11152018Thu
Last updateThu, 15 Nov 2018 4pm

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Global Refining Outlook Improves

According to Moody’s, “the outlook for the global refining and marketing sector appears to be positive over next 12 to 18 months,” Forbes reports.

Moody’s has changed its outlook from stable to positive “reflecting a strong earnings growth potential for the sector on the back of higher distillate margins and favorable crude differentials.” 


EPA Revamping Rules for Oil & Gas Industry

The EPA has proposed targeted improvements to the 2016 New Source Performance Standards for the oil and gas industry that streamline implementation. This oil and gas targeted improvements package is expected to save up to approximately $484 million in regulatory costs from 2019 – 2025 or $75 million annually.

The proposal is “aimed at controlling emissions of methane and volatile organic compounds from new and heavily modified sources,” E&E News  reports

U.S. Now Largest Global Crude Oil Producer

The U.S. likely surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer earlier this year, based on preliminary estimates in the Energy Information Administration’s (EIA) Short-Term Energy Outlook (STEO). In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the U.S. surpassed Russia in crude oil production for the first time since February 1999.

Although EIA does not publish crude oil production forecasts for Russia and Saudi Arabia in STEO, EIA expects that U.S. crude oil production will continue to exceed Russian and Saudi Arabian crude oil production for the remaining months of 2018 and through 2019. 

SF Receives $699M from EPA for Wastewater Upgrades

The EPA has awarded a $699 million low-interest loan to the San Francisco Public Utilities Commission (SFPUC) to help finance its innovative Southeast Treatment Plant Biosolids Digester Facilities Project.

Under the EPA’s Water Infrastructure Finance and Innovation Act (WIFIA), program offering as much as $5.5 billion in loans, SFPUC received the largest amount issued to date to fund approximately half of the $1.2 billion biosolids and resource recovery project. 

California Constructing $126M Wastewater Treatment Plant

The East Valley Water District in Highland, CA has selected Balfour Beatty and Arcadis as the design-build partner to lead the design and construction of the $126 million Sterling Natural Resource Center (SNRC). The state-of-the-art wastewater treatment facility will produce water to recharge the natural groundwater aquifer, with a design focused on reliability, efficiency and flexibility to initially treat 8 million gallons of water per day. 

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