Refining helps oil majors' Q3 earnings | Chemical production is indicator for global economy | Chevron expects Calif. refinery to reach full capacity in 2013
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November 6, 2012
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Refining helps oil majors' Q3 earnings
Profits from refining operations boosted third-quarter earnings reports from Exxon Mobil, Royal Dutch Shell, BP and Philips 66, with BP saying that its quarterly refining and marketing profit set a record. The New York Times (tiered subscription model) (11/1), Bloomberg Businessweek (10/31), Bloomberg Businessweek (10/30), Nasdaq.com/Dow Jones Newswires (11/2)
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Chemical production is indicator for global economy
The global chemical market provides a good gauge for the global economy as the industry's output is a building block for various consumer products, according to Anton Ticktin, a partner at investment bank Valence. The shale gas boom in the U.S. is set to spur industries such as construction, given the cost advantages enjoyed by U.S. producers. "Chemicals go into everything, they are part of the first step into the creation of so many different products," which provides "insight into the state of so many industries and sectors," Ticktin said. Forbes (11/1)
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Chevron expects Calif. refinery to reach full capacity in 2013
Chevron's refinery in Richmond, Calif., is expected to return to full production during the first quarter of 2013, the company said. A fire broke out at the plant's crude unit early in August, and the incident continues to be investigated. "This is the most definitive statement we've made about a startup of the unit," spokesman Kurt Glaubitz said. The Oakland Tribune (Calif.) (11/2)
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Chemical Technology News
Milliken showcases sustainable packaging additives
Milliken Chemical touted the sustainability of additives for packaging applications, including the Millad NX 8000 and Hyperform HPN-20E nucleator, at a recent trade event. "We're always thinking from a sustainable standpoint. We think about each component of the packaging value chain and work to take our sustainable story to the next level," said Heather Newland of Milliken's North American unit. PlasticsToday.com (11/2)
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Energy, Sustainability & SafetySponsored By
Researchers find quick way to convert algae into biocrude
Researchers at the University of Michigan have found a way to turn marine algae into biocrude by "pressure cooking" it in intense heat for as little as one minute. "My guess is that the reactions that produce biocrude are actually much faster than previously thought," said Phil Savage, a professor of chemical engineering. The researchers emphasized the need for further study of the process. DomesticFuel.com (11/2)
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Biological Engineering & Pharmaceuticals
StemCells, R Biomedical unite to develop iPS cell lines and reagents
R Biomedical and StemCells agreed to jointly develop cell lines and reagents for use in human induced pluripotent stem cell studies aimed at regenerative medicine. The partners said they have commercialized their first product together, an "ultra-primary" human fibroblast cell line designed for iPS cell generation. Genetic Engineering & Biotechnology News (11/1)
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Materials & Nanotechnology
Scientists develop low-cost, carbon-made solar cells
Scientists led by Zhenan Bao, a chemical engineering professor at Stanford University in California, have developed unconventional solar cells with parts made of inexpensive and flexible carbon materials. However, the cells are only 1% efficient, compared with typical solar panels' mean efficiency of 15%. Bao believes that enhanced nano-materials and manufacturing techniques can boost the cells' efficiency. Forbes (10/31)
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Education & Government Update
U.S. universities give way to foreign competition for patents
The U.S. Patent and Trademark Office and the U.S. Department of Commerce say more patents are being awarded to inventors and researchers on foreign soil, while fewer such breakthroughs are coming from public research universities in the U.S. Brad Fenwick of Elsevier, formerly a vice president at Virginia Tech, says greater support for U.S. universities is needed, along with changes in the institutions themselves that could free up more innovation in science and engineering. U.S. News & World Report (10/29)
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Report: DoD can do more to recruit qualified STEM professionals
Like many organizations these days, the U.S. Department of Defense is trying to fill engineering, cybersecurity and other jobs related to science, technology, engineering and math. A report by the National Research Council and the National Academy of Engineering offers several suggestions to make the DoD more competitive with private industry, such as offering new hires greater opportunities to work with the latest technological breakthroughs. FederalNewsRadio.com (10/31)
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Career Focus
Don't put off finding solutions for procrastination
Procrastination is often caused by a fear of making mistakes or a dislike of being told what to do, says Jay Earley, a psychotherapist and author of "Taking Action." Some ways to tackle the problem include writing down what you have to gain from ending procrastination and enlisting a buddy to help keep you on track, he says. USA Today (11/4)
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Institute News
Institute offices reopen following storm
AIChE's offices in New York and Connecticut have re-opened following power outages caused by last week?s major storm. Phone lines and e-mail contact have been restored. While some e-mails were delivered after being held in queue, others were returned and will need to be re-submitted. AIChE apologizes for any inconvenience.
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Process Safety Boot Camp trains staff on-site
AIChE and its Center for Chemical Process Safety are conducting Process Safety Boot Camp, an intensive, four-day course taught at company locations. Designed to quickly bring new chemical engineers up to speed on the fundamentals of process safety, the course includes numerous case studies and workshops and can be tailored to an organization’s particular needs. Learn more.
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SmartQuote
Whoever is winning at the moment will always seem to be invincible."
-- George Orwell,
British novelist and journalist
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