Released September 03, 2020 | SUGAR LAND
en
News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CRUDE OIL
U.S. Crude Oil Stocks Have Steep Drop - U.S. crude oil stockpiles fell sharply last week as Hurricane Laura shut offshore production and refining facilities, the Energy Information Administration said on Wednesday. Crude inventories fell by 9.4 million barrels in week ending August 28 to 498.4 million barrels. That was driven by a record fall in production, which dropped by 1.1 million barrels per day (BBL/d) to 9.7 million BBL/d, its lowest since January 2018, as most U.S. offshore facilities were shut as a precaution ahead of Laura. (Reuters)
PRODUCTION
U.S. Gulf Production Down More than 19% on Wednesday - U.S. Gulf of Mexico offshore oil output on Wednesday was down by 368,223 BBL/d, or 19.9% of the region's daily production, the U.S. Department of Interior reported. The regulator said 59 of the U.S. Gulf of Mexico's 643 manned platforms remained evacuated, down from 71 production platforms on Tuesday. (Reuters)
POWER
California Approves Extending Lives of Four Aging Gas-Fired Plants - California, which imposed rolling blackouts during an oppressive heat wave on two days last month, on Tuesday extended the lives of four aging natural gas plants it has been seeking to retire for a decade. The unanimous vote by four members of the State Water Resources Control Board follows an analysis last year that identified a potential electricity capacity shortfall beginning in the summer of 2021, according to agency documents. (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.
CRUDE OIL
U.S. Crude Oil Stocks Have Steep Drop - U.S. crude oil stockpiles fell sharply last week as Hurricane Laura shut offshore production and refining facilities, the Energy Information Administration said on Wednesday. Crude inventories fell by 9.4 million barrels in week ending August 28 to 498.4 million barrels. That was driven by a record fall in production, which dropped by 1.1 million barrels per day (BBL/d) to 9.7 million BBL/d, its lowest since January 2018, as most U.S. offshore facilities were shut as a precaution ahead of Laura. (Reuters)
PRODUCTION
U.S. Gulf Production Down More than 19% on Wednesday - U.S. Gulf of Mexico offshore oil output on Wednesday was down by 368,223 BBL/d, or 19.9% of the region's daily production, the U.S. Department of Interior reported. The regulator said 59 of the U.S. Gulf of Mexico's 643 manned platforms remained evacuated, down from 71 production platforms on Tuesday. (Reuters)
POWER
California Approves Extending Lives of Four Aging Gas-Fired Plants - California, which imposed rolling blackouts during an oppressive heat wave on two days last month, on Tuesday extended the lives of four aging natural gas plants it has been seeking to retire for a decade. The unanimous vote by four members of the State Water Resources Control Board follows an analysis last year that identified a potential electricity capacity shortfall beginning in the summer of 2021, according to agency documents. (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.
