Last updateFri, 18 Jan 2019 3pm


New MA Plant Continues Solar Plus Storage Trend

ENGIE North America and Holyoke Gas & Electric (HG&E) have unveiled Massachusetts’ largest utility-scale energy storage system. ENGIE Storage Services (formerly Green Charge) will operate the three-megawatt GridSynergy system, which will be fully integrated into the largest community solar farm in the state at a location adjacent to the former Mt. Tom Power Station. The former coal and oil-fired generation facility, 90 miles west of Boston, operated for more than 50 years and ceased operation in 2014. 

Keystone Pipeline Construction to Start in 2019

“The developer of the Keystone XL oil pipeline plans to start construction next year, after a U.S. State Department review ordered by a federal judge concluded that major environmental damage from a leak is unlikely and could quickly be mitigated,” the Associated Press  reports.

A spokesman for TransCanada says his company “has already started preparing pipe yards, transporting pipe and mowing parts of the project’s right-of-way in Montana and South Dakota, but TransCanada said in court documents it doesn’t plan start construction in Nebraska in the first half of 2019.” 

Oil Demand, Refining Growth to Peak in 2035

On Monday, China’s Unipec said that world oil demand “will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below 100 million bpd currently, as new technologies gradually eat into oil use,” Reuters  reports.

“Improved energy efficiency and technological changes, including the rise of renewables, meant global oil demand growth would slow in coming years before peaking in 2035, Unipec President Chen Bo told the annual Asia Pacific Petroleum Conference (APPEC).” 

Crude Oil Top U.S. Petroleum Export in First Half of 2018

Crude oil surpassed hydrocarbon gas liquids (HGL) to become the largest U.S. petroleum export, with 1.8 million barrels per day (b/d) of exports in the first half of 2018. U.S. crude oil exports increased by 787,000 b/d, or almost 80%, from the first half of 2017 to the first half of 2018 and set a new monthly record of 2.2 million b/d in June. Much of this crude oil went to destinations in Asia and Oceania such as China, South Korea, and India. Europe was the second-largest market for U.S. crude oil exports, led by Italy, the United Kingdom, and the Netherlands. Canada was the only major U.S. crude oil export destination where exports decreased, down slightly in the first half of 2018 compared with the same period in 2017. 

OPEC: U.S. Shale Oil Stealing Market Share

According to OPEC’s latest World Oil Outlook, total primary energy is set to expand by a robust 33% between 2015 and 2040, driven predominantly by developing countries, which see almost 95% of the overall energy demand growth.

Fast evolving trade patterns for crude oil and refined products will continue to evolve, driven initially by additional flows from the U.S. and Canada, and in the long-term by the Middle East, mostly attributed to increasing imports to the Asia-Pacific. 

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