OIL & MINING : View Posts

TREVOSE, PA. –GE (NYSE: GE) today announced two new products to help refineries process incompatible crude oil blends. Unlike many traditional asphaltene dispersants, GE’s new EmBreak* 2167 and EmBreak 2168 crude stabilizers are ashless and do not contain any metals that could contribute to catalyst contamination or equipment fouling.

These new oil-based crude stabilizers are a part of GE’s patent-pending technology that can be used specifically in refinery desalters and other oil and water separation equipment. They are part of GE’s family of EmBreak emulsion breakers, which offer a full suite of products that span the entire range of crudes, delivering superior desalter performance and potentially reducing total costs of operation.

Traditional asphaltene dispersants can contain metals, such as phosphorous or calcium, which can act as a catalyst to foul downstream equipment. Fouling is the accumulation of unwanted material on solid surfaces that impedes the function of the equipment. GE’s new EmBreak 2167 and 2168 crude stabilizers are ashless, do not contain metals and outperform existing phosphorus and calcium-based compounds tested by GE. Being ashless and metal free is a benefit to downstream units and prevents fouling and poisoning.

“Being able to process discounted crude oils depends on the other crudes that they are blended with, and that is where EmBreak 2167 and 2168 come into the picture. GE developed a testing methodology to predict crude oil incompatibility and created innovative chemical crude stabilizer solutions to help successfully process these incompatible crude oils,” said Buzz Barlow, global general manager, hydrocarbon process—water and process technologies for GE Power & Water.

GE’s new crude stabilizers help refineries more effectively anticipate and respond to processing issues associated with opportunity crudes and their incompatibility. Incompatible crudes blends may precipitate asphaltenes or other heavy molecular weight aliphatics resulting in uncontrolled emulsions, which can cause poor effluent brine quality as well as deteriorating salt and solids removal efficiency. Some of the processing issues and risks associated with opportunity crudes include:

Poor salt removal efficiency—higher corrosion of asset risk.
Poor effluent brine quality—regulation risk as well as higher reprocessing costs to separate oil, water and solids.
Poor solids removal efficiency—higher fouling risk and potential erosion of downstream equipment.
GE’s new Embreak 2167 and 2168 coupled with GE’s innovative testing capability can help refineries more effectively anticipate and respond to processing issues associated with opportunity crudes.

*Trademark of the General Electric Company; may be registered in one or more countries.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

About GE Power & Water
GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar; biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world’s most complex challenges related to water availability and quality. Power & Water’s six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE’s largest industrial business.

HOUSTON –ExxonMobil Chemical Company announced today that it has started construction of a multi-billion dollar ethane cracker at its Baytown, Texas, complex and associated premium product facilities in nearby Mont Belvieu. This project, and major investments ExxonMobil has made to develop oil and natural gas resources in the United States, including the merger with XTO Energy, demonstrates the company’s continuing commitment to American economic growth and job creation.

The steam cracker will have a capacity of up to 1.5 million tons per year and provide ethylene feedstock for downstream chemical processing, including processing at two new 650,000 tons per year high performance polyethylene lines at the company’s Mont Belvieu plastics plant.

“The project is made possible in large part by abundant, affordable supplies of U.S. natural gas for energy and chemical feedstock,” said Steve Pryor, president of ExxonMobil Chemical Company. The chemical industry and other industrial sectors account for nearly 30 percent of U.S. natural gas demand. “Shale development has provided U.S. chemical producers a double benefit as an energy source and as a key raw material to make plastics and other essential products, creating jobs and economic activity across the value chain.”

The project will employ about 10,000 construction workers, create 4,000 related jobs in nearby Houston communities and add 350 permanent positions at the Baytown complex. It is expected to increase regional economic activity by roughly $870 million per year and generate more than $90 million per year in additional tax revenues for local communities.

Contracts have been awarded for construction, which will begin immediately. Contracts have been awarded to Linde Engineering North America, Inc. and Bechtel Oil, Gas, and Chemicals, Inc. to build olefins recovery units at the ExxonMobil Baytown Olefins Plant. Mitsui Engineering & Shipbuilding Co, Ltd. and Huertey Petrochem S.A. will construct the new olefins furnaces. At the Mont Belvieu Plastics Plant, Mitsubishi Heavy Industries will construct two 650,000 tons-per-year high-performance polyethylene lines. Jacobs Engineering, Ltd. will oversee enabling works and interconnections at both locations. Dashiell Corporation and Wood Group Mustang will provide specialty contracting services.

The expansion, coupled with ExxonMobil’s global sales and technology support network, enables ExxonMobil Chemical to economically supply a rapidly growing demand for high-value polyethylene products. These premium products deliver sustainability benefits such as lighter packaging weight, lower energy consumption, and reduced emissions. ExxonMobil Chemical estimates exports could increase significantly as a result of the expansion. Production of these high-quality petrochemical products used in a wide range of consumer and industrial applications is expected to start in 2017.

“This expansion will provide many great opportunities for workers with technical skills who are interested in energy and chemical manufacturing. These are high-paying jobs that lead to fulfilling and rewarding careers in an industry that’s vital to the American economy,” Pryor said. The average annual wage in the Texas chemical industry is about $100,000.

To support the project’s need for skilled workers, ExxonMobil has committed $1 million to the Community College Petrochemical Initiative, a training program offered by nine Houston-area community colleges to provide technical skills to high school graduates, returning military veterans and others. The program has earned state and federal recognition for recruiting and training instrument technicians, welders, pipefitters and other skilled employees for the chemical industry. This program will involve 50,000 students and educators over the next five years.

For more information about the project or to learn more about a career in the industry, visit www.HoustonNaturalGas.com or www.gulfcoastcc.org. Prospective students may apply online or enroll at the campus of their choice for classroom instruction, dual-credit courses, internships, certificate programs and two-year degrees.

About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. Follow ExxonMobil on Twitter at www.twitter.com/exxonmobil.
– See more at: http://news.exxonmobil.com/press-release/exxonmobil-chemical-company-begins-multi-billion-dollar-expansion-project-baytown-texa#sthash.rieBBGt6.dpuf

CLEVELAND – Sherwin-Williams Protective & Marine Coatings launched an Oil & Gas app to provide users with protective coatings recommendations best suited to extend the lifecycle of assets in refineries and shale drilling sites, such as frac tanks, pipelines, cooling towers and rail tank cars. The app is optimized for both iOS and Android.

“The Oil and Gas App will allow customers to get expert recommendations on the coatings and linings that provide performance in the harshest and most extreme service conditions, with just the touch of a button,” said Ron Knecht, Regional Market Director Oil & Gas North America, Protective & Marine Coatings at Sherwin-Williams. “From upstream to downstream, Sherwin-Williams has the solutions you need for corrosive environments, and this new app makes it easy to find them. No other coatings manufacturer has an app designed to walk owners and maintenance managers through the coatings selection process on the go.”

The home screen allows the user to select information about different locations within a refinery or a shale drilling site. Once the site type has been chosen, the screen will prompt users to select which asset within the refinery or drilling site needs the protective coating. The app then recommends the coating system that would be most beneficial.

