CEO Gone, CITGO Names New Board As Venezuelan Political Intrigue Continues

February 24, 2019

 

The US division of Venezuela’s state-owned oil company, as part of a political struggle with the Maduro government, has a new board of directors for CITGO in cooperation with the National Assembly political opposition headed by Juan Guaidó, the man who recently declared himself acting president of that nation with the blessings of President Donald Trump
 

Oil prices rise as OPEC production declines

By Alex Mills

 

The price of crude oil continued its recovery last week on news of a reduction in oil production worldwide and positive economic news.

The Organization of Petroleum Exporting Countries (OPEC) released its monthly production report on Tuesday revealing a decline of 797,000 barrels per day (b/d) in January to 30.81 million b/d, which is just below its projections for oil demand in 2019.

OPEC members and some 10 non-OPEC oil-producing countries, which includes Russia, agreed in December to reduce oil production by some 1.2 million b/d (OPEC’s commitment is 800,000 b/d) in reaction to an oversupply that forced prices to drop some 40 percent in just three months.

Saudi Arabia had the largest reduction of 350,000 b/d, and Russia agreed to cut 230,000 b/d.

Additionally, crude oil production in Iran, Libya and Venezuela is expected to be less than current quotas, which should reduce supplies also….
 

The Innovative, the Surprising and the Amazing At Texas Energy Day At the Capitol

February 20, 2019

 

Reducing pollution, increasing pipeline safety and understanding newer energy technologies were among the themes at the second annual Texas Energy Day at the state capitol on Wednesday.

And it was fun.

Hundreds of people (including some well-known politicians and their well-known aides) queued up to see demonstrations, including one in which a daring engineer dips an Oreo into LNG and then chows down on the cookie.

Scroll down.

 

 

It’s an LPG powered school bus and yes it looks like most other such buses, but the manufacturer Blue Bird brought it along to the Capitol to illustrate that these special buses are now in mass production.

There have been 12,000 Blue Bird Propane Buses built.

The buses are safer, the manufacturer said, because of the clean burning fuel, but also in accidents.

It’s a gas.

Propane is non-toxic and non-poisonous, Blue Bird points out, it doesn’t ignite easily and poses no harm to groundwater, surface water, or soil, with the tanks built thick and durable.

And propane doesn’t spill, pool or leave any residue when released, but dissipates into the air.

 

 

 

This is what’s under the hood of the Blue Bird.

 

 

Shell Oil brought out a replica show car of the No. 22 Shell/Pennzoil Team Penske car, driven by Joey Logano in NASCAR (Logano was the youngest winner in the NASCAR Cup Series at 19 years old) and parked it right on Colorado Street next to the Capitol.

Shell and Pennzoil supply fuels, lubricants and related products to the Penske organization.

The company points out that it wants to remain a leader not only in supporting winners but in working to win in the fight against pollution and is taking a leading role in the new Alliance To End Plastic Waste.

 

 

Down Colorado St., Rosen parked its impressive Rapid Response Unit, intended to arrive in normal and especially emergency conditions when pipelines need to be quickly examined and technically inspected for possible problems such as cracks.

The company touts the R-3 service, with short response times, potentially delivering diagnostic information on pipelines within 48 hours, the company said, aimed at putting pipelines in compliance with regulations and codes.

 

 

Inside the response unit, Rosen field engineer Andy Tufano stands next to the “Pig,” one of the pipeline probes (Hybrid Tools) that tests pressure and pipeline resilience and uses geometry measurements along with mapping technologies to assess the reliability of pipelines from the inside of the pipe.

Engineers say they call it a “pig” because it makes a squealing sound as it moves through the pipe.

 

 

 

The Texas Oil and Gas Association displayed its learning stations that teach, in a hands-on manner, the details of oil and gas extraction methods, including fracking.

The TXOGA stations appear in schools all over the Southern US (and more appearances are on the way) for mobile learning — and are accompanied by guides such as Brook Robbins, who can answer the many questions children and grownups have about the safety and complexity of oil exploration, production and delivery.

 

 

 

The most dramatic demonstrations at Texas Energy Day were displayed by engineer Britni Johnson on behalf of Cheniere, which is processing and producing Liquid Natural Gas (LNG) at Corpus Christi and Sabine Pass.

Britni demonstrates the safety of containers and pipes that carry LNG — and especially the safety of LNG itself — by immersing a rose into a container of LNG, bringing out a brittle rose that can be smashed on the table.

It illustrates the extreme cold temperature of LNG, but also its relatively benign nature when compared to other fuels.

When spilled, LNG will dissipate rather than catch on fire, its cryogenic properties momentarily freezing the surface onto which it’s spilled, but the cold dissipates quickly in warm conditions.

And LNG won’t pollute water, since it’s cold properties when spilled into water would warm and dissipate into its gaseous form, rising into the air.

Quite an experiment for astonished onlookers at the Cheniere display, until Britni dips a cookie into the LNG vat, then pulls it out and takes a bite.

More astonished onlookers — but she tells them its safe, the gas has dissipated.

And she seems to enjoy the cookie.

The Texas Energy Report suggests that cookies frozen in LNG, rather than Twinkies fried in oil, would be a hit in the food competition at the Texas State Fair this fall.

 

There were more than 60 organizations involved in TXOGA”s Texas Energy Day. Participants in Texas Energy Day are urging lawmakers to hold fast to the policies that have allowed Texas to safely and productively transform the state’s natural resources into hundreds of thousands of good jobs and critical state and local tax revenue.

As previously noted here at The Texas Energy Report, in fiscal year 2018, the Texas oil and natural gas industry paid more than $14 billion in state and local taxes and state royalties – amounting to $38 million a day to state and local coffers.