Roundup: Arts center /  Stormwater Master Plan / Oil and gas losses 

    Rendering of the new Cary Saurage Community Arts Center courtesy of Downtown Development District.

    Gallery: The Arts Council of Greater Baton Rouge is renovating a former government office building at 233 St. Ferdinand Street into a community arts center and the organization’s new home. Shell has invested $300,000 in the Arts Council of Greater Baton Rouge’s new Cary Saurage Community Arts Center. These funds will support the Shell Gallery, an art exhibition and meeting space open to individuals, schools and organizations throughout the Capital Region and beyond. The project is being financed by the Capital Area Finance Authority. Construction is underway and is expected to be complete in summer 2021, according to CAFA.  

    Online: The East Baton Rouge Parish Stormwater Master Plan reached a milestone today with the announcement of the program’s website. The Stormwater Master Plan and 20-Year Capital Improvement Plan will be the city-parish’s guide for addressing stormwater and drainage challenges. Mayor Sharon Weston Broome and consultant HNTB continue to work collecting adequate data on each of the 11 watersheds throughout East Baton Rouge Parish. The massive data collection effort is being implemented into sophisticated flood risk models to simulate and test various flooding events. See the website here. 

    Market predictions: Top U.S. and European oil and gas companies are forecast to report second-quarter losses after coronavirus lockdowns destroyed fuel demand, hit prices and squeezed margins, analysts say and Refinitiv Eikon data shows. As Reuters reports, the expected rare losses for BP, Chevron, Eni, ExxonMobil, Royal Dutch Shell and Total follow a collapse in oil and gas prices and demand to levels not seen in decades. During previous price slumps, integrated oil producers’ results were boosted by refining operations whose margins typically benefit from low oil prices and provide an internal hedge. But as travel, industry and business were all halted by lockdowns, margins for refined oil products, such as gasoline, diesel and kerosene, dipped into negative territory. Read the full story. 

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