The US Navy identified tankers it alleges were attacked by Iran in the Strait of Hormuz on Thursday as the Norwegian-owned Front Altair and the Japanese-owned Kokuka Courageous, and released a video the Navy says shows Iranian special forces removing an unexploded mine from the latter ship. "Iran categorically rejects the US unfounded claim with regard to 13 June oil tanker incidents," the Iranian mission to the United Nations said in a statement released Friday morning.
Although world oil demand will continue to grow in 2020, that growth will be eclipsed by surging output led by the US shale industry, the International Energy Agency said in a report that downgraded its forecast for global oil demand for a second straight month. The IEA added that government stimulus measures and robust consumption in the developing world should be stabilizing factors.
Natural gas is in demand as a steppingstone toward lower carbon emissions. US suppliers have responded with increased supply and derivatives have followed suit. "US dominance of global natural gas derivatives looks set to persist in the long term due to the huge volumes of gas being produced from onshore shale deposits," writes Owain Johnson of CME Group.
Australia has become China's primary supplier of natural gas, responsible for over 53% of China's LNG imports during the first five months of 2019, up from about 40% in the same time period of 2016. Booming US gas producers supplied only about 10% of China's imports in 2018, a market that has been cut off by the ongoing trade dispute.
ExxonMobil and SABIC, Saudi Arabia's state petrochemicals company, have agreed to build a chemical complex near Corpus Christi, Texas, that will include what would be the world's largest steam cracker. The plant will convert Permian Basin-produced hydrocarbons into ethylene.
Three energy companies want to build liquefied natural gas plants in the Brownsville, Texas, area, which could result in a combined $40 billion investment. Booming production and limited land availability near ports like Houston and Corpus Christi have companies looking elsewhere along the coast.
The Philadelphia City Council has approved plans for a liquefied natural gas plant in southwest Philadelphia. The bill's sponsor, Councilman Derek Green, said the plant would provide cleaner fuel for customers currently using diesel and would generate $1 million annually for Philadelphia Gas Works.
API Course Offering | Fundamentals of Auditing and Lead Auditing, July and August 2019
This two-day course covers auditing fundamentals and auditing processes that are unique to the API program. The third day, the Lead Auditor course offers additional information on leading a team. Participants will learn how to apply the principles, procedures and techniques of effective audits, as well as how to manage the audit process.
Presented by: Bureau of Quality Surveillance, Inc., July 3-5, July 8-10, August 19-21; Mireaux Management Solutions, July 15-17; AxiomLogics, Inc., July 22-24, August 19-21; Global Management Solutions Ltd., July 22-24; ICO International Group, July 22-24; Aston Technical Consulting Services, LLC, August 12-14; Career Performance Enhancement, LLC, August 19-21. To register, visit the API-U Calendar. To learn more about the new Auditor Certification Program, visit API Auditor Certifications.
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