Understanding Carbon Steel

Carbon steel is steel in which the main interstitial alloying constituent is carbon in the range of 0.12–2.0%. The American Iron and Steel Institute (AISI) definition says:

Steel is considered to be carbon steel when no minimum content is specified or required for chromium, cobalt, molybdenum, nickel, niobium, titanium, tungsten,vanadium or zirconium, or any other element to be added to obtain a desired alloying effect;when the specified minimum for copper does not exceed 0.40 percent; or when the maximum content specified for any of the following elements does not exceed the percentages noted: manganese 1.65, silicon 0.6, copper 0.6.

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7 oil and gas projects to watch in 2015

1.Another new Russia – China pipeline
In the wake of the $400bn deal Russia signed this May to sell its gas to China through the under-construction Power of Siberia pipeline, a second November agreement between the two countries may have not made quite as many headlines as it should.
The new contract will see Gazprom supply 30 bcm of gas a year to the Chinese state oil company CNPC, and it will involve more major pipeline work in Russia. China will receive its gas through a new 2,600km pipeline network called Altai, named after one of the regions of western Siberia it will run through on its way to China’s northwestern border with Russia.

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Low Oil, Gas Investment to Have Long-Term Impact on Supply, IEA Chief Says

OSLO—The International Energy Agency’s executive director said Monday that global oil and gas investments were expected to drop in 2015 and 2016, marking the first two-year spending decline in decades, and he warned of the long-term impact on supply.

“We have never seen this in the last 30 years, two consecutive years of investment decline,” the IEA’s executive director, Dr. Fatih Birol, told The Wall Street Journal on the sidelines of a Statoil conference. “This will have implications for the oil markets, if not tomorrow then the day after tomorrow.”
The IEA, the energy watchdog of the Organization for Economic Cooperation and Development, has forecast oil prices will pick up slowly toward $80 per barrel by around 2020, as demand keeps growing and the current oversupply is gradually reduced.

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