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Released August 01, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
LNG
Enbridge to Invest in Canadian LNG Project - Canada's Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) said on Friday it will invest $1.5 billion in the joint construction and operation of the Woodfibre liquefied natural gas (LNG) project with Pacific Energy Corporation (Singapore). The move is Enbridge's first investment in a liquefaction facility. The 2.1 million-tonne-per-year export facility in Squamish, British Columbia, will have 250,000 cubic meters of floating storage capacity and is expected to be completed in 2027. Under the partnership, Enbridge will invest in a 30% ownership stake in the $5.1 billion project, with Pacific Energy retaining the remaining stake in the facility. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the detailed project report. (Reuters)
PRODUCTION
U.S. Drillers Add Rigs - The U.S. oil and gas rig count rose nine to 767 in the week ending July 29, its highest since March 2020, energy services firm Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs rose six to 605, their highest since March 2020, while gas rigs increased two to 157. (Reuters)
EARNINGS REPORTS
ExxonMobil Posts Record Quarterly Results - Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) on Friday posted its biggest quarterly profit ever on the back of soaring energy prices and as it kept a tight rein on spending. The company reported second-quarter net income of $17.9 billion, an almost fourfold increase over the $4.69 billion it earned in the same period last year. Exxon's results also beat its best-ever quarter, reached in 2012 when the company earned $15.9 billion. (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
Enbridge to Invest in Canadian LNG Project - Canada's Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) said on Friday it will invest $1.5 billion in the joint construction and operation of the Woodfibre liquefied natural gas (LNG) project with Pacific Energy Corporation (Singapore). The move is Enbridge's first investment in a liquefaction facility. The 2.1 million-tonne-per-year export facility in Squamish, British Columbia, will have 250,000 cubic meters of floating storage capacity and is expected to be completed in 2027. Under the partnership, Enbridge will invest in a 30% ownership stake in the $5.1 billion project, with Pacific Energy retaining the remaining stake in the facility. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the detailed project report. (Reuters)
PRODUCTION
U.S. Drillers Add Rigs - The U.S. oil and gas rig count rose nine to 767 in the week ending July 29, its highest since March 2020, energy services firm Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs rose six to 605, their highest since March 2020, while gas rigs increased two to 157. (Reuters)
EARNINGS REPORTS
ExxonMobil Posts Record Quarterly Results - Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) on Friday posted its biggest quarterly profit ever on the back of soaring energy prices and as it kept a tight rein on spending. The company reported second-quarter net income of $17.9 billion, an almost fourfold increase over the $4.69 billion it earned in the same period last year. Exxon's results also beat its best-ever quarter, reached in 2012 when the company earned $15.9 billion. (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.
