Released May 23, 2019 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
LNG
Saudi Aramco Buys Stake in Sempra LNG Plant - Saudi Aramco signed a preliminary agreement to buy a 25% stake in Sempra Energy's (NYSE:SRE) liquefied natural gas (LNG) production and export plant in Port Arthur, Texas. The proposed deal, which also includes an agreement to buy gas from the plant, would mark Aramco's first entry into production of oil or gas outside Saudi Arabia. (Fuel Fix)
NATURAL GAS
Natural Gas Prices in Texas Permian Enter Negative Territory Again - Next-day natural gas prices at the Waha hub in the Permian Basin in West Texas fell below zero for the first time since early April this week. Waha averaged minus 40 cents per million British thermal units for Wednesday. (Reuters)
PRODUCTION
Pemex Aims for 1 Million-Barrel-per-Day Rise in Production by 2024 - Mexican state oil company Pemex is striving to increase oil production by 1 million barrels per day by the end of 2024 by developing existing oilfields and others yet to be discovered, the company's chief executive said. Pemex Chief Executive Octavio Romero said the company is developing 20 new fields, including Ixachi, in the southeastern state of Veracruz, which could yield 1.3 billion barrels of potential reserves, according to updated figures. (Reuters)
CRUDE OIL
U.S. Crude Stocks Rise - U.S. crude inventories rose 4.7 million barrels in the week ending May 17 to 476.8 million barrels. (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 trading, logistics and marketing communities. We are the number one source for information about electricity 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. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
LNG
Saudi Aramco Buys Stake in Sempra LNG Plant - Saudi Aramco signed a preliminary agreement to buy a 25% stake in Sempra Energy's (NYSE:SRE) liquefied natural gas (LNG) production and export plant in Port Arthur, Texas. The proposed deal, which also includes an agreement to buy gas from the plant, would mark Aramco's first entry into production of oil or gas outside Saudi Arabia. (Fuel Fix)
NATURAL GAS
Natural Gas Prices in Texas Permian Enter Negative Territory Again - Next-day natural gas prices at the Waha hub in the Permian Basin in West Texas fell below zero for the first time since early April this week. Waha averaged minus 40 cents per million British thermal units for Wednesday. (Reuters)
PRODUCTION
Pemex Aims for 1 Million-Barrel-per-Day Rise in Production by 2024 - Mexican state oil company Pemex is striving to increase oil production by 1 million barrels per day by the end of 2024 by developing existing oilfields and others yet to be discovered, the company's chief executive said. Pemex Chief Executive Octavio Romero said the company is developing 20 new fields, including Ixachi, in the southeastern state of Veracruz, which could yield 1.3 billion barrels of potential reserves, according to updated figures. (Reuters)
CRUDE OIL
U.S. Crude Stocks Rise - U.S. crude inventories rose 4.7 million barrels in the week ending May 17 to 476.8 million barrels. (Reuters)
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 trading, logistics and marketing communities. We are the number one source for information about electricity 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. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
