Epoxy
June 20, 2022
Rigs Increase
North America Adds 30 Rigs Week on Week
North America added 30 rigs week on week.
North America added 30 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on June 10.
Twenty-four of these additions came from Canada, while the remaining six came from the U.S., Baker Hughes’ count revealed. The total North America rig count now stands at 874 rigs, Baker Hughes outlined. The company’s previous rig count, which was published on June 3, showed that the total North America rig figure had jumped by 14 week on week.
Canada’s 24 weekly rig additions take the country’s total rig count up to 141, comprising 94 oil rigs and 47 gas rigs, and the U.S.’s six weekly additions take the total U.S. rig count up to 733, comprising 580 oil rigs, 151 gas rigs, and two miscellaneous rigs, Baker Hughes highlighted. Of the total U.S. rig count of 733, 715 rigs are land rigs, 15 are offshore rigs, and three are inland water rigs, Baker Hughes pointed out.
Looking at year ago figures, North America has added 320 rigs year on year, according to Baker Hughes. Of this figure, 272 rigs have come from the U.S. – comprising 215 oil rigs, 55 gas rigs, and two miscellaneous rigs – while 48 have come from Canada – comprising 35 oil rigs and 15 gas rigs – Baker Hughes revealed.
Baker Hughes, which has issued the rotary rig counts to the petroleum industry since 1944, describes the figures as an important business barometer for the drilling industry and its suppliers. The company obtains its working rig location information in part from Enverus, which produces daily rig counts using GPS tracking units.
To contact the author, email andreas.exarheas@rigzone.com
https://www.rigzone.com/news/north_america_adds_30_rigs_week_on_week-13-jun-2022-169311-article/
June 16, 2022
Railroads, Union Negotiations Update
“Ticking Time Bomb” Begins As Major US Railroads, Union Labor Seek Biden Intervention Amid Rail Shutdown Concerns
by Tyler DurdenThursday, Jun 16, 2022 – 05:45 AM
Negotiations between major railroads and their unions have stalled, setting up for what could be a significant railroad shut down before the midterm elections that could paralyze an already-strained US supply chain.
Railway Age reports the National Mediation Board (NMB) on June 14 began what could be a “ticking time bomb” toward a national railroad shut down within 90 days, following its board of three, two Democratic members agreeing with rail labor and NMB’s only Republican disagreeing that means a voluntary agreement to amend unionized rail worker wages, benefits and work rules won’t be achievable.
Talks between rail labor (12 rail craft unions bargaining in two coalitions on behalf of 115k rail workers) and major railroads, including Union Pacific Corp. and BNSF Railway Co., will enter a 30-day cooling period this Friday. Then the Biden administration may appoint a Presidential Emergency Board (PEB) to resolve the dispute.
“The railroads would consider accepting the proffer, but the union leadership has already indicated that it will not,” the National Carriers’ Conference Committee (NCCC), which represents major railroads, said in a statement. “The railroads expect a PEB will be appointed in this dispute before the end of the 30-day cooling-off period, as has been the case in prior unresolved national rail negotiations,” NCCC continued.
Once the PEB is appointed, a second cooling period with a maximum 30-day clock begins. At the same time, the PEB listens to arguments from rail labor and railroads and issues its non-binding recommendations. The third 30-day period is where things could get problematic, just before the elections, and if both parties don’t agree, either side can declare “self-help,” meaning a strike would materialize.
A rail strike would devastate the economy even more, as approximately 28% of freight movement is transported on complex rail networks across the country. Depending on the strike’s duration, supply chains would be further snarled and unleash unwanted inflation.
Let’s hope rail labor and major railroads can agree on wages, benefits, and work rules immediately following the PEB appointment and unions do not resort to a strike in the third 30-day cooling period right before the midterm elections.
June 16, 2022
Railroads, Union Negotiations Update
“Ticking Time Bomb” Begins As Major US Railroads, Union Labor Seek Biden Intervention Amid Rail Shutdown Concerns
by Tyler DurdenThursday, Jun 16, 2022 – 05:45 AM
Negotiations between major railroads and their unions have stalled, setting up for what could be a significant railroad shut down before the midterm elections that could paralyze an already-strained US supply chain.
