Ormet Corp. plans to lay off 200 people at its alumina plant in Ascension Parish because of reduced demand caused by rising power rates in Ohio.
The Advocate reports Ormet issued 60-day federal layoff notices Tuesday for the plant in the town of Burnside, which produces the primary raw material used in aluminum production. This comes two weeks after Ormet said it would reduce operations at its aluminum smelter in Hannibal, Ohio, which uses the Burnside alumina.
Ormet reopened the shuttered Burnside alumina plant in late 2011, after the plant had been closed for five years.
Bollinger Marine Fabricators, LLC has delivered a newly designed and constructed 55,000 barrel tank barge to Bouchard Transportation Co., Inc.
Bollinger, based in Amelia, said Wednesday that the B. No. 250 tank barge delivered to Bouchard, based in Melville, N.Y., is a manned ocean service, clean oil barge measuring 317-feet, six inches long. Terms of the contract were not disclosed.
Hornbeck Offshore Services Inc. will spend $180 million to build four vessels in anticipation of increased demand for oilfield supply vessels in the Gulf of Mexico and Latin America.
New Orleans CityBusiness reported Tuesday that the Covington-based company plans to exercise the first four of 48 options to build the supply vessels, which will be delivered in late 2014 and early 2015.
The plans are part of a building program the company launched in November. Hornbeck already has 16 new vessels under construction at U.S. shipyards.
The Shaw Group Inc. has completed the $290 million sale of its Energy and Chemicals business to Technip.
The Energy and Chemicals sale, which was completed on Friday, also helps Baton Rouge-based Shaw meet one of the requirements for Shaw to eventually be acquired by CB&I -- having at least $800 million in cash.
Shaw and Technip announced their deal on May 21, and the sale of the Energy and Chemicals unit was expected to close by the end of August.
The company said the sale will give Shaw an adjusted cash balance of around $1.3 billion.
Updated: Sometime Tuesday, Hurricane Isaac could bring significant weather conditions to more than a thousand drilling rigs and platforms in the Gulf of Mexico. Oil prices are already on the rise. As you can see in the map to the right by Accuweather, there are several Gulf drilling regions that are under a "high" or "moderate" threat by the storm.
The state Office of Conservation has ordered petroleum exploration and production companies to take necessary precautions to ensure their sites are secure as Hurricane Isaac nears.
Conservation Commissioner James Welsh said operators of oilfield and related structures as well as pipelines have been directed under the state's emergency declaration to ensure wells and other facilities do not create environmental threats.
Ascension Parish has been chosen as the site for an Avalon Rare Metals Inc. plant that will refine elements used in televisions and hybrid vehicles, if the company decides to build the $300 million facility.
The Louisiana Department of Economic Development announced Monday that Avalon chose the Geismar site for its possible refinery, with a final decision planned for 2013.
If built, LED says the plan would create 175 new jobs.
NPR's business news starts with an eye on oil prices.
Isaac is not expected to grow beyond a Category 1 hurricane and that is easing some concerns it could damage oil and gas refineries along the Gulf Coast. Still, several have shut down operations and will probably be offline for a couple days. Depending on Isaac's severity, analysts say gas prices could go up by about 10 cents or so in the coming weeks. Transcript provided by NPR, Copyright National Public Radio.