The recommendation includes the recommended coating system and/or primer, DFT (mils) for each coat, total dry mils and coating attributes. Clicking on a product name brings up a detailed product data sheet, which highlights benefits and application specifications for that particular coating.

The app is the second offering of the Sherwin-Williams Protective & Marine Coatings mobile application line, preceded by the SeaGuard app which provides coating recommendations for marine vessels.

“With the release of this app, we are further demonstrating our commitment to service, innovation and logistical support for our customers,” said Knecht.

The app can be found in the App Store and Google Play by searching “SW Oil & Gas.”

Sherwin-Williams is a global protective and marine coatings company that delivers smarter asset protection and unmatched service and specification support to its customers from 4,000 locations worldwide. From alkyds to zincs, the company offers a complete line of time-tested, high performance coatings and systems to combat corrosion, supported by the largest group of NACE-certified coatings inspectors in the industry. With more than 140 years in business and a culture of product innovation, Sherwin-Williams today is the single source of supply for coatings solutions made to your specifications and delivered on time, every time.

ABERDEEN, UK— Energy services company, GE Oil & Gas (NYSE: GE), today announces the launch of its GirlsGetSET initiative in the North East of Scotland. A five-year programme, it has been designed to raise awareness amongst female pupils of the wide range of opportunities available through pursuing a career in the fields of science, engineering and technology (SET).

With women making up just 6 per cent of the engineering workforce in the UK[1] and only 5.3 per cent of females involved in SET-related roles[2], the initiative—the brainchild of engineering graduates from GE’s Aviation business—seeks to contribute to closing the gender gap between pupils choosing SET subjects at secondary school.

Kimberley Kirkham, the initiative’s co-founder, introduced the programme to GE Oil & Gas’ Subsea Systems business when she joined its global operations team in Aberdeen. She said: “My dad is a structural engineer and was pretty instrumental in encouraging my interest in the field. He spent some time as a university lecturer when I was younger and used to bring cool experiments home for my brother and I to play with. I never realised there was an engineering stereotype until I went to university and was the only girl in a class of about 60.

“Until I started at GE, I didn’t have any strong female role models. I think that’s important, especially for young girls who haven’t yet made any assumptions about who engineers are and what they do. If we can make it accessible and they can see someone who’s done it before, then that helps them to identify the career possibilities and understand how to get there. Engineering is a great outlet for creativity and innovation and I want to help more female pupils to understand and appreciate that.

“I’m really excited that, through GE Oil & Gas, we’ve been able to bring this fantastic opportunity to the North East of Scotland, a key region for driving continued growth across the worldwide energy sector. Some of the pupils involved will almost certainly become the future of our industry and it’s important that we invest in them now.”

GE invited 120 girls (aged 11-15) and teaching staff from Bridge of Don Academy, St Machar Academy and Montrose Academy to the launch event at its subsea headquarters in Aberdeen, where the day started with an official welcome address from VIP guest and GE Oil & Gas’ chief technology officer, Eric Gebhardt. He was joined by Subsea Systems’ quality leader, Ron Ritter and chief information officer, Angelica Tritzo.

Pupils kick-started the day by taking part in a series of fun workshops designed to simulate some of the challenges faced by those working in the oil and gas industry. This was followed by a networking event, in which they met GE employees to find out more about the variety of different roles available in energy sector, before ending the day with a prize-giving ceremony.

Now ‘live’, GirlsGetSET is an ongoing programme in which the girls will be mentored for the duration of their academic careers, before leaving for work, apprenticeships, college or university. Across the next five years, they will be given the opportunity to take part in a variety of fun and increasingly challenging activities, from day-long events and mini teamwork-based projects, to a year-long engineering project. Complementing this, they will have the chance to visit universities, take part in careers’ evenings, and join a personal branding workshop hosted by GE, designed to equip them with the soft skills required to kick-start their chosen careers.

Sharon Findlay, Global HR Leader at GE Oil & Gas Subsea Systems, said: “It is not news to us that a growing economy and the heightened demand for energy worldwide is increasing the need for more engineers. It’s something we continue to work on tirelessly, with various initiatives designed to tackle the issue. Partnerships between the energy sector and education are key to this, with GirlsGetSET demonstrating the concerted efforts being made by our organisation to boost the numbers of young people entering the industry at a time when talent is one of the biggest constraints.”

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

About GE Oil & Gas
GE Oil & Gas works on the things that matter in the oil and gas industry. In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today’s toughest challenges in order to fuel the future.

SAN RAMON, Calif., – Chevron Corporation (NYSE: CVX) today announced that its subsidiary, Chevron Global Energy Inc., has sold its 25 percent non-operated interest in a producing oil concession in southern Chad and the related export pipeline interests to the Republic of Chad for approximately $1.3 billion. The sale closed June 13.

“This sale demonstrates our focus on strategically managing our portfolio to maximize the value of our global upstream businesses,” said George Kirkland, vice chairman of Chevron Corporation.

“These assets have played a significant role for Chevron in Africa for the past 14 years,” said Ali Moshiri, president of Chevron Africa and Latin America Exploration and Production Company. “They have been a profitable part of our portfolio for many years. The combination of current market conditions and the size of the assets relative to our portfolio make this an ideal time for a divestiture.”

The transaction includes the sale of the Chevron subsidiary’s interests in seven fields in Chad’s Doba Basin, which in 2013 had an average net daily crude oil production of about 18,000 barrels. The sale also includes the Chevron subsidiary’s approximate 21 percent non-operated interest in a pipeline system that transports crude oil to the coast of Cameroon as well as associated marine facilities.

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

The BP Statistical Review of World Energy 2014 – launched today at the World Petroleum Congress meeting in Moscow – reveals how the world of energy echoed broader global themes in 2013. Emerging differences in global economic performance, geopolitical uncertainty and ongoing debates about the proper roles of government and markets are all reflected in its data.

Global energy demand accelerated in 2013 but, reflecting the weakness of the global economy, growth of 2.3% remained slightly below the historical average. Within this global picture, however, shifts in energy consumption mirrored those in the world’s economic patterns.

Energy consumption in the emerging economies grew below their long-term average rate, rising by 3.1%, driven by slower growth in China. However, consumption in the mature economies of the OECD grew by a higher-than-average rate of 1.2% – entirely as a result of strong growth in the US. As a result the gap between growth in the OECD and non-OECD narrowed to levels not seen since 2000.

Nonetheless, the emerging economies continue to dominate the growth in global energy demand, accounting for 80% of growth last year and nearly 100% of growth over the past decade.

The Review – the publication’s 63rd annual edition – also illustrates how geopolitical events in a number of countries continued to impact oil production in 2013, with Libya suffering the largest single decline in the face of renewed civil unrest. Those disruptions, however, were offset by a big increase in oil production in the US – driven by the massive investment in production from shale and other ‘tight’ formations. As a net result, average oil prices remained unusually stable – albeit at levels exceeding $100 per barrel for a third consecutive year.

Speaking at today’s launch in Moscow, BP Group Chief Executive Bob Dudley said: “The Review again demonstrates the strength of the flexible global energy system in adapting to a changing world. The major disruptions to production seen throughout 2013 were balanced by continued rises in production elsewhere. This underlines the importance of continuing to secure these new supplies through continued access to new resources, policies to encourage markets and investment, and the application of new technologies worldwide.”

