The number of US oil and natural gas rigs slipped by 15 to a total of 913 last week -- the third consecutive week of declines, according to Baker Hughes. Oil drillers idled seven rigs, bringing that count to 736 units, the lowest level since June.
Wind turbine technician is the fastest-growing job in US, and schools are listening by creating programs specifically design to train the next generation of workers. Iowa Lakes Community College professor Daniel Lutat said the industry needs about another 250,000 people in the field.
Stella McCartney's fashion label features animal-friendly luxury designs, Cradle to Cradle Gold certification for its organic yarn and has undergone a fiber-sourcing supply chain assessment. The latest effort is a plan to use microsilk created by Bolt Threads, which minimizes resource use in the manufacturing process.
Demand for petroleum products climbed 2.4% year-on-year to over 20.2 million barrels per day last month, marking the highest level of demand for the month of September in a decade, according to the American Petroleum Institute. Gasoline deliveries were down 0.8% from a year ago to 9.4 million barrels per day, while distillate deliveries rose 3.4% to over 4 million barrels per day.
Alaskan officials have approached several foreign entities in recent months, including banks, sovereign wealth funds and energy producers, in an attempt to persuade them to invest in the state's moribund energy sector. China Investment Corp. and state-owned Chinese energy producer Sinopec both showed willingness to invest in a proposed natural gas pipeline, but Alaska's efforts could fall apart since energy deals backed by foreign capital face federal reviews.
Schlumberger and Baker Hughes anticipate a slowdown in production investments in North America as US drillers face pressure to improve returns, foreboding a challenging and uncertain fourth quarter for the oilfield services industry. However, Schlumberger Chairman and CEO Paal Kibsgaard says prices could pick up in the long term as slower spending by producers in North America and elsewhere helps stabilize the oil market.
Heavy investments in capacity expansions and the availability of cheap crude have boosted refining output in the Midwest to a record 4.06 million barrels of crude per day in recent months, helping the Midwest region reduce its reliance on the Gulf Coast. In the early 2000s, the Gulf Coast would deliver about 3.4 million barrels of crude and refined products per day to the Midwest, but that figure fell by 50% in 2016.
The Environmental Protection Agency abandoned proposals to change the Renewable Fuel Standard after an intervention from President Donald Trump. The move is a blow to refiners, which had pressed the agency to ease the compliance burden.
Deepwater Wind will use a port and other facilities in New Bedford, Mass., as its center of operations as it moves forward with the 144-megawatt Revolution offshore wind project off the coast of the state, according to the company. CEO Jeffrey Grybowski said the wind farm would occupy 20% of the zone and would serve as the first of series of projects the company has planned there.
MidAmerican Energy has kicked off plans to repower more than 700 turbines across three wind sites in Iowa beginning with the Century Wind Farm in Hamilton and Wright counties, said spokesman Adam Jacobi. He added that the upgrade is expected to increase output of each turbine by between 19% and 28%.
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