Industry singed by backfiring debate questions
October 30th, 2015Prejudicial interrogation singed the oil and gas industry while backfiring on its CNBC practitioners during the third Republican presidential debate Oct. 28.
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Prejudicial interrogation singed the oil and gas industry while backfiring on its CNBC practitioners during the third Republican presidential debate Oct. 28.
The overall US drilling rig count dropped 12 units to 775 rigs working during the week ended Oct. 30, resuming its downward trend after sitting unchanged a week ago, according to data from Baker Hughes Inc. The new total is the lowest since Apr. 26, 2002.
Chevron Corp. reported third-quarter earnings of $2 billion, down from $5.6 billion in third-quarter 2014. The sharp decrease in earnings and budget cuts will result in the reduction of 6,000-7,000 jobs, the company said.
Marathon Petroleum Corp. has canceled a major upgrade of its 522,000-b/d Garyville, La., refinery.
South Korea’s Lotte Chemical Corp. has let a contract to CB&I, Houston, to execute preliminary services related to construction of an associated monoethylene glycol (MEG) plant to be built next to its joint-venture project with Axiall Corp., Atlanta, for a 1 million-tonne/year ethane cracker in Lake Charles, La.
Russia’s PJSC Gazprom Neft, St. Petersburg, has started construction of a water treatment plant for sulfur-alkaline waste and process condensate as part of the ongoing modernization and upgrade of its 12.15 million-tonne/year Moscow refinery.