminants such as sulfur and nickel.


Source: Wall Street Journal


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Exxon Sees Natural Gas Potential with New Drilling Technique

Dozens of workers mill around a jumble of pipes and whirring equipment surrounding 10 natural gas wells operated by Exxon Mobil Corp.


At this well site in the desert, 80 miles west of the Rocky Mountains tourism hive, the men load cranes, operate pumps and monitor little red lines on computer screens.


Source: The Dallas Morning News


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South Korea’s Fuel Exports May Plunge 44% in Second Half

South Korea, Asia’s biggest exporter of oil products, may ship 44 percent less in the second half of this year after the global recession eroded returns from turning crude into diesel and jet fuel.


Fuel exports may fall to $10.6 billion between July and December from $18.9 billion a year earlier, the Ministry of Knowledge Economy said today in an e-mailed statement. Volume may drop 13 percent to 162 million barrels. Exports account for half of refiners’ revenue in South Korea.


Source: Bloomberg


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CNOOC Eyes Jumps in Oil and Gas Output, LNG Imports

State-owned China National Offshore Oil Corporation (CNOOC) aims to have 50 million tons per year of liquefied natural gas (LNG) receiving capacity by 2020, a company executive was quoted as saying over the weekend.


The leading Chinese LNG developer recently won approval to build its fourth LNG receiving terminal along China's coast, which would be able to take up 3 million tons of the fuel a year when it is ready in 2012.


Source: Reuters


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