Last updateThu, 23 May 2019 6pm


Executive Orders to Aid Energy Infrastructure Projects

This week in Houston, President Trump signed two executive orders designed to speed up energy infrastructure projects. “The first order takes aim at oft-overlooked laws and regulations that have plagued the permitting process for energy infrastructure projects,” writes NAM’s Andrew Clark.

“The second order would clarify permitting for cross-border energy infrastructure and is intended to prevent future projects like the Keystone XL Pipeline from getting caught up in years of litigation, reviews, and delays.”

Chevron Agrees to Acquire Anadarko

Chevron has entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share. The total enterprise value of the transaction is $50 billion.

This deal will make Chevron “the largest producer in the dusty plains of the Permian Basin by giving it control of an oil-rich area twice the size of Los Angeles,” Bloomberg reports.

IEA Sees Mixed Signals for Oil in 2019

The huge increase in oil production in the second half of 2018 has reversed following the implementation of the new Vienna Agreement and the increasing effectiveness of sanctions against Iran and Venezuela. Amongst the analyst community there is an extraordinarily wide divergence of view as to how strong growth will be in 2019. The International Energy Agency (IEA) maintains a forecast of 1.4M b/d but accepts that there are mixed signals about the health of the global economy, and differing views about the likely level of oil prices.

Workers Claim KMCO Knew of Valve Leak Before Fatal Fire

Three contractors who worked at the KMCO plant in Crosby, TX when a chemical fire claimed the life of one and injured ten others say that the company knew about a valve leak before the deadly accident occurred on April 2.

"KMCO is working in close cooperation with the Fire Marshal, federal Chemical Safety Board and OSHA investigators to determine the accurate timeline and cause of last week's tragic incident," John C. Foley, president and CEO of KMCO, said in a written statement.

Petrochemical Industry Sees Challenges Ahead

“Petrochemical executives are used to grappling with economic risk, but they haven’t faced public outcry over their products in some time,” Chemical & Engineering News reports.

“Now the specter of plastic waste, especially plastic contaminating the world’s oceans, is haunting them. The public is calling for bans on single-use plastics such as shopping bags, straws, and cutlery.”

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