The developments also highlighted the critical importance of both policy and market forces in delivering new supplies. As BP Chief Economist Christof Rühl also noted, “The huge investments seen in the US have been encouraged and enabled by a favourable policy regime. And this has resulted in the US delivering the world’s largest increase in oil production last year. Indeed, the US increase in 2013 – up by 1.1 million barrels a day – was one of the biggest annual oil production increases the world has ever seen.”

Elsewhere, the impact of policy on energy was also seen in continued robust growth in renewable energy – albeit from a low base. Renewables now account for more than 5% of global power output and, including biofuels, for nearly 3% of primary energy consumption. However, the challenge of sustaining expensive subsidy regimes has become visible where penetration rates are highest, namely in the below-average growth of Europe’s leading renewable producers, who are grappling with weak economic growth and strained budgets.

Review highlights – energy developments
Global primary energy consumption increased by 2.3% in 2013, growing faster than in 2012 (+1.8%) but below the 10-year average of 2.5%.
All fuels except oil, nuclear power and renewables in power generation grew at below-average rates. Growth was below average for all regions except North America.
Oil remains the world’s leading fuel, with 32.9% of global energy consumption, but it lost market share for the 14th consecutive year and its current market share is once again the lowest in our data set, going back to 1965.
Emerging economies accounted for 80% of the global increase in energy consumption – even though growth in these countries was a below average 3.1%. OECD consumption rose by an above-average 1.2%.
Robust US growth (+2.9%) accounted for all of the net increase in the OECD and consumption in the EU and Japan fell by 0.3% and 0.6%, respectively.
Oil

Dated Brent averaged $108.66 per barrel in 2013, a decline of $3.01 per barrel from the 2012 level.
Global oil consumption grew by 1.4 million barrels per day (b/d), or 1.4% – just above the historical average.
Countries outside the OECD now account for the majority (51%) of global oil consumption and they once again accounted for all of the net growth in global consumption. OECD consumption declined by 0.4%, the seventh decrease in the past eight years.
The US (+400,000 b/d) recorded the largest increment to global oil consumption in 2013, outpacing Chinese growth (+390,000 b/d) for the first time since 1999.
Global oil production did not keep pace with the growth in global consumption, rising by just 560,000 b/d or 0.6%. The US (+1.1 million b/d) recorded the largest growth in the world and the largest annual increment in the country’s history for a second consecutive year.
The US accounted for nearly all (96%) of the non-OPEC output increase of 1.2 million b/d (the strongest since 2002) to reach a record 50 million b/d.
Global refinery crude runs increased by a below-average 390,000 b/d or 0.5%. Non-OECD countries accounted for all of the net increase, rising by 730,000 b/d.
OECD refinery throughputs declined by 340,000 b/d, the seventh decline in the past nine years despite an increase of 320,000 b/d in US refinery runs, as the US continued to ramp up net product exports.
Global oil trade in 2013 grew by 2.1% or 1.2 million b/d – among importers, growth in Europe and emerging economies more than offset declines in the US and Japan.
Global proved reserves of oil increased to 1687.9 billion barrels at the end of 2013, sufficient to meet 53.3 years of global production.
Natural gas

World natural gas consumption grew by 1.4%, below the historical average of 2.6%. As with primary energy, consumption growth was above average in the OECD countries (+1.8%) and below average outside the OECD (+1.1%).
Growth was below average in every region except North America. China (+10.8%) and the US (+2.4%) recorded the largest growth increments in the world, together accounting for 81% of global growth.
India (-12.2%) recorded the largest volumetric decline in the world, while EU gas consumption fell to the lowest level since 1999.
Globally, natural gas accounted for 23.7% of primary energy consumption.
Global natural gas production grew by 1.1%, which was well below the 10-year average of 2.6%.
Growth was below average in all regions except Europe and Eurasia. The US (+1.3%) remained the world’s leading producer, but both Russia (+2.4%) and China (+9.5%) recorded larger growth increments in 2013.
Global natural gas trade grew by 1.8% in 2013, well below the historical average of 5.2%. Pipeline shipments grew by 2.3%.
LNG’s share of global gas trade declined slightly to 31.4% – and international natural gas trade accounted for 30.9% of global consumption.
Global proved reserves of natural gas increased to 185.7 trillion cubic meters (tcm), sufficient to meet 54.8 years of global production.
Other fuels

Coal consumption grew by 3% in 2013, well below the 10-year average of 3.9% but it is still the fastest-growing fossil fuel.
Coal’s share of global primary energy consumption reached 30.1%, the highest since 1970. Consumption outside the OECD rose by a below-average 3.7%, but still accounted for 89% of global growth.
Global nuclear output grew by 0.9%, the first increase since 2010. Nuclear output accounted for 4.4% of global energy consumption, the smallest share since 1984.
Global hydroelectric output grew by a below average 2.9%, and accounted for 6.7% of global energy consumption.

Renewable energy sources – in power generation as well as transport – continued to increase in 2013, reaching a record 2.7% of global energy consumption, up from 0.8% a decade ago.
Globally, wind energy (+20.7%) once again accounted for more than half of renewable power generation growth and solar power generation grew even more rapidly (+33%), but from a smaller base.
Global biofuels production grew by a below-average 6.1% (80,000 b/doe), driven by increases in the two largest producers: Brazil and the US.

This is courtesy of www.bp.com

IRVING, Texas–Exxon Mobil Corporation (NYSE:XOM) today announced the CLOV project in Angola started up on schedule and is expected to reach daily production capacity of 160,000 barrels in the coming months.
CLOV is the fourth major development hub of Total-operated Block 17, after Girassol, Dalia and Pazflor. An ExxonMobil affiliate has a 20 percent working interest in CLOV, which will produce oil from the four fields of Cravo, Lirio, Orquidea and Violeta at water depths ranging from 3,600 feet to 4,593 feet.

“Block 17, along with Esso Angola-operated Block 15, in which the company has a 40 percent working interest, are the most productive blocks in Angola,” said Neil Duffin, president of ExxonMobil Development Company.

CLOV, located 87 miles offshore Luanda, includes 34 wells and eight manifolds connected by 112 miles of subsea pipelines to a floating production storage and offloading vessel and crude oil offloading terminal.

The 1,000-foot-long, 197-foot-wide vessel can store up to 1.8 million barrels of oil. Natural gas produced at CLOV will be exported through a subsea pipeline to an Angola liquefied natural gas plant in Soyo.

CLOV produces two types of oil from the Miocene and Oligocene geological horizons. Miocene oil is more viscous than Oligocene oil and required a subsea multiphase pump system for transportation to boost co-mingled fluid and enhance oil recovery.

The project was completed with more than 10 million hours performed by a local workforce to complete fabrication and assembly of the storage and offloading vessel in Angola. The water treatment module, a critical component of the vessel, was built and installed in Angola, a first for the country. The project also provided training programs for local personnel and played a part in enhancing the country’s socio-economic development.

“CLOV is another indication of ExxonMobil’s commitment to Angola, where we have been involved for about 20 years,” Duffin said. “ExxonMobil continues to evaluate additional development opportunities in the country.”

