Released June 05, 2020 | SUGAR LAND
en
News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
Shell, Murphy Oil Evacuate Non-Essential Personnel from Gulf of Mexico - Royal Dutch Shell plc (NYSE:RDS-A) and Murphy Oil Corporation (NYSE:MUR) began evacuating non-essential workers from the U.S. Gulf of Mexico on Thursday because of the threat from Tropical Storm Cristobal. Shell said its production and drilling operations in the U.S.-regulated northern Gulf were unaffected despite the evacuations. (Reuters)
Oklahoma Approves Voluntary Well Shut-Ins - Oklahoma regulators on Wednesday gave oil producers the legal liability protection to voluntarily shut-in wells as prices for oil remain under $40 per barrel. The action ended more than two months of efforts by some oil producers to get the state legal protection to shut in their wells without the fear of being sued by the owners of the wells in order to stabilize markets. The problem may be less severe and state action less needed because oil prices have risen in the last two weeks, officials said. (Kallanish Energy)
REFINING
Refiners Struggle with Coronavirus Recovery - This Reuters article discusses how brimming diesel inventories and stronger oil prices are driving down refining profits, stifling incentives to hike production even as fuel demand recovers from the coronavirus hammering. European cracks, the profit margin for producing diesel from crude, have hit an all-time low, while cracks in the United States and Asia have also plummeted. Dozens of tankers carrying diesel are moored off Europe's coast as refiners in Asia, the Middle East and the United States wait to find a buyer. (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.
PRODUCTION
Shell, Murphy Oil Evacuate Non-Essential Personnel from Gulf of Mexico - Royal Dutch Shell plc (NYSE:RDS-A) and Murphy Oil Corporation (NYSE:MUR) began evacuating non-essential workers from the U.S. Gulf of Mexico on Thursday because of the threat from Tropical Storm Cristobal. Shell said its production and drilling operations in the U.S.-regulated northern Gulf were unaffected despite the evacuations. (Reuters)
Oklahoma Approves Voluntary Well Shut-Ins - Oklahoma regulators on Wednesday gave oil producers the legal liability protection to voluntarily shut-in wells as prices for oil remain under $40 per barrel. The action ended more than two months of efforts by some oil producers to get the state legal protection to shut in their wells without the fear of being sued by the owners of the wells in order to stabilize markets. The problem may be less severe and state action less needed because oil prices have risen in the last two weeks, officials said. (Kallanish Energy)
REFINING
Refiners Struggle with Coronavirus Recovery - This Reuters article discusses how brimming diesel inventories and stronger oil prices are driving down refining profits, stifling incentives to hike production even as fuel demand recovers from the coronavirus hammering. European cracks, the profit margin for producing diesel from crude, have hit an all-time low, while cracks in the United States and Asia have also plummeted. Dozens of tankers carrying diesel are moored off Europe's coast as refiners in Asia, the Middle East and the United States wait to find a buyer. (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.
