Released June 16, 2021 | SUGAR LAND
en
Energy Market highlights gathered by Industrial Info and IIR Energy
NATURAL GAS
Power, Natural Gas Prices Spike in Texas, California Heat Waves - Power and natural gas prices in Texas and California spiked this week to their highest levels in months as homes and businesses cranked up air conditioners to escape brutal heatwaves. The Electric Reliability Council of Texas (ERCOT), which operates most of the state's power system, urged consumers on Monday to conserve energy through Friday. The California ISO, which operates most of that state's grid, told consumers to prepare to conserve energy if needed. For more information, see June 16, 2021, article - A Long, Hot Summer Spells Power Trouble in California and Texas. (Reuters)
PRODUCTION
Production of Crude Oil, Natural Gas in New Mexico Reached Record in March 2021 - New Mexico had record-high production of crude oil and natural gas in March 2021, averaging 1.16 million barrels per day of crude oil and 6.19 billion cubic feet per day of natural gas. The March 2021 increases in crude oil and natural gas production were the largest monthly increases on record for New Mexico. The increased production occurred after a month when production fell in response to the extreme winter weather in the U.S. South Central region. New Mexico's increased production in March was a result of both new wells coming online for the first time and existing wells coming back online after being shut in during the cold snap. (EIA)
POWER
Plans for Power Peaking Plants in Texas Stalls - A proposal to spend $8 billion on new power plants in Texas has stalled, Starwood Energy Group's (Greenwich, Connecticut) chief executive said on Monday. In April, the firm proposed the construction of 11 natural gas-fired power plants, aiming to improve grid reliability during times of extreme demand. Starwood's proposal to build peaking plants for such outages was the second presented to Texas this year. (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 commodity-trading community. We are the number one source for information about power plant 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.
NATURAL GAS
Power, Natural Gas Prices Spike in Texas, California Heat Waves - Power and natural gas prices in Texas and California spiked this week to their highest levels in months as homes and businesses cranked up air conditioners to escape brutal heatwaves. The Electric Reliability Council of Texas (ERCOT), which operates most of the state's power system, urged consumers on Monday to conserve energy through Friday. The California ISO, which operates most of that state's grid, told consumers to prepare to conserve energy if needed. For more information, see June 16, 2021, article - A Long, Hot Summer Spells Power Trouble in California and Texas. (Reuters)
PRODUCTION
Production of Crude Oil, Natural Gas in New Mexico Reached Record in March 2021 - New Mexico had record-high production of crude oil and natural gas in March 2021, averaging 1.16 million barrels per day of crude oil and 6.19 billion cubic feet per day of natural gas. The March 2021 increases in crude oil and natural gas production were the largest monthly increases on record for New Mexico. The increased production occurred after a month when production fell in response to the extreme winter weather in the U.S. South Central region. New Mexico's increased production in March was a result of both new wells coming online for the first time and existing wells coming back online after being shut in during the cold snap. (EIA)
POWER
Plans for Power Peaking Plants in Texas Stalls - A proposal to spend $8 billion on new power plants in Texas has stalled, Starwood Energy Group's (Greenwich, Connecticut) chief executive said on Monday. In April, the firm proposed the construction of 11 natural gas-fired power plants, aiming to improve grid reliability during times of extreme demand. Starwood's proposal to build peaking plants for such outages was the second presented to Texas this year. (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 commodity-trading community. We are the number one source for information about power plant 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.
