Differentiated chemicals manufacturer Huntsman Corp. said it will increase capacity at its Geismar, LA, worldscale methylene diphenyl diisocyanate (MDI) facilities. Capacity will be increased by 50,000 tons to 500,000 tons using improved process technology developed by Huntsman and will enable the company to support growth of its key customers and leverage the advantages of the Geismar site and its access to U.S. shale gas, strong logistics base and excellent integration, Huntsman said. “The benefits of U.S. shale gas have significantly improved the economics of investing in U.S. facilities, and Huntsman has a number of other investments planned which will take advantage of lower-cost natural gas,” said Anthony Hankins, president of Huntsman polyurethanes. The new capacity is expected to come on-stream in 2014 and will further consolidate Huntsman’s position as the leading MDI producer in the Americas region, the company said. Huntsman also said it will upgrade its downstream specialties production capability at its Rotterdam, the Netherlands site. The cost of the two projects is $135 million.
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People
After serving 11 years as one of three regulators on the Washington Utilities and Transportation Commission (UTC), Patrick Oshie stepped down last Friday. A successor will be appointed by Washington’s Gov.-elect, Jay Inslee. Oshie was a partner in a Yakima, WA law firm when then-Gov. Gary Locke appointed him to the UTC in 2001; he was subsequently appointed to a second six-year term by Gov. Chris Gregoire in 2006. Oshie previously had served as an assistant city attorney in Seattle and an assistant attorney general in Utah, where he also was a law professor.
People
Denver-based Forest Oil Corp. made interim CEO Patrick R. McDonald the company’s permanent chief, prompting speculation by one analyst that “all strategic options remain on the table for the company.” McDonald had served as interim chief since June 21 while the company’s board conducted a search for a replacement for former CEO H. Craig Clark. Clark left the company abruptly, sparking speculation that it was because of a failure to strike a joint venture in the Eagle Ford Shale. Wells Fargo Securities analyst David Tameron said the appointment of McDonald was a positive for the company and could signal more news to come. “We believe the announcement may allow Street speculation surrounding the potential takeout of the company to continue, as a new CEO would have likely entered with a multiyear restructuring road map. From our take, all strategic options remain on the table,” Tameron said in a note.
Forest Oil Makes Interim Chief Permanent
Denver-based Forest Oil Corp. Wednesday said it would make interim CEO Patrick R. McDonald the company’s permanent chief, prompting speculation by one analyst that “all strategic options remain on the table for the company.”
People
Patrick French, 64, an advocate for the U.S. energy industry, died Saturday in Bethesda, MD. French was president of the Foundation for Energy Education and executive vice president of the Texas Alliance of Energy Producers (TAEP), which he joined in 2000 and helped to transform into a strong statewide network with members in 300 cities and 29 states. French was named an industry “legend” by Oil and Gas Investor Magazine in 2010. He wrote numerous articles and was a frequent energy industry commentator on television, with his efforts culminating in the ABC television pilot series, “The Hard Question,” which recently debuted in Dallas and Houston. French formed The Association Development Group in 1991 in Washington, DC, which worked with trade associations, including the Independent Petroleum Association of America. He also served on the board of directors of the Global Energy Management Institute at the University of Houston and on the board of directors of the National Corrosion Institute at Rice University.
One Dead After Explosion at Ohio Drilling Site
One person was killed after an explosion at an oil and natural gas well near Bolivar, OH, in Tuscarawas County, on Monday morning.
People
Enbridge Inc.’s board of directors said Patrick D. Daniel, president and CEO, will retire by the end of 2012. Al Monaco, currently president of gas pipelines, green energy and international, was promoted to the board of directors and is assuming the role of president. The Calgary-based energy transportation firm said Daniel will continue as CEO and a member of the board until his retirement. Daniel joined Enbridge in 1982, became executive vice president in 1988 and assumed the CEO role in 2001. Monaco joined Enbridge in 1995 and has held senior management roles at the corporate level, as well as leadership of the gas transportation, gas distribution and green energy businesses. He also helped Enbridge’s major projects division, which has been responsible for designing and constructing all of the company’s major energy infrastructure projects.
Chief New Mexico Regulator Named on Split Vote
The five-member elected New Mexico Public Regulation Commission (PRC) selected a newcomer, Patrick Lyons, for its chairman on a split 3-2 vote Tuesday among the PRC members. Lyons is promoting a more pro-business approach to the state’s regulatory scheme.
Rhode Island Asks Coast Guard to Reconsider Weaver’s Cove Decision
Rhode Island Attorney General Patrick Lynch has called on the U.S. Coast Guard to withdraw and reconsider its recent letter of recommendation (LOR) providing conditional support for Weaver’s Cove Energy LLC’s proposal to construct a berth for tankers in Mount Hope Bay and underwater pipeline facilities to unload and deliver liquefied natural gas (LNG) to the proposed terminal site at Fall River, MA.
Prices in Red, Not Green, for St. Patrick’s Day
St. Patrick’s Day will be warm and mostly dry in the U.S., according to The Weather Channel (TWC). That sounded like as good a reason as any for gas prices to drop at nearly all points Monday, although the previous Friday’s 6.3-cent decline by April futures also contributed to the cash market softness.
