Released August 04, 2020 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
LNG
U.S. LNG Exports Set to Rise for First Time in Six Months - U.S. liquefied natural gas (LNG) exports are on track to rise in August for the first month in six, rallying U.S. gas prices by more than 15% to a three-month high, according to analysts, energy traders and data from Refinitiv. The amount of pipeline gas flowing to U.S. LNG plants averaged 4.0 billion cubic feet per day (Bcf/d) (41% utilization) so far in August, according to Refinitiv, putting LNG exports on track for their first monthly gain since hitting a record high in February. (Reuters)
EARNINGS REPORTS
Diamondback Energy Posts Second-Quarter Loss on Impairment Charge - Diamondback Energy Incorporated (NASDAQ:FANG) on Monday posted a quarterly loss from a year-ago profit, as the Permian basin producer took a $2.54 billion impairment charge against its oil and gas properties after crude prices plummeted. The company's quarterly average production stood at 294,126 barrels of oil equivalent per day (boepd), compared with 280,365 boepd last year. Diamondback said net attributable loss to the company was $2.39 billion for the second quarter ended June 30, from a profit of $349 million last year. The company said it has brought back 5% of the oil production which was curtailed during the second quarter, as it is now receiving significantly higher realized prices. (Reuters)
CRUDE OIL
Venezuela's Crude Oil Export Stagnant at Less Than 400,000 Barrels per Day - Venezuela exported about 388,100 barrels per day of crude and fuel in July, almost unchanged versus the previous month, as U.S. sanctions on PDVSA continued limiting sales. A total of 20 cargoes of crude and refined products were shipped last month from the country, with India emerging again as the main destination, with a third of total exports, according to the data. (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
U.S. LNG Exports Set to Rise for First Time in Six Months - U.S. liquefied natural gas (LNG) exports are on track to rise in August for the first month in six, rallying U.S. gas prices by more than 15% to a three-month high, according to analysts, energy traders and data from Refinitiv. The amount of pipeline gas flowing to U.S. LNG plants averaged 4.0 billion cubic feet per day (Bcf/d) (41% utilization) so far in August, according to Refinitiv, putting LNG exports on track for their first monthly gain since hitting a record high in February. (Reuters)
EARNINGS REPORTS
Diamondback Energy Posts Second-Quarter Loss on Impairment Charge - Diamondback Energy Incorporated (NASDAQ:FANG) on Monday posted a quarterly loss from a year-ago profit, as the Permian basin producer took a $2.54 billion impairment charge against its oil and gas properties after crude prices plummeted. The company's quarterly average production stood at 294,126 barrels of oil equivalent per day (boepd), compared with 280,365 boepd last year. Diamondback said net attributable loss to the company was $2.39 billion for the second quarter ended June 30, from a profit of $349 million last year. The company said it has brought back 5% of the oil production which was curtailed during the second quarter, as it is now receiving significantly higher realized prices. (Reuters)
CRUDE OIL
Venezuela's Crude Oil Export Stagnant at Less Than 400,000 Barrels per Day - Venezuela exported about 388,100 barrels per day of crude and fuel in July, almost unchanged versus the previous month, as U.S. sanctions on PDVSA continued limiting sales. A total of 20 cargoes of crude and refined products were shipped last month from the country, with India emerging again as the main destination, with a third of total exports, according to the data. (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.
