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Released February 16, 2021 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CORPORATE
Appeals Court Halts Construction of ConocoPhillips Alaska Project - An appeals court has blocked construction of ConocoPhillips' (NYSE:COP) $2 billion-plus Willow crude oil project in Alaska, putting on hold plans for one of the biggest oil projects in North Slope history. The 9th Circuit Court of Appeals in a weekend order sided with environmental and Native plaintiffs who challenged the Trump administration's go-ahead for the project. The injunction issued Saturday night bars ConocoPhillips from conducting winter gravel mining and gravel road-building for the project while the lawsuit is ongoing. Willow holds 590 million barrels of recoverable oil and could produce up to 160,000 barrels per day (BBL/d) as soon as 2024, according to ConocoPhillips' previous estimates. Click here for a list of related projects. (Reuters)
REFINING
Refineries Shut as Texas Reels from Freeze - A deep freeze across Texas took a toll on the energy industry in the largest U.S. crude-producing state, shutting oil refineries and forcing restrictions from natural gas pipeline operators. Motiva Enterprises said it was shutting down its Port Arthur, Texas, complex, which includes its 607,000-BBL/d refinery - the largest in the United States. ExxonMobil (NYSE:XOM) also began shutting its 369,024-BBL/d Beaumont, Texas, refinery, while its Baton Rouge facility in Louisiana experienced operational issues. (Plants 1012964, 1012671) (Reuters)
EARNINGS REPORTS
TVA Reports Lower Income for Just-Passed Quarter - Tennessee Valley Authority reported net income of $184 million for the quarter ended December 31, 2020, compared with $192 million in the corresponding quarter of 2019. (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.
CORPORATE
Appeals Court Halts Construction of ConocoPhillips Alaska Project - An appeals court has blocked construction of ConocoPhillips' (NYSE:COP) $2 billion-plus Willow crude oil project in Alaska, putting on hold plans for one of the biggest oil projects in North Slope history. The 9th Circuit Court of Appeals in a weekend order sided with environmental and Native plaintiffs who challenged the Trump administration's go-ahead for the project. The injunction issued Saturday night bars ConocoPhillips from conducting winter gravel mining and gravel road-building for the project while the lawsuit is ongoing. Willow holds 590 million barrels of recoverable oil and could produce up to 160,000 barrels per day (BBL/d) as soon as 2024, according to ConocoPhillips' previous estimates. Click here for a list of related projects. (Reuters)
REFINING
Refineries Shut as Texas Reels from Freeze - A deep freeze across Texas took a toll on the energy industry in the largest U.S. crude-producing state, shutting oil refineries and forcing restrictions from natural gas pipeline operators. Motiva Enterprises said it was shutting down its Port Arthur, Texas, complex, which includes its 607,000-BBL/d refinery - the largest in the United States. ExxonMobil (NYSE:XOM) also began shutting its 369,024-BBL/d Beaumont, Texas, refinery, while its Baton Rouge facility in Louisiana experienced operational issues. (Plants 1012964, 1012671) (Reuters)
EARNINGS REPORTS
TVA Reports Lower Income for Just-Passed Quarter - Tennessee Valley Authority reported net income of $184 million for the quarter ended December 31, 2020, compared with $192 million in the corresponding quarter of 2019. (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.
