Boomlet in Anchorage air cargo projects?

Boomlet in Anchorage air cargo projects?

Cloud on horizon: New state fuel taxes Anchorage’s Ted Stevens International Airport could see a boomlet in air cargo construction starting next year with about $700 million in projects planned including expansions by UPS and Federal Express, which now operate cargo-sorting hubs at Anchorage’s airport. Much of this is tied to international air cargo, mainly North America-Asia, and what’s interesting is the big cargo operators obviously assume the China-U.S. trade war will be resolved. Also interesting is that there doesn’t…

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State’s production forecast: Decline in mid-term

State’s production forecast: Decline in mid-term

Despite the array of new North Slope projects underway oil production is expected to decline in the near term from 492,000 barrels per day average in state Fiscal Year 2020 (the current budget year ending June 30) and drop further to 490,500 barrels per day in FY 2021, the budget year starting next July 1. This is according to the latest long-term production forecast by the state Department of Revenue, published Dec. 6. By 2024 production is expected to be…

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Briefing: Oil and gas outlook 2020 and beyond

Briefing: Oil and gas outlook 2020 and beyond

North Slope producers – full plate of projects North Slope producers have a full plate of projects in 2020 and beyond as companies speed development of new discoveries. More new finds are coming, too. Here are key points: • ConocoPhillips is on a streak of new discoveries, mostly in the National Petroleum Reserve-Alaska • $24 billion investment seen by 2029 to develop new projects • Expectation for near-term production decline; increases in longer-term • Federal government to make new exploration…

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Fisheries

Fisheries

Fish harvesters net $657.6 million Alaska fish harvesters netted $657.6 million in payment by processors and other purchasers during the 2019 summer salmon season, according to preliminary Dept. of Fish and Game data. The preliminary total is 10 percent over 2018 payments with sockeye salmon accounting for the increase. Sockeye payments to harvesters accounted for $421 million, or about two-thirds, of the total. The figure will be updated next spring when final post-season payments to fishermen are included.

Minerals

Minerals

Roadless rule lifted for Tongass? Trilogy Metals reported exploration results at its Sunshine prospect in the Ambler Minerals District with five of six bore-holes drilled showing copper concentrations of over 2 percent. Company officials said the ore grades and width of mineralized areas are similar to Trilogy’s nearby Arctic project, a high-grade copper accumulation. The company is now in an advanced stage of development planning at Arctic. Trilogy is also exploring Bornite, a large but lower-grade copper deposit west of…

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Petroleum

Petroleum

Oil Search on track at Pikka Oil Search Alaska told the state Department of Natural Resources that it is on track for a Final Investment Decision with its partner, Repsol, on its Pikka project in late 2020 (late October is reported) and that final engineering, permitting and other planning, as well as more drilling, will be underway this winter. However, Oil Search has not yet reached an access agreement with Kuukpik Corp, the owner of surface lands in the project…

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Business Intelligence

Business Intelligence

Four percent wage growth fueled by higher oil, construction jobs A 4.0 increase in total Alaska wage payments in the first half of 2019 can be attributed mainly to job growth in high-wage industries like petroleum and construction, state labor economists say. Most industries showed growth in wages paid but most were about on par with the 2.6 percent inflation rate, meaning no increase in real earnings. Wage payments grew 3.3 percent in Anchorage; 3.2 percent in Fairbanks and 0.5…

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What’s the new voter oil-tax initiative for?

What’s the new voter oil-tax initiative for?

Fully-funded PFDs, schools, roads ‑ motherhood and apple pie Now that the question has been approved by Lt. Gov. Kevin Meyer, signature-gatherers are out in front of retail stores with petitions to place a proposition increasing oil taxes on the November, 2020 general election ballot. We asked several people gathering signatures how the $1 billion to $1.5-billion-per-year oil tax increase would be used. Most said for infrastructure, roads and education but all said to “fully-fund” the Permanent Fund Dividend, essentially…

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Infrastructure

Infrastructure

$25 million grant for Anchorage port The Municipality of Anchorage received a $25 million federal grant toward its Port of Alaska reconstruction but the grant won’t initially reduce new tariffs for its new petroleum products and cement terminal. Building of that facility is to be underway next summer (piling and other components are now being fabricated) at an initial phase cost of $42.2 million. The estimated ultimate cost of the new petroleum and cement terminal is estimated at about $215…

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Transportation

Transportation

Angoon charters its own ferry Angoon village in Southeast Alaska is in discussions with Juneau-based Goldbelt, Inc. to charter a catamaran vessel owned by Goldbelt to provide passenger ferry service. The Alaska Marine Highway System was to offer very limited winter ferry service to small Southeast communities including Angoon, on Admiralty Island, but has had to roll that back when budget constraints prevented scheduled maintenance on vessels that would have provided the service. The City and Angoon Community Association may…

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