Sonangol is the concessionaire for Block 17. Total has 40 percent interest, Statoil has 23.33 percent, and BP has 16.67 percent.

ExxonMobil affiliates’ Angola interests also include 15 percent of the Kaombo project, located in southeast area of Block 32, which launched development of six fields in April. Production in Block 15 from Kizomba Satellite Phase 1 started in 2012 and Phase 2 project development is underway with production startup targeted for 2015.

– See more at: http://news.exxonmobil.com/press-release/exxonmobil-oil-production-increase-time-startup-clov-project#sthash.0UuebHZy.dpuf

AMES, Iowa — Renewable Energy Group, Inc. (NASDAQ: REGI) has reached an agreement with Tyson Foods, Inc. (NYSE: TSN) to acquire Tyson’s 50% ownership position in Dynamic Fuels, LLC, the companies announced today.

“Selling our interest in Dynamic Fuels to REG provides capital for Tyson to redeploy into other opportunities”

Completion of the transaction with Tyson Foods, which is contingent upon the closing of REG’s December 2013 announced agreement to acquire substantially all of the assets of Syntroleum Corporation (NASDAQ: SYNM), would give REG full ownership of Dynamic Fuels and its 75-million gallon per year nameplate capacity renewable diesel biorefinery in Geismar, Louisiana. Tyson and Syntroleum formed Dynamic Fuels in 2007 as a 50/50 joint venture. The Geismar facility, completed in 2010, was the first large scale renewable diesel biorefinery built in the U.S.

“Upon closing, this is another milestone for REG in growing our core advanced biofuels business,” said Daniel J. Oh, REG President & CEO. “It gives us the opportunity to further expand our production capacity into new product lines, while growing our overall advanced biofuel manufacturing capability, and bringing on other renewable chemical applications.”

“Selling our interest in Dynamic Fuels to REG provides capital for Tyson to redeploy into other opportunities,” said Andrew Rojeski, Vice President-Renewable Energy for Tyson Foods. “REG is a long-term customer of ours, buying fats, oils and greases to make renewable fuel, and we hope to continue that relationship.”

Under the terms of the agreement, an REG subsidiary would acquire Tyson Foods’ 50% membership interest in Dynamic Fuels by paying Tyson approximately $18 million in cash at closing and up to $35 million in future payments tied to production volume at the Geismar biorefinery over a period of up to eleven and a half years. REG will also fund repayment of approximately $12 million of Dynamic Fuels’ indebtedness to Tyson at closing.

A portion of the development and construction of the Geismar biorefinery was funded by $100 million in Gulf Opportunity Zone Bonds, issued through the Louisiana Public Facilities Authority. Closing of the acquisition from Tyson Foods is conditioned on REG’s replacement of the letter of credit Tyson Foods obtained to support issuance of the bonds or completion of a financing sufficient to refinance the bonds prior to December 31, 2014 on terms acceptable to REG. REG may seek to use existing cash on hand and/or one or more financing vehicles, including public or private debt or equity, to satisfy this condition. Closing is also subject to satisfaction of other customary closing conditions.

REG currently owns eight operating biodiesel refineries in Iowa, Illinois, Minnesota and Texas that have a combined annual nameplate production capacity of 257 million gallons. With the addition of the Geismar facility, the company’s total advanced biofuel annual nameplate production capacity would increase to 332 million gallons.

About Renewable Energy Group
Renewable Energy Group, Inc. is a leading North American biodiesel producer with a nationwide distribution and logistics system. Utilizing an integrated value chain model, Renewable Energy Group is focused on converting natural fats, oils and greases into advanced biofuels and on converting diverse feedstocks into renewable chemicals. With 257 million gallons of annual nameplate production capacity at biorefineries across the country, REG is a proven biodiesel partner in the distillate marketplace.

For more than a decade, REG has been a reliable supplier of biodiesel which meets or exceeds ASTM quality specifications. REG sells REG-9000™ biodiesel to distributors so Americans can have cleaner burning fuels that help diversify the energy complex and increase energy security. REG-9000™ biodiesel is distributed in most states in the U.S.

About Tyson Foods
Tyson Foods, Inc. (NYSE TSN), with headquarters in Springdale, Arkansas, is one of the world’s largest processors and marketers of chicken, beef and pork, the second-largest food production company in the Fortune 500 and a member of the S&P 500. The company was founded in 1935 by John W. Tyson, whose family has continued to be involved with son Don Tyson leading the company for many years and grandson John H. Tyson serving as the current Chairman of the Board of Directors. Tyson Foods produces a wide variety of protein-based and prepared food products and is the recognized market leader in the retail and foodservice markets it serves. The company provides products and services to customers throughout the United States and approximately 130 countries. It has approximately 115,000 Team Members employed at more than 400 facilities and offices in the United States and around the world. Through its Core Values, Code of Conduct and Team Member Bill of Rights, Tyson Foods strives to operate with integrity and trust and is committed to creating value for its shareholders, customers and Team Members. The company also strives to be faith-friendly, provide a safe work environment and serve as stewards of the animals, land and environment entrusted to it.

This news is courtesy of www.tysonfoods.com

IRVING, Texas–Exxon Mobil Corporation (NYSE:XOM) today said it shipped the first cargo of liquefied natural gas (LNG) from the $19 billion PNG LNG project ahead of schedule.
PNG LNG, operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than 9 trillion cubic feet of gas over its estimated 30 years of operations. The first cargo is bound for LNG customer Tokyo Electric Power Co. Inc. (TEPCO) in Japan.

Production from the first train started in April and production from the second train has also started as additional wells came online.
“The PNG LNG project exemplifies ExxonMobil’s leadership in project execution, advanced technologies and marketing capabilities,” said Neil W. Duffin, president of ExxonMobil Development Company. “Our demonstrated expertise will enable us to progress other LNG opportunities in our portfolio, including expansion opportunities in Papua New Guinea and to meet growing global demand. Disciplined project execution has enabled us to supply Asia’s increasing energy needs and will benefit the people of Papua New Guinea for decades.”

Construction of PNG LNG began in 2010, and took more than 190 million work hours to complete. At its peak, the project employed more than 21,000 people.
Flooding, minimal pre-existing infrastructure and extremely steep slopes were among obstacles that were overcome in constructing the project. Pipe had to be airlifted in some areas because the soil could not support heavy machinery and lack of infrastructure required construction of supplemental roads, communication lines and a new airfield.

“This project has brought significant economic benefits to our country that will last for generations to come,” said Papua New Guinea Prime Minister, Hon. Peter O’Neill.
“Not only will the people of Papua New Guinea now benefit, their children and grandchildren will continue to enjoy the benefits and positive effects from this valuable resource development for many years to come,” O’Neill said.

