02222018Thu
Last updateThu, 22 Feb 2018 2pm

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BP Official: Alaska Natgas Pipeline Prospects Dim

Prospects for a pipeline to ship abundant North Slope natural gas reserves to U.S. markets are dim due to free-falling energy prices, the overall economic collapse and the surprising emergence of unconventional energy alternatives such as shale gas, a senior BP official told an industry audience Friday.

"It's not a pretty story right now in terms of North American natural gas markets," Brian Frank, president of BP Energy Co and BP's North America Gas and Power, said at the annual conference held by the Alaska Support Industry Alliance.

Source: Reuters

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HHS and Novartis to Build U.S. Manufacturing Facility for Cell-Based Influenza Vaccine

The U.S. Department of Health and Human Services (HHS) has announced a $487M multiple year contract with Novartis Vaccines and Diagnostics, Inc., to build the first U.S. facility to manufacture cell-based vaccine for seasonal and pandemic flu.

In a release, the group noted:

Because cell-based influenza vaccine can be made faster and in greater quantities than traditional vaccine, the new facility is expected to increase the U.S. capacity to make pandemic influenza vaccine by at least 25 percent.

Source: Department of Health and Human Services

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Investors Beware: Oil, Gas Scams on the Rise

From 1999 to 2005, Granbury, TX resident James Retz and his Big Rock Ranches, Big Rock Land and Exploration and other companies sold tens of millions of dollars worth of oil and gas investments from a southwest Fort Worth office.

Early investors received financial statements and newsletters extolling the production of the properties, accompanied by royalty checks.

Source: Ft. Worth Star-Telegram

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Aramco, Total Eye $1.2 bln Cost Cut on New Refinery

Saudi Aramco and Total want bidders for a new joint venture refinery to chop at least $1.2 billion from costs due to the global economic downturn, a spokesman for the venture said on Sunday.

"I think we will be saving more than 10 percent on the cost," Khalifa al-Lahdan, public relations head for the Saudi Aramco Total Refining and Petrochemical Co, told Reuters by telephone. "It will save a lot of money."

Source: Reuters

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Braskem to Restart Ethylene Unit at Triunfo Petrochemical Complex by Month's End

At the end of the month, Braskem will begin the restart process of a naphtha cracker at the Triunfo Complex in Rio Grande do Sul in southern Brazil. In December 2008, the chemical company shut down two naphtha cracker units, including the 720,000-metric-ton-per-year Cracker 1 at Triunfo because of a reduction in demand for ethylene products domestically and internationally.

Source: Industrial Info Resources

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