Williams Companies, U.S. Crude Oil Production: Your Daily Energy News

Energy Market highlights gathered by Industrial Info and IIR Energy

PRODUCTION
EIA Slashes 2023 U.S. Crude Oil Production Forecast - The U.S. Energy Information Administration (EIA) has cut its forecast for next year's crude oil output growth by 21%. U.S. crude oil production is expected to increase by about 480,000 barrels per day (BBL/d) to 12.31 million BBL/d, the EIA said, down from a prior 610,000 BBL/d growth forecast. Still, U.S. oil production in 2023 will top 2019's record 12.29 million BBL/d output. (Reuters)

POWER
NERC: Winter Power Resources Could Be Tight in Parts of North America - The North American Electric Reliability Corporation (NERC) said its 2022-2023 Winter Reliability Assessment warned "that a large portion of the North American bulk power system is at risk of having insufficient energy supplies during severe winter weather." NERC said the assessment concluded that "high peak-demand projections, inadequate generator weatherization, fuel supply risks, and limited natural gas infrastructure are contributory factors to reliability risk." (Reuters)

PIPELINES
Williams Urges U.S. to Okay Natural Gas Pipeline - U.S. energy company Williams Companies Incorporated (NYSE:WMB) (Tulsa, Oklahoma) urged federal energy regulators to approve its Transcontinental Gas Pipe Line unit's Regional Energy Access expansion proposal that will boost natural gas supplies in Pennsylvania, New Jersey and Maryland. In a filing this week, Williams asked the U.S. Federal Energy Regulatory Commission (FERC) to approve the project by November 30. Williams told FERC that a failure to act on the Regional Energy Access application this month would "threaten our ability to meet critical construction windows established to protect certain threatened and endangered species."

"Missing those construction windows would delay construction and postpone the in-service dates by up to 12 months, preventing this vital (and fully subscribed) natural gas pipeline capacity from being placed into service in time for the 2023-2024 winter heating season," Williams added. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related reports. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).