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Released September 17, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CORPORATE
Apollo Inks $1 Billion Deal with BP to Fund Trans Adriatic Pipeline Stake - Apollo Global Management (NYSE:APO) (New York, New York) has signed a $1 billion deal with British energy major BP (NYSE:BP) (London, England) to fund its stake in the Trans Adriatic natural gas pipeline, the companies said on Monday. The asset management company would become a non-controlling shareholder in BP's unit that holds a 20% stake in Trans Adriatic Pipeline AG. The Trans Adriatic Pipeline is the final 880-kilometer (450-mile) leg of the Southern Gas Corridor pipeline system--a 3,500-kilometre network stretching from the Caspian Sea to Europe. It transports natural gas from the BP-operated Shah Deniz gas field in the Azerbaijan sector of the Caspian Sea to markets in Europe such as Greece and Italy. (Reuters)
PRODUCTION
Judge Blocks New Drilling Permits for Wyoming Oil Development - A federal judge on Friday blocked new oil drilling permits from being granted for a 5,000-well oil and gas development project in Wyoming that was approved in the waning days of Republican former President Donald Trump's administration. U.S. District Judge Tanya Chutkan in Washington, D.C., agreed with two environmental groups that the U.S. Bureau of Land Management conducted a flawed assessment of how the Converse County Oil and Gas Project would affect groundwater supplies before approving it in December 2020. (Reuters)
REFINING
Oil India Sets Goal for Numaligarh Refinery Output - India's state-run explorer Oil India Limited (Noida, India) hopes to operate its refinery in the northeastern state of Assam at an expanded capacity of 180,000 barrels per day (BBL/d) in the fiscal year to March 2027, Chairman Ranjit Rath said on Saturday. Oil India's subsidiary Numaligarh Refinery Limited is expanding the capacity of the plant from the current 60,000 BBL/d and laying a crude oil pipeline connecting the refinery to Paradip Port in eastern state of Odisha, Rath said. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports. (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 leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
CORPORATE
Apollo Inks $1 Billion Deal with BP to Fund Trans Adriatic Pipeline Stake - Apollo Global Management (NYSE:APO) (New York, New York) has signed a $1 billion deal with British energy major BP (NYSE:BP) (London, England) to fund its stake in the Trans Adriatic natural gas pipeline, the companies said on Monday. The asset management company would become a non-controlling shareholder in BP's unit that holds a 20% stake in Trans Adriatic Pipeline AG. The Trans Adriatic Pipeline is the final 880-kilometer (450-mile) leg of the Southern Gas Corridor pipeline system--a 3,500-kilometre network stretching from the Caspian Sea to Europe. It transports natural gas from the BP-operated Shah Deniz gas field in the Azerbaijan sector of the Caspian Sea to markets in Europe such as Greece and Italy. (Reuters)
PRODUCTION
Judge Blocks New Drilling Permits for Wyoming Oil Development - A federal judge on Friday blocked new oil drilling permits from being granted for a 5,000-well oil and gas development project in Wyoming that was approved in the waning days of Republican former President Donald Trump's administration. U.S. District Judge Tanya Chutkan in Washington, D.C., agreed with two environmental groups that the U.S. Bureau of Land Management conducted a flawed assessment of how the Converse County Oil and Gas Project would affect groundwater supplies before approving it in December 2020. (Reuters)
REFINING
Oil India Sets Goal for Numaligarh Refinery Output - India's state-run explorer Oil India Limited (Noida, India) hopes to operate its refinery in the northeastern state of Assam at an expanded capacity of 180,000 barrels per day (BBL/d) in the fiscal year to March 2027, Chairman Ranjit Rath said on Saturday. Oil India's subsidiary Numaligarh Refinery Limited is expanding the capacity of the plant from the current 60,000 BBL/d and laying a crude oil pipeline connecting the refinery to Paradip Port in eastern state of Odisha, Rath said. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports. (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 leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
