Released April 10, 2020 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
POWER
U.S. Power Demand Falls to 16-Year Low - U.S. electricity demand last week plunged to a 16-year low as offices shut and industrial activity slowed sharply with government travel and work restrictions to slow the coronavirus spread, according to analysts and the Edison Electric Institute (EEI) trade group. EEI said power output fell to 64,896 gigawatt-hours during the week ended April 4. That was down 5.7% from the same week in 2019 and was the lowest in a week since April 2004. (Reuters)
Renewable Energy Construction Outstrips Fossil Fuels - The latest report on energy system developments shows that 176 gigawatts (GW) of new renewable energy capacity accounted for 72% of all new energy capacity additions in 2019. The data, released in the International Renewable Energy Agency (IRENA)'s annual Renewable Capacity Statistics 2020, showed that while the 2019 figure was slightly lower than 2018's 179 GW, the market continued to expand, up over 7.5%. Asia showed the most spectacular growth, with 54% of total additions, while wind and solar power accounted by 90% of capacity deployed. (Forbes)
PRODUCTION
U.S. Drillers Cut Oil Rigs - U.S. energy firms cut oil rigs for a fourth week in a row to the lowest since December 2016. Drillers cut 58 oil rigs in the week to April 9, bringing the total count down to 504. (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.
POWER
U.S. Power Demand Falls to 16-Year Low - U.S. electricity demand last week plunged to a 16-year low as offices shut and industrial activity slowed sharply with government travel and work restrictions to slow the coronavirus spread, according to analysts and the Edison Electric Institute (EEI) trade group. EEI said power output fell to 64,896 gigawatt-hours during the week ended April 4. That was down 5.7% from the same week in 2019 and was the lowest in a week since April 2004. (Reuters)
Renewable Energy Construction Outstrips Fossil Fuels - The latest report on energy system developments shows that 176 gigawatts (GW) of new renewable energy capacity accounted for 72% of all new energy capacity additions in 2019. The data, released in the International Renewable Energy Agency (IRENA)'s annual Renewable Capacity Statistics 2020, showed that while the 2019 figure was slightly lower than 2018's 179 GW, the market continued to expand, up over 7.5%. Asia showed the most spectacular growth, with 54% of total additions, while wind and solar power accounted by 90% of capacity deployed. (Forbes)
PRODUCTION
U.S. Drillers Cut Oil Rigs - U.S. energy firms cut oil rigs for a fourth week in a row to the lowest since December 2016. Drillers cut 58 oil rigs in the week to April 9, bringing the total count down to 504. (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.
