Oil

Shell In Planning Stage For Louisiana Expansion

May 20, 2019
commons.org

Shell Chemicals Vice President for Gulf Coast Manufacturing Rhoman Hardy announced the company will advance feasibility plans for a potential $1.2 billion manufacturing expansion at its Shell Geismar facility in Louisiana. At the 841-acre complex in Ascension Parish, Shell Chemical LP would build a world-scale monoethylene glycol plant, pending final engineering, design and investment decisions. A decision to proceed with the project could come from Royal Dutch Shell in 2020. 

Emerald McIntyre / Downtown Arts Alliance

The next installment of the Downtown Gallery Crawl, April 5 from 6-9 p.m., continues to celebrate the 10th Anniversary of the Crawl. Resident guest artists are on hand to talk with patrons about their art at this free event.

The Downtown Gallery Crawl is an opportunity to check out what local artists of all media are creating. The Downtown Arts Alliance is pulling together nine shows in galleries across the Twin Cities, with live music, food, and drink around every corner. The Crawl is entirely free to any patrons interested in what regional artists have to offer.

commons.org

A major increase in crude oil and storage capacity issues could overflow into lower gas prices at the pump.

The Energy Department says the increased production has caused an imbalance with storing crude.  LSU Director for Energy Studies David Dismukes believes the most immediate way the problem will be addressed is by companies lowering gas prices.  

businessinsider.com

Grim news was expected - and delivered - from the Revenue Estimating Conference Monday afternoon.  The state's forecasting panel determined a $103 million dollar reduction in the current fiscal year. 

"We had weakened oil prices and we've gotten a pretty good picture of those figures, and the news is, is bad," the state's chief economist Greg Albrecht told committee members.  The Jindal administration will now be forced to make cuts in the next few weeks for the remainder of the fiscal year. 

businessinsider.com

Falling oil prices are causing companies to cut spending this year.  One of the latest moves is by Lafayette-based Stone Energy Corporation.

This week, Stone announced it plans to cut spending by more than half of what they spent a year ago.  Louisiana Oil and Gas Association Vice President Gifford Briggs say continued low prices are forcing the industry to scale back.  "They (oil companies) are doing what they feel they need to do, it's not unexpected," said Briggs.