After spending years searching for enough crude to pump, the U.S. oil and natural gas industry now is struggling to find and pay for enough skilled workers to tap the abundant supply in shale rock, putting $100 billion in planned petrochemical projects at risk.
Chevron Phillips Chemical Co. said it’s on schedule to build one of the first new U.S. ethylene plants in more than a decade, taking advantage of cheap natural gas and gaining an edge in avoiding a potential labor shortage.
Chevron Phillips Chemical Co., a joint venture equally owned by Chevron Corp. and ConocoPhillips, will spend about $5 billion to build one of the first new ethylene production facilities in the U.S. since 2001.
Iraq and Chevron Phillips Chemical Co., a joint venture of Chevron Corp. and ConocoPhillips, signed a letter of intent to evaluate the feasibility of developing a petrochemical plant in the country, officials said.
Chevron Phillips Chemical Co. may flare gas at its Port Arthur site in Texas because its customer Valero Energy Corp. , which uses the fuel, will shut units for maintenance, according to a filing with state regulators.