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Released May 05, 2023 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
PRODUCTION
ConocoPhillips Raises Production Guidance - ConocoPhillips (NYSE:COP) (Houston, Texas) raised the midpoint of its annual production forecast range by 10,000 barrels of oil equivalent per day (boepd). The company's production in 2023 now is expected to be 1.78 million to 1.80 million boepd. The company's first-quarter production hit a record 1.79 million boepd, an increase of 45,000 boepd from the same period a year earlier. (Reuters)
NATURAL GAS
U.S. Sees Smaller-than-Normal Natural Gas Storage Build - The U.S. Energy Information Administration (EIA) said U.S. utilities added 54 billion cubic feet (Bcf) of gas into storage during the week ended April 28. That compares with an increase of 72 Bcf in the same week last year and a five-year (2018-2022) average increase of 78 Bcf. (Reuters)
REFINING
Russia's Lukoil Completes Sale of Italian Refinery - Russia's second-largest oil producer, Lukoil (Moscow), said on Thursday its subsidiary LITASCO had completed the sale of the ISAB oil refinery in Sicily to private equity firm G.O.I. Energy (Cyprus) following approval by Italian authorities. It did not disclose financial details. G.O.I. Energy said in a statement it aims to turn the refinery into "one of Europe's main energy hubs" through synergies with industrial partners, including commodities trader Trafigura. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Plant Database can click here for related plant profiles. (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).
PRODUCTION
ConocoPhillips Raises Production Guidance - ConocoPhillips (NYSE:COP) (Houston, Texas) raised the midpoint of its annual production forecast range by 10,000 barrels of oil equivalent per day (boepd). The company's production in 2023 now is expected to be 1.78 million to 1.80 million boepd. The company's first-quarter production hit a record 1.79 million boepd, an increase of 45,000 boepd from the same period a year earlier. (Reuters)
NATURAL GAS
U.S. Sees Smaller-than-Normal Natural Gas Storage Build - The U.S. Energy Information Administration (EIA) said U.S. utilities added 54 billion cubic feet (Bcf) of gas into storage during the week ended April 28. That compares with an increase of 72 Bcf in the same week last year and a five-year (2018-2022) average increase of 78 Bcf. (Reuters)
REFINING
Russia's Lukoil Completes Sale of Italian Refinery - Russia's second-largest oil producer, Lukoil (Moscow), said on Thursday its subsidiary LITASCO had completed the sale of the ISAB oil refinery in Sicily to private equity firm G.O.I. Energy (Cyprus) following approval by Italian authorities. It did not disclose financial details. G.O.I. Energy said in a statement it aims to turn the refinery into "one of Europe's main energy hubs" through synergies with industrial partners, including commodities trader Trafigura. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Plant Database can click here for related plant profiles. (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).
