News Flash

Home

Posted on: September 12, 2017

5 things to know in Texas energy this week

As Houston continues to recover from the impact of Hurricane Harvey and the record-shattering flooding it brought, the state's energy industry is beginning to return to normal with coastal and offshore production facilities, pipelines and refineries coming back online. Production capacity in refineries is still weak, though, and panic around a perceived shortage created long lines and "no gas" signs to appear at the pumps in many of the state's largest cities. Meanwhile, the final closing of the mega-merger between Dow and DuPont finally happened. Here are five things to know in Texas energy this week.


• Texas' coastal refineries have begin to produce refined products, including gasoline, once again after being shut in by Hurricane Harvey. The largest of them, Motiva Enterprises LLC's facility in Port Arthur, Texas, was set to reach 40 percent of its maximum capacity by the end of the weekend.


• The start-ups should provide some much needed stability to gasoline markets, which have seen a significant amount of panic buying from Texas consumers in the past couple of weeks. The consumer concerns, though, are self-fulfilling prophecies — there's plenty of gasoline in storage to last until refineries can return fully to the market.


• The Department of Homeland Security issued a waiver to federal Jones Act regulations, which restrict shipments between U.S. ports. The waiver makes it easier to ship fuel along the coasts in the wake of hurricanes Harvey and Irma. “This is a precautionary measure to ensure we have enough fuel to support lifesaving efforts, respond to the storm, and restore critical services and critical infrastructure operations in the wake of this potentially devastating storm,” said Elaine Duke, the acting secretary of the Department of Homeland Security, in a press release.


• Meanwhile, the final closing of the megamerger between Dow and DuPont to form the aptly-named DowDuPont Inc. (NYSE: DWDP) was effective as of Aug. 31, according to a statement. Ed Breen, who was the CEO of DuPont before the merger, is CEO of the combined companies. Both Dow and DuPont have significant presences in Houston.


• Houston-based Jyoti Americas LLC, which manufactures power transmission infrastructure, filed for Chapter 7 bankruptcy, bringing more than $100 million in debt to the court. That's partially offset by between $50 million and $100 million in assets, but the company said in a court filing that it will not have any funds left over to repay unsecured creditors after it pays administrative expenses.


Read the full article from the Houston Business Journal.

Facebook Twitter Google Plus Email

Other News in Home

46700048_2256291377934985_9048078929557979136_n

DECATUR IS A GREAT PLACE TO LIVE

Posted on: November 24, 2018

SHOP SMALL

Posted on: November 24, 2018
46512327_2253488038215319_7702221639974387712_n

Getting Rid of Hazardous Materials

Posted on: November 19, 2018
45742679_2247826622114794_8453854458806272000_n

Job Market Increase in Decatur

Posted on: November 9, 2018
45596994_2246612322236224_3250462907816738816_o

Nov. 6th General Election Results

Posted on: November 7, 2018
45491501_2245424832354973_3258397627967864832_n

ELECTION DAY is tomorrow!!

Posted on: November 5, 2018

GET YOUR VOTE ON

Posted on: October 30, 2018
Go Big in Texas

Texas earns three No. 1 rankings:

Posted on: October 2, 2018

Texas Enterprise Fund (TEF)

Posted on: October 4, 2018
TEDC

Upcoming TEDC Webinar

Posted on: October 9, 2018
Wise-County-Texas-Early-Voting_ButtonLogo

Early voting in election set to start.

Posted on: October 19, 2018

Sales tax collections continue roll.

Posted on: October 19, 2018

Wise County Unemployment Rate Down

Posted on: October 23, 2018

Home Sales Slow in Wise County

Posted on: October 25, 2018

Proposed Tax Decrease

Posted on: August 14, 2018

Decatur eyes tax cuts

Posted on: August 9, 2018

Texas Produces Urban Employment Uplift

Posted on: August 22, 2018

Get your Taste of Wise Tickets!

Posted on: August 21, 2018

Decatur EDC Marks 25 Years!

Posted on: August 7, 2018

Governor's Small Business Handbook

Posted on: February 16, 2018

The Drive to Start a Business

Posted on: February 28, 2018

Dinner with the Wise County Mayors

Posted on: March 1, 2018

Decatur Texas Attractions

Posted on: March 6, 2018

Texas job growth to rebound in 2018

Posted on: March 8, 2018

Texas Wins the 2017 Governor's Cup

Posted on: March 27, 2018

Coming Soon: Wise County Hiring Event

Posted on: March 19, 2018

Wise County Finances In Order

Posted on: April 3, 2018

Wise County Hiring Event

Posted on: April 9, 2018

Santa visits Neighborhoods

Posted on: December 13, 2017

Protecting square from fire

Posted on: January 4, 2018

10 ways to help the flood victims

Posted on: September 4, 2017

Decatur ISD sets tax rate, approves budget

Posted on: September 8, 2017

United Way kicks off fundraising campaign

Posted on: September 14, 2017

PD Recognizes Local Businesses

Posted on: September 18, 2017

Decatur EDC plans land purchase

Posted on: October 2, 2017

Company donates shoes to storm victims

Posted on: October 3, 2017

Ribbon Cutting for Sands Company Today

Posted on: August 29, 2017

Call 811 before digging

Posted on: August 15, 2017

Wise named Purple Heart County

Posted on: July 17, 2017