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Released July 05, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
LNG
U.S. LNG Exports Fall to Lowest Since February - U.S. exports of liquefied natural gas (LNG) in June fell to the lowest in four months, data from Refinitiv Eikon showed, after the country's second-largest LNG plant, the Freeport LNG facility in Texas, was shut by an explosion. A total of 90 LNG tankers departed from U.S. ports last month carrying 6.42 million metric tons, 11% below the prior month's 7.24 million tons, according to preliminary data, based on vessel flows. (Reuters)
PRODUCTION
U.S. Oil & Gas Rig Count Falls - The U.S. oil and gas rig count, an early indicator of future output, fell by three to 750 in the week ending July 1, energy services firm Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs rose one to 595 last week, their highest since March 2020, while gas rigs fell four to 153, in the biggest decline since August 2021. (Reuters)
REFINING
Mexico Inaugurates Dos Bocas Refinery, Promising Production in 2023 - Mexico on Friday inaugurated one of President Andres Manuel Lopez Obrador's flagship infrastructure projects, a new oil refinery in the southern port of Dos Bocas, though it likely will not be ready to start producing gasoline until 2023. The Olmeca refinery, owned and operated by state-run oil company Petroleos Mexicanos (Pemex) (Mexico City), is running considerably over budget, and Lopez Obrador recently conceded it would end up costing between $11 billion and $12 billion, rather than the $8 billion originally estimated. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Project Database can click here for the detailed report. (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) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
LNG
U.S. LNG Exports Fall to Lowest Since February - U.S. exports of liquefied natural gas (LNG) in June fell to the lowest in four months, data from Refinitiv Eikon showed, after the country's second-largest LNG plant, the Freeport LNG facility in Texas, was shut by an explosion. A total of 90 LNG tankers departed from U.S. ports last month carrying 6.42 million metric tons, 11% below the prior month's 7.24 million tons, according to preliminary data, based on vessel flows. (Reuters)
PRODUCTION
U.S. Oil & Gas Rig Count Falls - The U.S. oil and gas rig count, an early indicator of future output, fell by three to 750 in the week ending July 1, energy services firm Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs rose one to 595 last week, their highest since March 2020, while gas rigs fell four to 153, in the biggest decline since August 2021. (Reuters)
REFINING
Mexico Inaugurates Dos Bocas Refinery, Promising Production in 2023 - Mexico on Friday inaugurated one of President Andres Manuel Lopez Obrador's flagship infrastructure projects, a new oil refinery in the southern port of Dos Bocas, though it likely will not be ready to start producing gasoline until 2023. The Olmeca refinery, owned and operated by state-run oil company Petroleos Mexicanos (Pemex) (Mexico City), is running considerably over budget, and Lopez Obrador recently conceded it would end up costing between $11 billion and $12 billion, rather than the $8 billion originally estimated. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Project Database can click here for the detailed report. (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) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
