Tag: oil and gas

Marathon Petroleum has planned an approximate $23 billion buyout merger to buyout fellow refiner Andeavor, which will allow Marathon to capitalize on major trends in the energy sector.

ABB has announced that it will provide integrated ABB Ability automation and safety systems to Statoil’s new Johan Castberg oil field development project in Norway.

The U.S. oil drilling rig count rose for the fourth week in a row and ended the month sharply higher as producers plan to boost output as they reap profits from crude trading near three-year highs.

AUMA has launched its new line of explosion-proof variable-speed valve actuators for use in potentially hazardous environments.

Oil and gas producer Concho Resources Inc. has reported that will buy smaller RSP Permian Inc. in an all-stock deal valued at approximately USD $8 billion, making it one of the biggest producers in the Permian Basin.

Petróleos Mexicanos (Pemex) has signed a contract with the domestic company Olstor Services to increase its oil product storage capacity.

U.S. energy companies added oil rigs for a second week in a row as crude prices hover near three year highs. This has lead oil drillers to boost spending plans for the rest of this year.

The service companies that map underground pockets of oil, drill the wells and lift crude from miles below are generating new amounts of data they never before realized could be valuable.

BP has sanctioned the Mad Dog Phase 2 project in the United States. Mad Dog Phase 2 will include a new floating production platform with the capacity to produce up to 140,000 gross barrels of crude oil per day from up to 14 production wells.

In 2018 purchases of industrial valves will exceed $64 billion. Most of these purchases will be made or influenced by 2000 companies and just 20,000 people (1). Two hundred companies will purchase 20 percent of the total. Several large company purchases will exceed $500 million each. The top 20 companies will account for 7 percent of the total. Written by Robert McIlvaine of The McIlvaine Company.