-Southwestern Energy vice president Jim Tramuto said his company would continue to produce shale gas “in all pricing environments” due to cost reductions and efficiency improvements. Via FuelFix, Southwestern cut its well costs 14% and shortened by 61% the time it takes to drill a well from 2007 to 2013. Steady shale gas production in spite of low prices bodes well for the $133 billion in U.S. petrochemical projects announced since 2010.
-Eastman Chemical completed its $2.8 billion acquisition of global specialty chemical company Taminco. Taminco’s former specialty amines and crop protection units will be folded into Eastman’s additives and functional products segments. Eastman said Taminco’s functional amines business would become part of its specialty fluids and intermediates segment.
-The Texas Railroad Commission this week adopted a rule that will increase requirements for pipeline developers seeking common carrier classification. Effective March 1, applicants will be required to produce additional documentation such as a third-party transportation contract in support of their common carrier classification requests. The classification allows a pipeline to use eminent domain to secure right-of-way.
-Meanwhile, the American Petroleum Institute on Thursday said it is willing to accept new limits on VOC emissions from hydraulically fractured oil wells to avoid broader federal methane rules. Via Bloomberg, the industry’s methods for reducing VOCs would also help reduce methane released during fracking. Environmental groups argue that rules not specifying methane would result in methane being released during transport and refining.
-World Point Terminals on Thursday said an out-of-control tug and barge unit damaged barge and ship docks at its Galveston, Texas, terminal. The company said it was still assessing the damage and that the ship dock would be temporarily out of commission. The third party operating the tug and barge unit has accepted responsibility for the incident.
