Transition Underway at KBR
Downstream-related news items that caught the attention of Rigzone’s readership over the past week included a smaller number of business segments and a larger number of plant units, along with rising expectations for a commodity benchmark. Keep reading to learn more in this review of some of the most viewed recent downstream-related articles.
KBR, Inc. has revealed that it will cut the number of its business segments from three to two, and its revised portfolio will eliminate the firm’s Energy Solutions business segment. According to KBR’s top executive, the move stems from a desire to reduce risk and pursue a narrower corporate strategy. The Energy Services unit, which will be phased out during the remainder of 2020, has provided services in oil and gas sectors such as refining, petrochemicals and liquefied natural gas.
Prominent consultancy sees improving conditions in the oil market. In fact, it recently raised its projected average Brent oil prices for this year and next. As this staff-written article points out, the firm now anticipates average per-barrel Brent prices of $42.35 for 2020 and $49.25 for 2021. Compared to IHS Markit’s forecasts from May of this year, the new figures represent upward revisions ranging from 11 to 20 percent.
Co-venturers in the Cameron LNG export facility in southwestern Louisiana recently hit a milestone, with the formal start of commercial operations of the facility’s third and final liquefaction train. As engineering, procurement and construction firm McDermott International Ltd. reported, the complex will now be capable of exporting up to 12 tonnes of LNG per year. Cameron LNG’s other two liquefaction trains began commercial operations last summer and this past winter.
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