(Oil Price) – China is on track to import record-high volumes of ethane from the United States this month as Chinese and other Asian petrochemicals producers rush to secure replacement feedstock amid plunging naphtha and liquefied petroleum gas (LPG) supply from the Middle East. China is expected to import as many as 800,000 tons of U.S. ethane in April, which
Oil and Gas 360 FORT WORTH, Texas, Sept. 23, 2020 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range” or the “Company”) announced that it has signed a long-term ethane supply agreement with PTTGC America LLC (“PTTGCA”) to become an anchor supplier for a proposed world-scale ethylene cracker in Appalachia. This agreement is contingent upon PTTGCA reaching a final investment decision, which
U.S. chemical, plastics plant investment of $202 billion is direct result of shale gas growth: ACC The American Chemistry Council (ACC) released data today and the trade group has determined that U.S. chemical and plastics industry investment linked to plentiful and affordable domestic supplies of natural gas and natural gas liquids (NGLs) from shale has surpassed $200 billion. Summary: Since 2010,
Beginning a transition of the petrochem industry over the next 12 years From McKinsey Location has been the key to success in petrochemicals: playing in emerging markets and accessing cheap feedstock. As the industry shifts, companies will have to work harder on core capabilities and strategy. Below the surface of the record profits petrochemical companies have been reporting over the past
Houston-based Kinder Morgan, Inc. (ticker: KMI) put its Utopia Pipeline into service, initiating delivery of ethane from Harrison County, Ohio, to Windsor, Ontario, Canada. The 270-mile Utopia system has an initial capacity of 50,000 barrels per day (bpd) that can be expanded to more than 75,000 bpd, Kinder Morgan said in a statement. “We are extremely pleased to have placed
INEOS and China’s SP Chemicals sign long term supply agreement for U.S. ethane Agreement includes construction of the largest ethane carrier ship ever built The deal will involve the construction of a 95,000cbm capacity ship which is expected to be delivered in 2019. Known in the US as a ‘Very Large Ethane Carrier’ or VLEC it will be the largest
First polyethylene shipment from mega-plant is slated for export from Houston in October ExxonMobil (ticker: XOM) Chemical Company started production on the first of two new 650,000 tons-per-year high-performance polyethylene lines at its plastics plant in Mont Belvieu, Texas. The full project, part of the company’s multi-billion dollar expansion project in the Baytown area and ExxonMobil’s broader Growing the Gulf expansion
Ethane’s domino effect in Pennsylvania The shale energy revolution is famous for jump-starting natural gas production in Appalachia, with Pennsylvania and Ohio at the center of a drilling boom during the past decade from which thousands of people flourished from good jobs related to natural gas extraction. But putting people to work drilling and producing natural gas and building pipelines to transport it
Natural gas production has increased aggressively over the last 10 years after the shale revolution unlocked the door to vast new resource potential. In the U.S., marketed natural gas production has increased from 53.2 Bcf/d in 2006 to 78.9 Bcf/d in 2015, an increase of 48.3% according to EIA statistics. The increase in natural gas production has also created a
Range expects annual uplift of $90 million in net cash flow once all three pipelines are online Range Resources (ticker: RRC) has always prided itself on optionality and takeaway capacity, and the commissioning of the Mariner East 1 pipeline is about to add to its portfolio. Mariner East 1 will be fully operational in February 2016, according to an article
Increasing takeaway capacity, reduced debt, creating profit from byproducts, 20% growth rate As the oil and gas industry dives into 2016, energy executives and investors alike are hoping the new year can distance itself from the bull market of 2015. Despite the 14 (going on 15) month commodity price downturn, some companies have positioned themselves for capturing the inevitable rebound
An Exclusive Interview with Keith Burdette, Secretary of Commerce for West Virginia Coal has powered West Virginia’s economy for centuries. Generations of West Virginians have come and gone in the Mountain State, and its stalwart blue-collar coal industry continuously attracts the next wave of young people in search of a career in the rolling hills of Appalachia. But the latest generation
