The UK's 30th offshore licensing round, which ended Tuesday, attracted 96 bids for over 800 blocks in oil and natural gas areas across the UK Continental Shelf, the country's Oil & Gas Authority says. The agency, which received applications from 68 companies, said the response was strong in spite of "the difficult economic environment."
Ineos plans to buy a two-thirds stake in two oil and natural gas exploration licenses in the North Sea from Siccar Point Energy. The agreement, which involves areas north of the Shetland Islands, follows Ineos' September acquisition of DONG Energy's oil and gas business in the North Sea.
The ice-covered Oraefajokull volcano in southeast Iceland is showing signs of activity, prompting authorities to raise the alert status. Satellite images show a caldera has formed in the glacier, and residents have noticed a sulfur odor, indicating geothermal activity.
Researchers say seawater can go more than 10 kilometers below the seafloor -- deeper than previously thought -- resulting in a cooling effect on Earth's upper mantle. Scientists used a new method to study levels of chlorine in rocks to identify the presence of seawater.
The US, Mexico and Canada were unable to reconcile major differences during the fifth round of North American Free Trade Agreement negotiations. US Trade Representative Robert Lighthizer said, "Thus far, we have seen no evidence that Canada or Mexico are willing to seriously engage on provisions that will lead to a rebalanced agreement."
Akzo Nobel has stopped discussing a merger with Axalta Coating Systems and will focus on independent growth, according to Akzo Nobel CEO Thierry Vanlancker. Nippon Paint Holdings has reportedly bid for Axalta.
Demand for flexible packaging in Mexico is driving Dow Chemical's polyethylene resin sales, said executive Paloma Alonso. She said Dow is using DuPont's ethylene copolymers, and pouches remain "a big growth area" in Latin America.
China may be forced to curtail production at chemical facilities to meet its air-quality targets, a shift that would benefit chemical companies in Europe and the US, according to research firm UBS.
Industrial companies will realize better content marketing results by doing simple things such as maintaining their websites and regularly adding content, Dianna Huff writes. Search engine optimization is important, but companies should try other means of reaching targets, such as an email newsletter, she writes.
The James Beard Foundation is working with restaurants around the US to reduce food waste and adopt circular models. Other businesses are employing vertical farming and recycled waste to make the most of limited resources.