Railway Age reports the National Mediation Board (NMB) on June 14 began what could be a “ticking time bomb” toward a national railroad shut down within 90 days, following its board of three, two Democratic members agreeing with rail labor and NMB’s only Republican disagreeing that means a voluntary agreement to amend unionized rail worker wages, benefits and work rules won’t be achievable.
Talks between rail labor (12 rail craft unions bargaining in two coalitions on behalf of 115k rail workers) and major railroads, including Union Pacific Corp. and BNSF Railway Co., will enter a 30-day cooling period this Friday. Then the Biden administration may appoint a Presidential Emergency Board (PEB) to resolve the dispute.
“The railroads would consider accepting the proffer, but the union leadership has already indicated that it will not,” the National Carriers’ Conference Committee (NCCC), which represents major railroads, said in a statement. “The railroads expect a PEB will be appointed in this dispute before the end of the 30-day cooling-off period, as has been the case in prior unresolved national rail negotiations,” NCCC continued.
Once the PEB is appointed, a second cooling period with a maximum 30-day clock begins. At the same time, the PEB listens to arguments from rail labor and railroads and issues its non-binding recommendations. The third 30-day period is where things could get problematic, just before the elections, and if both parties don’t agree, either side can declare “self-help,” meaning a strike would materialize.
A rail strike would devastate the economy even more, as approximately 28% of freight movement is transported on complex rail networks across the country. Depending on the strike’s duration, supply chains would be further snarled and unleash unwanted inflation.
Let’s hope rail labor and major railroads can agree on wages, benefits, and work rules immediately following the PEB appointment and unions do not resort to a strike in the third 30-day cooling period right before the midterm elections.
June 16, 2022
More Chlor-alkali Woes
Westlake declares force majeure on chlor-alkali throughout U.S. system
Jun. 15, 2022 8:06 PM ETWestlake Corporation (WLK)OLNBy: Carl Surran, SA News Editor1 Comment
Westlake (NYSE:WLK) -6.2% in Wednesday’s trading, tumbling to its lowest in more than three months, after it declared force majeure on chlorine and all grades of caustic soda throughout its U.S. system, S&P Global Platts reported.
Westlake (WLK) said its chlor-alkali production “has been directly and adversely impacted due to the sudden and unanticipated failures of critical processing equipment,” according to a letter seen by S&P Global.
Westlake (WLK) did not specify the sites affected by equipment failures, but S&P Global said the chlor-alkali unit in Natrium, West Virginia, has experienced equipment issues since concluding a recent turnaround and was operating at reduced rates.
S&P Global also reported the company has faced brine quality problems from a third-party provider at its Geismar, Louisiana, chlor-alkali unit, and has launched a complex-wide turnaround at its Plaquemine, Louisiana, site, including the chlor-alkali facility.
Westlake’s (WLK) force majeure came a day after top chlor-alkali producer Olin (OLN) said its Freeport, Texas, plant would temporarily idle a “significant portion” of its ethylene dichloride and related chlor-alkali production.
June 16, 2022
More Chlor-alkali Woes
Westlake declares force majeure on chlor-alkali throughout U.S. system
Jun. 15, 2022 8:06 PM ETWestlake Corporation (WLK)OLNBy: Carl Surran, SA News Editor1 Comment
Westlake (NYSE:WLK) -6.2% in Wednesday’s trading, tumbling to its lowest in more than three months, after it declared force majeure on chlorine and all grades of caustic soda throughout its U.S. system, S&P Global Platts reported.
Westlake (WLK) said its chlor-alkali production “has been directly and adversely impacted due to the sudden and unanticipated failures of critical processing equipment,” according to a letter seen by S&P Global.
Westlake (WLK) did not specify the sites affected by equipment failures, but S&P Global said the chlor-alkali unit in Natrium, West Virginia, has experienced equipment issues since concluding a recent turnaround and was operating at reduced rates.
S&P Global also reported the company has faced brine quality problems from a third-party provider at its Geismar, Louisiana, chlor-alkali unit, and has launched a complex-wide turnaround at its Plaquemine, Louisiana, site, including the chlor-alkali facility.
Westlake’s (WLK) force majeure came a day after top chlor-alkali producer Olin (OLN) said its Freeport, Texas, plant would temporarily idle a “significant portion” of its ethylene dichloride and related chlor-alkali production.
Everchem Updates Archive 
Sign Up for Email Updates