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US airlines hiking fares as oil prices drop
Lauren Swan Travel, Hospitality & Event ManagementFor the first time in years, the price of crude oil has dropped significantly — so much so that CNN thinks gas will soon fall below $3 per gallon, prices not seen since November 2008, which generated national attention. Crude oil is currently hovering around $80 per barrel, an almost 25 percent decline since April. Americans are finally beginning to feel like it may be safe to travel again without having to sacrifice half of their biweekly paycheck.
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Asian LNG: Demands for an end to oil‑indexed contracts moves east
Lucy Wallwork Natural ResourcesGas prices in Asia now stand 50 percent higher than those in Europe and three times those in the U.S. A wave of enthusiasm for market-led, hub-indexed pricing models for natural gas has been sweeping eastward from the U.S. since the 1990s, as more traditional oil indexation becomes unfashionable. Now, it is taking hold in the Asia-Pacific region.
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Report: Market for corrosion inhibitors expanding rapidly
Alan Kelsky EngineeringThe use of corrosion inhibitors is expanding rapidly across the world as more plants, refineries and drilling sites come online. In a report published earlier this month, Grandview Research disclosed that the global anti-corrosion market expects significant growth, especially in Asian countries, to $7.55 billion by 2020.
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Local content requirements in the oil and gas sector
Stefanie Heerwig Natural ResourcesWith decreasing oil and gas supplies and increasingly-hard-to-reach reserves, global oil and gas majors have started to invest in frontier areas, many of them in the developing world — like East Africa and Afghanistan, just to name two.
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Why Iran won’t displace Russia as top gas supplier to Europe
Lucy Wallwork Natural ResourcesEver since the unfolding of the Ukrainian crisis in February, there have been regular news reports suggesting various gas sources that might "displace" Russia as the supplier of two-thirds of Europe's natural gas. Buoyed by steadily progressing negotiations over nuclear power and the prospect of an easing of sanctions, the latest candidate has been Iran.
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Bioplastics trends and drivers for greener plastics
Don Rosato EngineeringBy way of an introduction definition, the term bioplastics is not limited to biodegradable or compostable plastics made from natural materials such as corn or starch. Bioplastics is also applied to petroleum-based plastics that are degradable; natural-based plastics that are not necessarily biodegradable; and plastics that contain both petroleum-based and plant-based materials that may biodegrade or not. Bioplastics are distinguished as bio-based and/or biodegradable.
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The end of era: Venezuela’s latest attempt to offload Citgo
Lucy Wallwork Natural ResourcesThe Citgo sign overlooking Fenway Park, home of the Boston Red Sox, is something of a local icon. But many Americans may be unaware of the Venezuelan owners of Citgo, which refines and distributes crude oil through 7,000 U.S. service stations.
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Round Zero and Mexico’s energy reform
Stefanie Heerwig Natural ResourcesNearly one year ago Mexico's government enacted a ground-breaking constitutional reform wrapping over the country's entire energy sector. Since then, President Enrique Peña Nieto has signed 21 secondary laws defining the anatomy of the reform.
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North Sea oil and Scotland’s independence referendum
Lucy Wallwork Natural ResourcesScotland, which has formed part of the United Kingdom since 1707, will vote Sept. 18 in a referendum on whether it wants to become an independent nation. The debate has captured imaginations far beyond U.K. borders, whether due to the draw of the Scots' notoriously fiery and romantic spirit, or due to concerns over the precedent it sets for other separatist nations.
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The top 5 emerging technologies in oil and gas
Lucy Wallwork Natural ResourcesDespite the common misconception, innovative technologies are not confined to renewable energy. They are driving changes in dirty hydrocarbons, too, indeed often making them far less dirty and far more efficient ways of supplying our energy needs. The pace of technological change is quickening. This is in part because the low-hanging fruit in the oil and gas sector, the so-called era of easy oil, is gone. Many of the newest technologies are focused on getting every last drop out of mature fields, or on accessing hydrocarbons in hostile and complex environments.
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