The PNG LNG project is an integrated development that includes gas production and processing facilities in the Southern Highlands, Hela, Western, Gulf and Central provinces of Papua New Guinea. Approximately 435 miles of pipeline connect the facilities, which include a gas conditioning plant and liquefaction and storage facilities with capacity of 6.9 million tonnes of LNG per year.
The four major customers for the project’s output are China Petroleum and Chemical Corp. (Sinopec), Tokyo Electric Power Co. Inc. (TEPCO), Osaka Gas Co. Ltd., and CPC Corp. Taiwan.
In addition to ExxonMobil PNG Limited, co-venturers are Oil Search Limited, National Petroleum Company of PNG, Santos Ltd., JX Nippon Oil & Gas Exploration Corp., Mineral Resources Development Company (representing landowners) and Petromin PNG Holdings Limited.
ExxonMobil continues to assess and advance new expansion and development opportunities in Papua New Guinea.

About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.
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NAPLES, Fla., — Hertz Equipment Rental Corporation (hertzequip.com), a wholly owned subsidiary of The Hertz Corporation (NYSE:HTZ), has expanded its Denver, Colorado operations with the launch of a new satellite facility in Cheyenne, Wyoming’s capital. The Cheyenne location serves the southern Wyoming and northern Colorado oil plays and also operates onsite at a key services partner location.

“We are continuing to make strategic investments in the oil and gas exploration and production sector, one of our strongest industrial business segments,” said Lois Boyd, President, Hertz Equipment Rental Corporation. “As part of this focus, we are very excited to extend our Denver-based equipment rental operations with our new Cheyenne, Wyoming speciality location to support oil plays in the surrounding area. As always, our mission is to help our customers control costs, expand their revenues, take comprehensive safety measures and maintain compliance.”

Hertz Equipment Rental brings over 30 years of experience with oil field clientele, with equipment and services specially designed for upstream and midstream operations. The company serves many oil and gas plays in North America, including the Bakken, Barnett, Eagle-Ford, Haynesville, Marcellus, Permian Basin, and Utica. Hertz Equipment Rental works closely with both operating and production companies as well as the drilling contractors working within those environments.

The Hertz Equipment Cheyenne facility provides a wide range of industrial fleet for rent or sale. The equipment includes aerial lifts, earth moving, forklifts, heaters, hoses, light plants, portable power and power distribution products, speciality pumps and compressors, and other oil field specific fleet. The company can also set up on-site operations around the clock with full time staff where needed in order to minimize downtime and maximize production.

Hertz equipment is purchased from the industry’s leading manufacturers and is available for daily, weekly, monthly and long-term rentals. There are also rent-to-own and rental purchase option plans available for the new and used equipment for sale.

Hertz Equipment Rental employs highly trained, experienced staff fully dedicated to providing customers a premier rental experience. Specialist personnel can engineer a complete application study to deliver the best solution to generate the highest level of success for customers.
The company also offers its clients safe operation equipment training to assist in the safety education of employees. These courses can be tailored to each company’s individual safety needs.

The Cheyenne facility is located at 715 E 15th St, Cheyenne, WY 82001. Its hours of operation are 7:00am – 5:00pm Monday – Friday. Staff can be reached via telephone number 307 635 9051.

About Hertz Equipment Rental Corporation
Hertz Equipment Rental Corporation (www.hertzequip.com) – a wholly owned subsidiary of The Hertz Corporation since 1965 – operates one of the world’s largest equipment rental businesses, offering a diverse line of equipment and tools for rent and sale. Products include aerial manlifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling equipment, pumps, and trucks and trailers. Hertz Equipment also offers programs and equipment through its customer programs for Aerial, Energy, Entertainment, Government, HERC360 Fleet Management, Industrial Plants, National Accounts and Safety. With approximately 360 locations in the United States, Canada, China, France, Spain and Saudi Arabia as well as through international licensees, Hertz Equipment Rental offers daily, weekly, monthly and long-term rentals, tools and supplies, as well as new and used equipment for sale.

About The Hertz Corporation
Hertz operates its car rental business through the Hertz, Dollar, Thrifty and Firefly brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the U.S. and at 111 major airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and franchisee locations in approximately 80 countries. Hertz is an inaugural member of Travel + Leisure’s World’s Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine’s readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat’s 2013/14 U.S. Car Rental Survey, earning top honors in 10 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates the Hertz 24/7 hourly car rental business. Hertz also operates one of the world’s largest equipment rental businesses, Hertz Equipment Rental Corporation, through approximately 350 branches in the United States, Canada, China, France, Spain and Saudi Arabia, as well as through its international licensees.

This news is courtesy of www.hertz.com

SAN RAMON, Calif., April 10, 2014 – Chevron Corporation (NYSE: CVX) today confirmed that subsidiaries of the company have signed agreements with the Argentine oil company YPF S.A. to continue development of shale oil and gas resources from the Vaca Muerta formation located in the Neuquén province in Argentina.

“This is a significant step in our subsidiaries’ joint efforts with YPF to develop one of the most exciting shale plays in the world today,” said George Kirkland, vice chairman of Chevron Corporation. “Vaca Muerta could become an important contributor to Chevron’s long term production growth.”

The agreements build off the progress made with the drilling program begun in 2013 and call for continued investment toward large-scale drilling and production in the 96,000-acre (388-sq. km) Loma Campana concession. The agreements also call for exploration of shale oil and gas resources in the 49,400-acre (200-sq. km) Narambuena area located about 70 miles (100 kilometers) north of Loma Campana in the Chihuido de la Sierra Negra concession, one of the main producing areas in the Neuquén Basin of west-central Argentina.

“YPF is a reliable partner and operator that is advancing the project in the right direction,” said Ali Moshiri, president of Chevron Africa and Latin America Exploration and Production Company. “We are pleased with the progress achieved so far and look forward to continuing to provide our technical expertise and investment to help Argentina achieve its goal of energy self-sufficiency.”

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

NEW YORK & SÃO PAULO- Alcoa (NYSE: AA) today announced it will curtail 147,000 metric tons of smelting capacity at its São Luís (Alumar) and Poços de Caldas smelters in Brazil due to challenging global market conditions in primary aluminum and increased costs that have made the smelters uncompetitive. The curtailments are expected to be complete by the end of May 2014.

In 2013, the Company curtailed 34,000 metric tons at Poços and 97,000 metric tons at São Luís. The new curtailments will include the remaining 62,000 metric tons of capacity from the Poços smelter, resulting in a full curtailment of its three potlines. Another 85,000 metric tons will be curtailed at São Luís.

“Across the globe, we are taking measures to curtail high-cost smelting capacity that is not competitive and reshape our cost profile,” said Bob Wilt, President of Alcoa Global Primary Products. “These are difficult but necessary actions in support of Alcoa’s strategy to lower the cost base of our upstream businesses.”

As a result of the smelter curtailment, the Poços refinery will also reduce production accordingly. The mine, aluminum powder plant and casthouse at Poços will continue normal operations, as will the refinery at São Luís. Other Alcoa operations in Brazil are not affected.

“We know how deeply this decision affects our employees, our contractors and our communities,” said Aquilino Paolucci, President of Alcoa Latin America and the Caribbean. “While our teams have worked incredibly hard to make these facilities more competitive, we must take steps regarding our primary metal production in Brazil given the market conditions we are facing. We appreciate the support of governments at all levels, and will actively work in partnership with our employees, unions, and community stakeholders to manage through this transition and minimize the impact.”

