UAE Has Internal Debate About Leaving OPEC
The United Arab Emirates is having an internal debate about the prospect of leaving OPEC, Emirati officials are telling the Wall Street Journal.The decision of the UAE to leave the oil-based group that accounts for nearly 38% of the world’s total cru…
Oil Ticks Up On Improved U.S. Economic Data
Oil prices were ticking slightly upward on Thursday following U.S. economic data showing a 1.7% increase in Q2 2022 nonfarm business sector labor productivity. The U.S. Bureau of Labor Statistics (BLS) on Wednesday said output had also increased 3.1%,…
BP CEO says more oil and gas investment is good for the climate fight
“Reducing supply without also reducing demand inevitably leads to price spikes, price spikes lead to economic volatility, and there’s a risk that volatility will undermine popular support for the transition,” he said at London’s International Ener…
Wall Street Pump & Valve Industry Watch, March 2023
The Jordan Knauff & Company (JKC) Valve Stock Index was up 3.3% over the last 12 months, while the broader S&P 500 index was down 10.3%. The JKC pump stock index fell 2.8% for the same time period.The Institute for Supply Management’s Purchas…
On the block: OMV launches Asia-Pacific sales plan
OMV has launched a process to consider selling off its E&P assets in Asia-Pacific.The company has asked interested parties to submit expressions of interest as a first step. A second step would be the submission of binding offers.The sale should t…
Oil steadies on China growth hopes
Feb 28 (Reuters) - Oil prices were steady in Asian trade on Tuesday, supported by hopes a solid economic rebound in China will drive up fuel demand, offsetting worries about further U.S. interest rate hikes potentially hurting demand in the worlds big…
China's new coal plant approvals surge in 2022, highest since 2015 -research
SINGAPORE, Feb 27 (Reuters) - China approved the construction of another 106 gigawatts of coal-fired power capacity last year, four times higher than a year earlier and the highest since 2015, driven by energy security considerations, research showed …
Emergency Dewatering Needed to Repair Failed Culverts
In one of the largest dewatering projects west of the Mississippi River in 2020, immediate work was needed to remove and replace failed culverts running underneath the main runway at McChord Airfield— culverts that were starting to impact the runway …
Exclusive: Russia plans deep March oil export cuts, sources say
MOSCOW/LONDON, Feb 22 (Reuters) - Russia plans to cut oil exports from its western ports by up to 25% in March versus February, exceeding its announced production cuts in a bid to lift prices for its oil, three sources in the Russian oil market said.R…
Mineral Concentrators & Mineral Processing
How does one decide when a valve or pump is not ideal and hindering operations? The decision to change is often hard and costly to make. However, the decision to not make a change may be more costly due to high operating expenses. In every pipeline, …
Temporary Engineered Solutions for PFAS Removal
For most construction contractors, the discovery of per- and polyfluoroalkyl substances (PFAS) during a dewatering project is not only unwelcome, but also intimidating. These so-called forever chemicals are thought to cause serious health problems, fr…
Oil prices little changed, nurse last week's losses on improved supplies
SINGAPORE, Feb 20 (Reuters) - Oil prices were little changed in early Asian trade on Monday, after settling down $2 a barrel on Friday, as rising supplies in the United States and forecasts of more interest rate hikes cooled optimism over Chinas deman…
Oil slightly lower on mixed U.S. economic data, crude stocks growth
NEW YORK, Feb 16 (Reuters) - Oil prices settled slightly lower on Thursday after trading in a narrow range as the market weighed mixed U.S. economic signals and prospects for a Chinese demand recovery with a build in U.S. crude stockpiles.Brent crude …
Drop In Gas Prices Weighs On Outlook For Canadian Drillers
Canadas oil industry earnings are expected to decline 19% over the course of 2023.Falling natural gas prices is one of the main culprits behind the more negative outlook.Still, despite the grim earnings outlook, Wall Street still believes that Canadia…
Using High Chrome Pumps in the Mining Wastewater Industry
Industrial mining is a gritty business, and the pumps used to dewater sites and move slurries bear the brunt of the wear. Slurry pumps with high-chrome iron wear parts are purpose-built to extend the life of integral components even while working with…
U.S. oil industry flags concern about EPA's methane 'super emitter' plan
WASHINGTON, Feb 13 (Reuters) - U.S. oil industry groups said on Monday they are concerned the Biden administrations proposed plan to crack down on methane emissions gives too much power to environmental advocacy groups, by forcing companies to react w…