January 2025 hirings, promotions, and other personnel matters in the nation’s biggest oil patch—or in companies who do business here. Ring Energy, Inc., announced Nov. 5 the addition of a new senior technical executive. James J. Parr joins Ring as Executive Vice President / Exploration and Geosciences. Parr is a petroleum geologist with more […]
Economic Impact of Trump’s Tariffs
by Mark J. Higgins, C.F.A, C.F.P. In response to Trump’s proposed tariff policy, Mark J. Higgins, financial historian, senior investment advisor, and author, offered the following insights. At the present moment, there is far too much uncertainty to precisely gauge the effects of tariffs proposed by the incoming administration, but history does provide guidance on […]
World’s Strongest Land-Based Crane Tested
Mammoet’s SK6000—deemed by its makers to be the world’s strongest land-based crane—has been tested for fully electric operation. It now offers zero-emission capability to projects taking place anywhere in the world. Through this innovation, Mammoet seeks to help its customers reduce the emissions profile of large projects. The technology also reduces the noise generated by […]
Environmental Remediation to Grow 9% Annually
The global market for Environmental Remediation is anticipated to record a cumulative annual growth rate (CAGR) of 9.1 percent over the 2024-2030 analysis period and reach a projected $215.1 billion by 2030 from an estimated $127.9 billion in 2024, according to a Nov. 29 report from ResearchAndMarkets.com. This report analyzes the market based on technology, […]
GlobalData Charts O&G Contract Value
Global oil and gas contract activity saw a 35 percent quarter-on-quarter decrease in total disclosed value from $55.3 billion in Q2 2024 to $35.7 billion in Q3 2024. Despite this, steady contract volumes, particularly in the Middle East, were driven by substantial projects, such as Saipem’s $4 billion contract with QatarEnergy and multi-billion-dollar agreements from […]
Equipment Finance Industry Confidence Increases
The Equipment Leasing and Finance Foundation on Nov. 21 observed that confidence in the equipment finance market is 67.5, up from its October index of 61.8, and the highest level since August 2021. When asked about the outlook for the future, survey respondent Charles Jones, Senior Vice President, 1stEquipment Finance, Inc., said, “Businesses still need equipment. […]
2025 Legislative Sessions: A Preview
______________________________________________________________________________ The Texas Legislature meets in a regular session every two years, convening on the second Tuesday in January of every odd-numbered year in Austin. These biennial sessions are limited to 140 days. The governor has the authority to call special sessions as necessary, which cannot exceed 30 days. The 89th Texas Legislature is […]
Plant Upgrade Boosts Basin Chemical Production
ChampionX announced Nov. 18 its completion of a multi-million-dollar transformative project to enhance its chemical manufacturing hub in the Permian Basin. The project is an initiative to meet industry demands while reducing inter-plant transportation, and associated carbon emissions, by approximately 56.7 tons of CO2 per year. The ChampionX manufacturing plant in Odessa, Texas, was established in […]
Company Delivers Turbomachinery
Mitsubishi Heavy Industries Compressor International Corporation (MCO-I), a leader in the design and manufacturing of compressors, steam turbines, and associated auxiliaries, announced Dec. 3 they have successfully manufactured, tested, and shipped steam turbine driven compressor packages (turbomachinery) to Golden Triangle Polymers Company, a Chevron Phillips Chemical Company (CPChem) and QatarEnergy joint venture, for their world-scale […]
Lubbock Gets Pump Testing Facility
Lubbock-based SIMFLO, one of the nation’s top providers of industrial, municipal, and commercial and agricultural-use pumps, announced Dec. 2 they have added industry-changing, first-of-its-kind innovative technology to their new Engineered Products Facility, which features one of the largest and most advanced vertical turbine test facilities in North America. The technology, provided by Lubbock-based SitePro, Inc., […]
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