In May 2013, Alcoa placed 460,000 metric tons of smelting capacity under review. Once all announced curtailments and closures are complete, Alcoa will have approximately 800,000 metric tons, or 21 percent, of smelting capacity offline.

Total restructuring-related charges associated with the Brazil curtailments in the first quarter are expected to be between $40 million and $50 million after-tax, or $0.04 to $0.05 per share, of which approximately 30 percent would be non-cash.

Alcoa’s review of its primary metals operations is consistent with the Company’s goal of lowering its position on the world aluminum production cost curve to the 38th percentile and the alumina cost curve to the 21st percentile, by 2016.

About Alcoa in Brazil
Alcoa operates in Brazil throughout the aluminum production chain, from bauxite mining to the production of transformed and value-add products. Alcoa has 5,700 employees and six production units and offices in the states of Maranhão, Minas Gerais, Pará, Pernambuco, Santa Catarina, São Paulo and Federal District. Alcoa owns 100% of the Poços smelter, and the São Luís smelter is owned 60% by Alcoa Alumínio and 40% by BHP Billiton. The Company also has shareholdings in Mineração Rio do Norte (MRN) and in four hydroelectric power plants: Machadinho, Barra Grande, Serra do Facão and Estreito. In 2013 it was considered the most sustainable company in its industry and in the category of Relationship with Suppliers of the Guia EXAME de Sustentabilidade [EXAME Magazine’s Sustainability Guide]. In the same year, it was recognized for the twelfth time as one of the Best Companies to Work and for the second consecutive year the Best Company for Women to Work in Brazil, by the Great Place to Work Institute.

About Alcoa
A global leader in lightweight metals engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our 60,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com,

This news is courtesy of www.alcoa.com

HOUSTON – Halliburton (NYSE: HAL) announces the signing ofa partnership agreement with Gubkin Russian State University of Oil and Gas for
the development of unconventional resources in Russia, including the Bazhenovshale. A signing ceremony took place on January 30 at the university.

As part of the agreement, Halliburton will provide senior technical and management staff to serve on Gubkin’s Industry Advisory Boards, as well as provide the foundation material for Gubkin’s unconventional curriculum that will become the basis for student and industry training. In addition, Halliburton will work with Gubkin to explore basic applied research opportunities in conventional and unconventional resource development, provide assistance with student projects, and pursue R&D opportunities with Russian industry partners.

According to Brady Murphy, Halliburton’s Senior Vice President of Business Development, “Halliburton is positioned to provide the most recent ideas in unconventional development as well as state-of-the-art research and development solutions for the Bazhenov in Russia.” Speaking at the signing ceremony, university Rector Viktor Martynov noted that “by collaborating with Halliburton, Gubkin will be able to offer students and industry personnel real world experience in unconventional resource development.”

According to published reports Russia may hold as many as 680 trillion cubic meters of unconventional resources, which include gas from shale, sandstones and coal beds. Konstantin Schilin, Halliburton’s Vice President for Russia, noted that Halliburton, as well as local companies, will require new graduates with the requisite knowledge and training to tackle the challenges of the Bazhenov and other unconventional resources.

Professor Mikhail Silin, university Vice Rector in charge of innovation activity and commercialization of new developments, noted that “by partnering with Halliburton, Gubkin is now in a position to create a collaborative framework to strengthen our educational curriculum and learning environment and to prepare students to contribute more to their employers upon graduation.”

This news is courtesy of www.halliburton.com

WASHINGTON -U.S. energy sector employees can help accelerate economic growth and employment by supporting sound energy policies and education, job training and career development, Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation (NYSE:XOM), said today.

“Pro-growth energy policies can spur our economy by opening access to American resources, enabling investment and innovation, and by advancing energy and infrastructure projects that employ millions of Americans,” Tillerson said in a speech at North America’s Building Trades Unions legislative conference in Washington, D.C.

Since the recession that began in late 2007, employment in oil and gas fields has increased 40 percent and in states where oil production is on the rise, overall employment growth has outpaced the rest of the United States.

“The oil and natural gas industry now supports 9.8 million jobs, and the average job in oil and gas production pays roughly seven times the federal minimum wage,” Tillerson said. “The U.S. energy sector now accounts for $1.2 trillion of the U.S. economy – equal to 8 percent of our gross domestic product. And thanks to technological breakthroughs and visionary projects, in 2013 our nation became the world’s leading producer of energy from oil and natural gas.”

U.S. energy workers, through the leaders and members of American unions, can help convey the reasons why access to the country’s energy resources and expansion of its energy infrastructure is so important, said Tillerson.

With sound energy policies, the U.S. could see up to 452,000 new jobs created by 2035 through liquefied natural gas exports, according to a recent study. Some 500,000 new jobs supported by new oil sands development could come within 20 years and in oil and gas exploration and production alone, 166,000 jobs for African American and Hispanic workers could be generated between 2010 and 2020, the study shows.

Among the challenges faced by the United States is an aging workforce and retirement of baby boomers. Tillerson said the energy industry and the building trades unions need to work together in the years ahead to find a way to replace skilled workers, including scientists, engineers, electricians, welders and technicians.

“Whether you work at ExxonMobil or for the building trades, we share the same desire for America’s future: We want the safest, best-trained and best-qualified workforce in the world,” Tillerson said. “Today’s unions can help tomorrow’s workforce by communicating the urgency of action and the need to be fast and flexible in the modern global marketplace.”

In many ways, he said, the old training model should be updated for today’s realities. In the old paradigm, before a trainee even started training, these programs sought businesses to commit to hiring individuals after training.

“In industry, we recognize and appreciate that this training is often strong, but given global, economic and regulatory uncertainty, it is simply impossible for us to commit to such hiring years in advance,” Tillerson said. “For this reason, workers need a new model. By building on our frank and open dialogue, we can build one worthy of 21st century challenges.”

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world.

This news is courtesy of www.exxonmobil.com

Alpha Natural Resources, Inc. (Alpha), one of the nation’s largest coal companies, Alpha Appalachian Holdings (formerly Massey Energy), and 66 subsidiaries have agreed to spend an estimated $200 million to install and operate wastewater treatment systems and to implement comprehensive, system-wide upgrades to reduce discharges of pollution from coal mines in Kentucky, Pennsylvania, Tennessee, Virginia and West Virginia, the Department of Justice and the U.S. Environmental Protection Agency (EPA) announced today. Overall, the settlement covers approximately 79 active mines and 25 processing plants in these five states.

EPA estimates that the upgrades and advanced treatment required by the settlement will reduce discharges of total dissolved solids by over 36 million pounds each year, and will cut metals and other pollutants by approximately nine million pounds per year. The companies will also pay a civil penalty of $27.5 million for thousands of permit violations, which is the largest penalty in history under Section 402 of the Clean Water Act (CWA).

“The unprecedented size of the civil penalty in this settlement sends a strong deterrent message to others in this industry that such egregious violations of the nation’s Clean Water Act will not be tolerated,” said Robert G. Dreher, Acting Assistant Attorney General for the Justice Department’s Environment and Natural Resources Division. “Today’s agreement is good news for communities across Appalachia, who have too often been vulnerable to polluters who disregard the law. It holds Alpha accountable and will bring increased compliance and transparency among Alpha and its many subsidiaries.”

