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Improving Valve Sealing Performance and Reliability

Improving Valve Sealing Performance and Reliability

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A Primer on Fugitive Emissions

A Primer on Fugitive Emissions

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The State of Industrial Distribution in 2017

The State of Industrial Distribution in 2017

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Industry Headlines

ITT Reports 2016 Fourth-Quarter, Full-Year Results

Thursday, 16 February 2017  |  Chris Guy

On a GAAP basis, ITT Corporation delivered revenue of $588 million in the fourth quarter of 2016, reflecting a 12% decline that included a 2% negative...

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Industry Headlines

ITT Reports 2016 Fourth-Quarter, Full-Year Results

3 DAYS AGO

On a GAAP basis, ITT Corporation delivered revenue of $588 million in the fourth quarter of 2016, reflecting a 12% decline that included a 2% negative impact from foreign exchange. GAAP segment operating income decreased 12% .

In the Industrial Process segment, total revenue decreased 29% to $212 milli...

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Delta Centrifugal Rejoins VMA

4 DAYS AGO

This week VMA welcomed back associate member Delta Centrifugal Corporation of Temple, TX after a one year absence from the association.

Delta produces custom-made castings. Delta’s operations include Texas Stainless, Inc. Texas Stainless is a metals distributor and sells castings produced by Delt...

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How New U.S. Policies Will Affect the Chemical Industry

5 DAYS AGO

“In 2017, barring a recession in the U.S. and Europe or a slowdown in China, Moody’s Investor Service expects EBITDA in the chemicals industry to slip by 1 or 2% year-over-year.”

A new report from PwC predicts that the Trump administration “is likely to embrace policies that are...

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$2.2 Billion Investment Approved for Mad Dog Phase 2 Project

6 DAYS AGO

BHP Billiton has approved expenditure of $2.2 billion for its share of the development of the Mad Dog Phase 2 project in the Gulf of Mexico. During the fourth quarter of 2016, BP, which holds a 60.5% participating interest, sanctioned the Mad Dog Phase 2 project.

Mad Dog Phase 2, located in the Green...

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Philly Fed Manufacturing Conditions Continued to Improve in February

4 DAYS AGO

The index for current manufacturing activity in eastern Pennsylvania, southern New Jersey and Delaware increased from a reading of 23.6 in January to 43.3 this month and has remained positive for seven consecutive months. The share of firms reporting growth continues to increase: More than 48% of the ...

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Industrial Production Down 0.3% in January

5 DAYS AGO

Industrial production decreased 0.3% in January following a 0.6% increase in December. In January, manufacturing output moved up 0.2%, and mining output jumped 2.8%. The index for utilities fell 5.7%, largely because unseasonably warm weather reduced the demand for heating. At 104.6% of its 2012 avera...

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Whistle-Blower: Undersized Valves Could Cause Another Gulf Catastrophe

David Perry, a lawyer for whistle-blower Kenneth Abbott, a former BP contractor, has asked a federal court in Houston to shut down BP’s Atlantis platform until it’s proven to comply with U.S. environmental and safety laws. Abbott was an engineering documentation supervisor on Atlantis.

In his statement to U.S. District Judge Lynn Hughes, Perry said that a specific pressure-relief valve on a 16 inch pipeline which connects Atlantis to shore is “undersized by a factor of 20 to 1.” If that valve were to fail, “it could cause catastrophe.”

Abbott told the U.S. Congress in a June 2010 testimony that, contrary to regulations, almost 90% of Atlantis’ design and construction drawings had not been approved by licensed professional engineers. He said that BP lied about its engineering certifications to get the operating permits for the platform.

Perry alleges that BP’s own service and operations audit showed 150 of 500 pressure relief valves on Atlantis never received proper sizing calculations. He said that some of them were “under-sized by very large amounts” and that Atlantis has experienced lapses in well control when subsea valves opened and closed on their own.

Federal regulators with The Department of the Interior have dismissed Abbott’s allegations, saying that the deficiencies in BP’s documentation did not pose serious safety risks.

For the full story on the Federal lawsuit, visit Bloomberg

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