oil and gas industry

IEA’s Report States The Impact Of Reducing Methane Emissions

Reducing methane emissions from oil and gas operations is among the most cost-effective and impactful actions that governments can take to achieve global climate goals, said the International Energy Agency (IEA) in a new report, says an article published on Safety4Sea.

Methane

Although methane has a much shorter atmospheric lifetime than CO2 – around 12 years, compared with centuries for CO2 – it absorbs much more energy while in the atmosphere, so it is a potent greenhouse gas with important...

https://mfame.guru/ieas-report-states-the-impact-of-reducing-methane-emissions/

Commentary: What makes Alaska’s oil industry unique?

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

Two words: logistics and politics. These make Alaska’s oil industry unique. It is the longest domestic supply chain in the industry. Alaska’s North Slope is the nation’s most remote and coldest source of crude oil. This environment requires customized equipment able to handle months of subzero temperatures.

Logistics is critical to keeping the oil flowing. But...

https://s29755.pcdn.co/news/commentary-what-makes-alaskas-oil-industry-unique

Texas frac sand supplier Hi-Crush files for bankruptcy

Hi-Crush filed for Chapter 11 bankruptcy protection on Sunday

Hi-Crush Inc. (NYSE: HCR), which supplies frac sand and other proppant and logistics services for hydraulic fracking operations, has filed for Chapter 11 bankruptcy protection.

Houston-based Hi-Crush, along with 21 affiliated companies, filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas on Sunday, after reaching a restructuring support agreement with holders of approximately 94% of its unsecured loans that were due in 2026.

The news was expected as the...

https://s29755.pcdn.co/news/houston-frac-sand-supplier-hi-crush-files-for-bankruptcy

Truck traffic normalizes at faster speeds with less hard braking

80 mph highway sign

Truck traffic is about back to normal on the nation’s highways and interstates, according to a study of 130 million trips by fleet management solutions provider Samsara Networks’ 15,000 customers. Two safety-related items stand out:

More speeding.

Less hard braking.

Samsara looked at traffic and driving before, during and after lockdowns across the United States. It also sampled five cities: Atlanta, New York City, Chicago, Houston and San Francisco. Speeding jumped 40% in those cities early April...

https://s29755.pcdn.co/news/truck-traffic-normalizes-at-faster-speeds-with-less-hard-braking

Texas frac sand firm files for Chapter 11 bankruptcy

Frac sand firm Vista Proppants and Logistics filed for Chapter 11 bankruptcy protection on Tuesday stating it has around $500 million of liabilities, according to court documents.

The Fort Worth, Texas-based company said the unprecedented downturn in the oil and gas industry harmed its financial position.

“After thoroughly evaluating our options and strategic alternatives with our advisors and board of directors, we are confident that this is the best path forward for Vista and our stakeholders,”...

https://www.freightwaves.com/news/texas-frac-sand-firm-files-for-chapter-11-bankruptcy

Port of Mossel Bay – Backbone of SA’s Fishing, Oil and Gas Sectors

Since the commencement of the national lockdown on 27 March 2020, the Port of Mossel Bay has been playing a critical role in the provision of essential services – with special emphasis on the fishing and oil and gas sectors.

Despite the uncertain times, the port has successfully handled seven Liquid Bulk vessels collectively carrying 168 587 kilolitres of liquid bulk cargo and 13 Break Bulk vessels carrying 908 tons of cargo. All safety operations protocols prescribed under the national lockdown...

http://www.sashippingnews.com/2020/05/20/port-of-mossel-bay-backbone-of-sas-fishing-oil-and-gas-sectors/

US offshore operator files for bankruptcy amid COVID-19

Amid COVID-19 crisis and the negative impacts that has brought, Diamond Offshore Drilling Inc. filed for bankruptcy following the unprecedented crash in crude prices that’s affecting demand for oil exploration at sea, as Bloomberg reported.

Specifically, Diamond Offshore Drilling Inc. filed for bankruptcy with debts of more than $2.6bn, blaming the oil price war and the corovavirus outbreak.

As the company informed, conditions worsened “precipitously in recent months,” citing a price war between...

https://safety4sea.com/us-offshore-operator-files-for-bankruptcy-amid-covid-19/

OPEC+ agrees largest ever oil output cut of 9.7 million bpd

OPEC agreed to cut oil output by a record 9.7 million barrels per day, about 10% of global supply, for the months of May and June, followed by another agreement of extending the duration of the proposed 1.5 million barrel per day cut until the end of 2020, instead of 30th of June 2020.

Specifically, according to the new agreement, OPEC+ will experience a cut by eight million barrels per day to the end of 2020 and six million barrels per day till end of April 2022. It aims to support the oil...

https://safety4sea.com/opec-agrees-largest-ever-oil-output-cut-of-9-7-million-bpd/

EU marks record in its LNG imports for 2019

According to the European Commission’s latest gas market report, the EU member states paid around 16.2 million euros for the 108 billion cubic meters of liquefied natural gas they imported last year. Specifically, EU managed to import the highest volume of LNG for 2019.

In fact, last year’s LNG imports marked a record of 48 billion cubic meters, up by 75% in comparison to 2018, as they were mainly boosted due to the lower prices and weaker demand in Asia.

For the records, this is the highest LNG...

https://safety4sea.com/eu-marks-record-in-its-lng-imports-for-2019/

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