“This settlement is the result of state and federal agencies working together to protect local communities from pollution by enforcing the law,” said Cynthia Giles, Assistant Administrator of EPA’s Office of Enforcement and Compliance Assurance. “By requiring reforms and a robust compliance program, we are helping to ensure coal mining in Appalachia follows environmental laws that protect public health.”

In addition to paying the penalty, the companies must build and operate treatment systems to eliminate violations of selenium and salinity limits, and also implement comprehensive, system-wide improvements to ensure future compliance with the CWA. These improvements, which apply to all of Alpha’s operations in Appalachia, include developing and implementing an environmental management system and periodic internal and third-party environmental compliance audits.

The companies must also maintain a database to track violations and compliance efforts at each outfall, significantly improve the timeliness of responding to violations, and consult with third party experts to solve problem discharges. In the event of future violations, the companies will be required to pay stipulated penalties, which may be increased and, in some cases, doubled for continuing violations.

The government complaint alleged that, between 2006 and 2013, Alpha and its subsidiaries routinely violated limits in 336 of its state-issued CWA permits, resulting in the discharge of excess amounts of pollutants into hundreds of rivers and streams in Kentucky, Pennsylvania, Tennessee, Virginia, and West Virginia. The violations also included discharge of pollutants without a permit.

In total, EPA documented at least 6,289 violations of permit limits for pollutants that include iron, pH, total suspended solids, aluminum, manganese, selenium, and salinity. These violations occurred at 794 different discharge points, or outfalls. Monitoring records also showed that multiple pollutants were discharged in amounts of more than twice the permitted limit on many occasions. Most violations stemmed from the company’s failure to properly operate existing treatment systems; install adequate treatment systems; and implement appropriate water handling and management plans.

Today’s settlement also resolves violations of a prior 2008 settlement with Massey Energy, and applies to the facilities and sites formerly owned by the company. Under the 2008 settlement, Massey paid a $20 million penalty to the federal government for similar CWA violations, in addition to over a million dollars in stipulated penalties over the course of the next two years. Alpha purchased Massey in June 2011 and, since taking over the company, has been working cooperatively with the government in developing the terms of today’s settlement.

CWA permits allow for the discharge of certain pollutants in limited amounts to rivers, streams, and other water bodies. Permit holders are required to monitor discharges regularly and report results to the respective state agencies.

Alpha, headquartered in Bristol, Va., is one of the largest coal companies in the nation. Alpha operates more than 79 active coal mines and 25 coal preparation plants located throughout Kentucky, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. The Wyoming operations are not included in today’s settlement.

The States of West Virginia, Pennsylvania, and Kentucky are co-plaintiffs in today’s settlement. The U.S. will receive half of the civil penalty and the other half will be divided between the co-plaintiffs based on the number of violations in each state, as follows: West Virginia ($8,937,500), Pennsylvania ($4,125,000), and Kentucky ($687,500).

The consent decree, lodged in the U.S. District Court for the Southern District of West Virginia, is subject to a 30-day public comment period and approval by the federal court.

This Press Release is courtesy of www.justice.gov

HOUSTON, Texas, – Chevron Energy Technology Company and GE Oil & Gas announced today the creation of the Chevron GE Technology Alliance, which will develop and commercialize valuable technologies to solve critical needs for the oil and gas industry.

The Alliance builds upon a current collaboration on flow analysis technology for oil and gas wells. It will leverage research and development from GE’s newest Global Research Center, the first dedicated to oil and gas technology.

“GE brings its leading manufacturing capabilities, worldwide marketing, distribution, and extensive R&D capabilities not only for oil and gas, but also other business sectors to this alliance,” said Paul Siegele, president of Chevron Energy Technology Company and chief technology officer. “Together, we hope to bring impactful new technologies to the industry.”

“Chevron’s deep understanding of the oil and gas industry, combined with GE’s long tradition of technology development and close collaboration with strategic partners, will uniquely position this new alliance to address the industry’s technology needs,” said Lorenzo Simonelli, president and CEO, GE Oil & Gas. “The solutions developed by this alliance will take on even more industry significance given Chevron’s proven leadership in being first to field-test and deploy new technology breakthroughs.”

This partnership builds upon an ongoing collaboration between Chevron and GE developing the GE Safire™ flow meter, now being tested and deployed on Chevron land-based well production lines in the western United States. In addition to the flow metering collaboration, which is being conducted with the Measurement & Control business within GE Oil & Gas, the Alliance is also managing a coatings project and will be taking on additional high-value projects in the near future.

The Alliance provides a mechanism for commercializing early stage technologies from Chevron, GE or other technology partnerships. For example, GE flow meter products will be developed incorporating the Swept Frequency Acoustic Interferometry metering technology incubated in an alliance between Chevron and Los Alamos National Laboratory.

“Los Alamos develops unique technologies and these can have powerful applications for U.S. industry,” said Duncan McBranch, chief technology officer for Los Alamos National Laboratory. “Strategic partnerships with industry allow us to accelerate breakthrough innovation in these areas. As the alliance demonstrates, national laboratories can serve an important role in connecting different industry partners to strengthen the U.S. innovation landscape.”

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif.

This Press Release is courtesy of www.chevron.com

Shell today announced it has reached a binding agreement to sell its Australia downstream businesses (excluding Aviation) to Vitol for a total transaction value of approximately A$2.9 billion (US$2.6 billion).
The sale covers Shell’s Geelong Refinery and 870-site retail business – along with its bulk fuels, bitumen, chemicals and part of its lubricants businesses in Australia. It also includes a brand license arrangement and an exclusive distributor arrangement in Australia for Shell Lubricants.

It does not include the Aviation business, which will remain with Shell Group, or the lube oil blending and grease plants in Brisbane, which will be converted to bulk storage and distribution facilities. The majority of Shell’s downstream staff in Australia will continue to operate the business under its new owner.

Shell’s upstream operations in Australia, in which it will continue to invest, are not impacted by this announcement.

Ben van Beurden, Shell’s Chief Executive Officer, said: “Australia remains important to Shell, but we are making tough portfolio choices to improve the company’s overall competitiveness.

“Our customers will continue to benefit from the quality associated with the Shell brand and we are confident Vitol will invest in and grow the business.”

Vitol President and CEO Ian Taylor said: “This is an exciting acquisition for us, a good company led by an experienced management team and underpinned by the value of the Shell brand. Australia is a growing economy and we look forward to working with the management team to strengthen and grow the business.”

Shell’s Australia Country Chair, Andrew Smith, acknowledged the enormous contribution that Shell’s downstream employees had made to the company over the past 113 years.

Smith said: “Like any business that operates for over a century, Shell’s business has changed over the years, and we are pleased to have found a buyer for the Geelong Refinery. Through the brand agreement reached with Vitol, the Shell brand will continue to be displayed across the company’s service station network and customers will still have access to quality Shell fuels and lubricants.

“Shell will continue to play a major role in the development of Australia’s expanding liquefied natural gas industry, and we look forward to strengthening our presence in the years ahead.”

The deal is subject to regulatory approvals and is expected to close in 2014.

