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Released November 01, 2023 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
U.S. Crude Oil Production Reaches New Record in August - U.S. field production of crude oil rose to a new monthly record in August at 13.05 million barrels per day (BBL/d), the U.S. Energy Information Administration (EIA) said on Tuesday. Output rose 0.7% in August from the month prior, the data showed. The previous monthly high was in November 2019, when production reached 13.0 million BBL/d. (Reuters)
PIPELINES
Mountain Valley Natural Gas Pipeline on Track for First-Quarter Completion - Equitrans Midstream (NYSE:ETRN) (Pittsburgh, Pennsylvania) remains on track to complete the Mountain Valley natural gas pipeline from West Virginia to Virginia in the first quarter of 2024 at an estimated cost of $7.2 billion, the company said on Tuesday. That is the same timeline and cost that the company reported in mid-October, which was a revision from a prior completion estimate of the end of 2023 and a cost of around $6.6 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here to see related project reports. (Reuters)
EARNINGS REPORTS
MPLX Reports Higher Pipeline Volumes, Earnings for Third Quarter - Midstream energy company MPLX LP (NYSE:MPLX) (Findlay, Ohio) transported 2% more products including natural gas and crude oil in the third quarter of 2023 versus the same time the year prior and reported higher earnings on Tuesday. Total pipeline throughputs were 5.9 million BBL/d in the third quarter, while the average pipeline tariff rate was $0.99 per barrel for the quarter, an increase of 13% versus the same quarter of 2022, the company said in an earnings release. MPLX's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were nearly $1.6 billion, compared with $1.47 billion for the third quarter of 2022. (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
U.S. Crude Oil Production Reaches New Record in August - U.S. field production of crude oil rose to a new monthly record in August at 13.05 million barrels per day (BBL/d), the U.S. Energy Information Administration (EIA) said on Tuesday. Output rose 0.7% in August from the month prior, the data showed. The previous monthly high was in November 2019, when production reached 13.0 million BBL/d. (Reuters)
PIPELINES
Mountain Valley Natural Gas Pipeline on Track for First-Quarter Completion - Equitrans Midstream (NYSE:ETRN) (Pittsburgh, Pennsylvania) remains on track to complete the Mountain Valley natural gas pipeline from West Virginia to Virginia in the first quarter of 2024 at an estimated cost of $7.2 billion, the company said on Tuesday. That is the same timeline and cost that the company reported in mid-October, which was a revision from a prior completion estimate of the end of 2023 and a cost of around $6.6 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here to see related project reports. (Reuters)
EARNINGS REPORTS
MPLX Reports Higher Pipeline Volumes, Earnings for Third Quarter - Midstream energy company MPLX LP (NYSE:MPLX) (Findlay, Ohio) transported 2% more products including natural gas and crude oil in the third quarter of 2023 versus the same time the year prior and reported higher earnings on Tuesday. Total pipeline throughputs were 5.9 million BBL/d in the third quarter, while the average pipeline tariff rate was $0.99 per barrel for the quarter, an increase of 13% versus the same quarter of 2022, the company said in an earnings release. MPLX's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were nearly $1.6 billion, compared with $1.47 billion for the third quarter of 2022. (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).
