The USA Department of Energy (DOE) has launched a program to repurpose federal lands, including sites used for the country’s nuclear weapons program, into leaseholds for clean energy production. The Cleanup to Clean Energy initiative is an “innovative effort to repurpose parts of DOE-owned lands—portions of which were previously used in the nation’s nuclear weapons program—into the sites of clean-energy generation”, the department said in a press release. About 70,000 acres have been identified in five nuclear development-related sites for potential use under the initiative: the Hanford Site in Washington, the Idaho National Laboratory, the Nevada National Security Site, the…
Author: Automotivedealernews.com
Kraken AutomotiveAugust 1, 2023August 1, 20230 comments5 Essential Tips for Back-to-school Car Care As you prepare to head back to school in Florida, it’s crucial to ensure your car is in top-notch condition to handle the hot and humid weather. Here are five essential tips for back-to-school car care in Florida: Regularly Check and Top-Up Fluids: In the sweltering Florida heat, your car’s fluids play a vital role in maintaining its performance and preventing breakdowns. Regularly check and top-up essential fluids such as engine oil, coolant, transmission fluid, brake fluid, and windshield washer fluid. Keep an eye on the…
Enterprise Products Partners doesn’t just extract mixed NGLs from associated gas at processing plants, transport that Y-grade to the NGL hub at Mont Belvieu, and fractionate NGLs into “purity products” like ethane, propane and butanes. The midstream giant also distributes purity products to Gulf Coast steam crackers and refineries, converts propane to propylene at its two propane dehydrogenation (PDH) plants, distributes ethylene and propylene, transports propane and butane to wholesale markets across much of the eastern half of the U.S., and exports a wide range of products — ethane, LPG, ethylene and propylene among them — from two Enterprise marine…
Texas-based Diamondback Energy Inc. has reported a net income of $556 million, or $3.05 per diluted share, for the second quarter, dropping 60 percent from its previous-year quarter net income of $1.4 billion, or $7.93 per diluted share. Diamondback’s net cash from operating activities was $1.51 billion for the second quarter, down 11.3 percent from $1.7 billion in the same period in 2022. The company’s total revenue for the quarter was $1.92 billion, down 30.6 percent from $2.77 billion in the second quarter of 2022, according to the company’s earnings release Monday. During the second quarter of 2023, Diamondback spent…
Oil halted its rally in thin summer trading, weighed down by a risk-off tone in markets and technical barriers to further advances. Futures in New York eased to settle near $81 a barrel with a stronger dollar weighing on the commodity. While crude’s summer rally has erased its year-to-date losses, traders have been bracing for a technical correction. Oil has traded in overbought territory on its relative strength index on several occasions in recent sessions, signaling a potential pullback. Volumes also remain muted in light summer trading, while volatility is at the lowest since January 2020. Crude surged last month…
India’s imports of Russian oil dropped for a second month and are expected to slip even further as the key OPEC+ producer starts trimming exports in August to help balance the global market. Daily volumes fell to 2.09 million barrels last month, down from 2.11 million barrels a day in June, according to Viktor Katona, the head of crude analysis at Kpler. Inbound shipments from Saudi Arabia also dipped, while Iraqi imports rose to a five-month high, preliminary data from the analytics firm show. However, Russian imports are expected to rebound from October, with volumes potentially rising as high as…
McDermott International Ltd. has secured a project management consultancy (PMC) and engineering, procurement, and construction management (EPCM) contract for Indian Oil Corporation Limited’s (IOCL) polypropylene expansion and new ethylene derivative unit project, McDermott said Monday. IOCL’s Naphtha Cracker Expansion (Phase II) project is located at the Panipat Refinery and Petrochemical Complex, which is 62 miles (100 kilometers) from New Delhi. The value of the contract was not disclosed. The project will be managed and engineered from the company’s office in Gurugram, India, McDermott said in a press release. Mcdermott said that the project would increase the ethylene production capacity of…
In a statement posted on its website on Monday, ADNOC revealed that Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, approved ADNOC’s plan to bring forward its net zero ambition to 2045. The approval came in a meeting of the executive committee of the ADNOC board of directors at ADNOC headquarters, the company highlighted in the statement, adding that ADNOC is the first company in its peer group to accelerate its net zero target to 2045. Nahyan and members of the executive committee called on ADNOC to…
OMV said in a media statement that the Wittau Tief-2a exploration well in lower Austria has hit natural gas. After five months of operation, the well was drilled to a final depth of 16,400 feet, the company outlined. OMV said it is the largest natural gas discovery in Austria in 40 years and highlighted an expected “significant contribution” to the security of supply for its customers. “The positive result of our exploration is an exciting news for OMV and its customers,” said Alfred Stern, Chairman of the Executive Board and CEO of OMV AG. “As we continue to work on…
Macquarie strategists projected that U.S. crude inventories will be down 9.3 million barrels for the week ending July 28 in a new report sent to Rigzone on Monday. “This follows a 0.6 million barrel draw for the week ending July 21, with the total U.S. crude balance realizing much looser than our expectations and exhibiting extremely strong implied supply,” the strategists said in the report. “While crude balances have been realizing softer than our expectations MTD, we believe last week’s particularly disappointing draw can conceivably be attributed to inherent noise in the data,” the strategists added. “Should that phenomenon repeat…