Recent downstream divestments by Shell include the sale of refineries in the UK, Germany, France, Norway and the Czech Republic; downstream businesses in Egypt, Spain, Greece, Finland and Sweden, as well as the creation of a downstream joint venture – with Vitol and other partners – across Africa, and the planned sale of some downstream businesses in Italy and Norway.

Royal Dutch Shell plc

Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam and New York stock exchanges.

Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects. For further information, visit www.shell.com.

Vitol Group

The Vitol Group was founded in 1966 in Rotterdam, the Netherlands. Since then the company has grown significantly to become a major participant in world commodity markets and is now the world’s largest independent energy trader.

Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, electricity, agricultural products, metals and carbon emissions. Vitol trades with all the major national oil companies, the integrated oil majors and the independent refiners and traders. Globally Vitol trades over 5 million barrels of crude oil and oil products per day and revenues in 2012 were $303 billion. Further details on Vitol are available on www.vitol.com.

This Press Release is courtesy of www.shell.com

HOUSTON–(BUSINESS WIRE)–ExxonMobil Upstream Research Company has awarded the first commercial license for its innovative InteliRed™ remote gas detection system to co-developer Providence Photonics, LLC.

The InteliRed system is designed to improve process safety and environmental performance at oil refineries, chemical plants, liquefied natural gas (LNG) facilities and other gas processing facilities. This new, state-of-the-art system employs a specially developed computer algorithm to autonomously analyze infrared camera images to detect escaping hydrocarbon gases. The InteliRed system provides an early warning alert of hydrocarbon leaks with minimal false alarms.

Providence Photonics, LLC is an affiliate of Providence Engineering headquartered in Baton Rouge, La. ExxonMobil and Providence scientists co-developed the InteliRed system over a four-year period culminating in field tests of the system that began last year at an LNG liquefaction plant in Qatar.

“The InteliRed system is the latest example of ExxonMobil’s continuous focus on process safety and environmental protection,” said Sara N. Ortwein, president of ExxonMobil Upstream Research Company. “Our collaboration with the imaging experts at Providence Photonics has resulted in a remote gas detection system that is very accurate and, with its robust design, is capable of operating in the harsh environments of many different oil and gas processing facilities around the world.”

“This system automatically and relentlessly scans for hydrocarbon gas leaks from process equipment and notifies operators to take action before the leak can become a hazard,” said Yousheng Zeng, Providence managing partner. “Our global license from ExxonMobil enables Providence to bring this unique process safety technology to our customers around the world.”

This Press Release is courtesy of www.exxonmobil.com

WASHINGTON – The Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) today announced the first results from its 2013 investigation into the transportation of Bakken oil, known as Operation Classification, which show that crude oil taken from cargo tanks en route to rail loading facilities was not properly classified. PHMSA has issued three Notices of Probable Violations to the companies involved as a result.

Shippers are required to use nine hazard classes as a guide to properly classify their hazardous materials. Proper classification will ensure that the material is placed in the proper package and that the risk is accurately communicated to emergency responders. Shipping crude oil – or any hazardous material – without proper testing and classification could result in material being shipped in containers that are not designed to safely store it, or could lead first responders to follow the wrong protocol when responding to a spill.

“Transportation has an important role to play in helping meet our country’s energy needs, thanks to the increased production of crude oil, but our top priority is ensuring that it is transported safely,” said Transportation Secretary Anthony Foxx. “The fines we are proposing today should send a message to everyone involved in the shipment of crude oil: You must test and classify this material properly if you want to use our transportation system to ship it.”

PHMSA first launched Operation Classification in the summer of 2013, in response to increased activity in the Bakken region. Beginning in August to November 1, 2013, PHMSA inspectors tested samples from various points along the crude oil transportation chain: from cargo tanks that deliver crude oil to rail loading facilities, from storage tanks at the facilities, and from the pipeline connecting the storage tank to the rail car that would move the crude across the country. Based on the test results, eleven of the 18 samples taken from cargo tanks delivering crude oil to the rail loading facilities were not assigned to the correct packing group.

“These initial findings remind us how important it is to follow the hazardous materials regulations and to do it in the proper sequence,” said PHMSA Administrator Cynthia Quarterman. “The process begins by testing, characterizing and then properly classifying the hazard and putting it in the kind of container that will offer the highest level of safety.”

As a result of today’s findings, PHMSA has expanded the scope of Operation Classification to include testing for other factors that affect proper characterization and classification such as Reid Vapor Pressure, corrosivity, hydrogen sulfide content and composition/concentration of the entrained gases in the material. PHMSA will also move forward with the Notices of Proposed Violations totaling $93,000 that were issued to Hess Corporation, Whiting Oil and Gas Corporation, and Marathon Oil Company, and will continue working with the rail and oil industry based on Secretary Foxx’s Call to Action, including sharing of additional data, and recommendations for future safety initiatives.

In 2012, PHMSA and the Federal Railroad Administration began focusing on the safe transport of crude oil produced in the Bakken Shale region of the United States. After the formation of PHMSA’s Bakken Field Working Group and FRA’s Bakken Rail Mitigation Project, PHMSA and FRA launched Operation Classification in August 2013 to verify that crude oil was being properly classified in accordance with federal regulations. Activities included unannounced spot inspections, data collection and sampling at strategic terminal and transloading locations that service crude oil. PHMSA and FRA have also issued several safety announcements about the safe transport of crude oil by rail, including the recent January 2 Safety Alert.

This Press Release is courtesy of www.dot.gov

Shell today announces it has begun production from the Mars B development through Olympus – the company’s seventh, and largest, floating deep-water platform in the Gulf of Mexico. It is the first deep-water project in the Gulf to expand an existing oil and gas field with significant new infrastructure, which should extend the life of the greater Mars basin to 2050 or beyond. Combined future production from Olympus and the original Mars platform is expected to deliver an estimated resource base of 1 billion barrels of oil equivalent (boe).

“With two large platforms now producing from the deep-water Mars field, this project demonstrates our deep-water project delivery and leadership,” said John Hollowell, Executive Vice President for Deep Water, Shell Upstream Americas. “We safely completed construction and installation of the Olympus platform more than six months ahead of schedule, allowing us to begin production early from the development’s first well. Olympus is the latest, successful start-up of our strong portfolio of deep-water projects, which we expect to generate substantial value in the coming years. Deep water will continue to be a core growth opportunity for Shell.”

In addition to the Olympus drilling and production platform, the Shell Mars B development (Shell 71.5% operator, BP 28.5%) includes subsea wells at the West Boreas and South Deimos fields, export pipelines, and a shallow-water platform, located at West Delta 143, near the Louisiana coast. Olympus sits in approximately 945 metres (3,100 feet) of water. Using the Olympus platform drilling rig and a floating drill rig, additional development drilling will enable ramp up to an estimated peak of 100,000 boe per day in 2016. The Mars field produced an average of over 60,000 boe per day in 2013.

Also in the Gulf of Mexico, progress on the 50,000 boe/d Cardamom project (Shell 100%) continues toward a 2014 production date, and work is underway on the 50,000 boe/d, deep-water Stones development (Shell 100%) following the final investment decision last May.

This Press Release is courtesy of www.shell.com