Chevron, Valero: Your Daily Energy News

Energy Market highlights gathered by Industrial Info and IIR Energy

NATURAL GAS
U.S. Natural Gas Jumps More than 5% - U.S. natural gas futures gained more than 5% on Thursday, rebounding from the previous session's slide to a seven-week low as forecasts called for higher demand, European prices rose and traders looked toward storage reports showing withdrawals from gas stocks. Front-month gas futures rose 26.9 cents, or 5.5%, to settle at $5.149 per million British thermal units. (Reuters)

LNG
Chevron, Partners to Pay Up for Carbon Capture Shortfall at Gorgon LNG Plant - Chevron Corporation (NYSE:CVX) (San Ramon, California) and its partners in the Gorgon liquefied natural gas (LNG) project in Western Australia have agreed to buy carbon credits likely to cost more than US$180 million as a penalty for failing to meet a five-year target for carbon capture and storage (CCS). The Gorgon CCS project, the world's largest commercial CCS project, is being penalized by the Western Australian government for injecting far less carbon dioxide than planned since the LNG plant started up five years ago. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)

REFINING
Valero Louisiana Refinery's Soot Pollution Surges, Exceeds U.S. Limit - A Valero Energy Corporation (NYSE:VLO) (San Antonio, Texas) refinery outside of New Orleans, Louisiana, recently produced soot at rates that exceeded federal limits while outpacing other major U.S. refineries, according to disclosures by state and federal environmental regulators. Soot from the Saint Charles refinery in Norco, which can process up to 215,000 barrels of crude oil per day, exceeded the federal limit during August pollution tests, sometimes by as much as 10% to 20%. Subscribers to Industrial Info's Refining Plant Database can click here for the plant profile. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.