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Released October 24, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CRUDE OIL
U.S. Crude Oil Stockpiles Jump, Gasoline Builds - U.S. crude oil inventories rose sharply last week as imports ticked higher, while gasoline stocks rose unexpectedly as refineries ramped up output after seasonal maintenance, U.S. Energy Information Administration (EIA) data showed on Wednesday. U.S. crude oil inventories rose by 5.5 million barrels to 426 million barrels in the week ending October 18, the EIA said. Net U.S. crude imports rose last week by 913,000 barrels per day (BBL/d) to 2.3 million BBL/d, as exports fell 11,000 BBL/d to 4.11 million BBL/d. Refinery crude runs rose by 329,000 BBL/d in the week, the EIA said. Gasoline stocks rose by 900,000 barrels in the week to 213.6 million barrels. Distillate stockpiles fell by 1.1 million barrels in the week to 113.8 million barrels, the EIA said. (Reuters)
POWER
GE Vernova to Remove Some Vineyard Wind Blades After Quality Checks - GE Vernova (NYSE:GEV) (Cambridge, Massachusetts) will remove some turbine blades installed at the Vineyard Wind offshore windfarm off the coast of Massachusetts following quality checks prompted by the failure of a blade in July, the company said on Wednesday. Progress on the still-unfinished project is being closely watched since it was barred from producing power or completing construction after a turbine blade broke and sent debris into the water that washed up on nearby beaches during the peak summer tourist season. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more by viewing the related project reports. (Reuters)
Grid Operators: France Has Adequate Gas Supplies for Winter - France has enough natural gas to handle an extremely cold winter, helped by imports from other European countries, though demand-saving measures are still recommended for residential consumers, gas grid operators GRTgaz (Bois-Colombes, France) and Terega (Pau Cedex, France) said on Wednesday. Gas storage is currently 95% full, though filling levels need to be maintained in case of a late cold snap, they said. With regular restocking of gas supplies from Norway, the Netherlands and Spain, as well as from liquefied natural gas, storage is sufficient for extremely cold winter scenarios for the French grid, they said. (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).
CRUDE OIL
U.S. Crude Oil Stockpiles Jump, Gasoline Builds - U.S. crude oil inventories rose sharply last week as imports ticked higher, while gasoline stocks rose unexpectedly as refineries ramped up output after seasonal maintenance, U.S. Energy Information Administration (EIA) data showed on Wednesday. U.S. crude oil inventories rose by 5.5 million barrels to 426 million barrels in the week ending October 18, the EIA said. Net U.S. crude imports rose last week by 913,000 barrels per day (BBL/d) to 2.3 million BBL/d, as exports fell 11,000 BBL/d to 4.11 million BBL/d. Refinery crude runs rose by 329,000 BBL/d in the week, the EIA said. Gasoline stocks rose by 900,000 barrels in the week to 213.6 million barrels. Distillate stockpiles fell by 1.1 million barrels in the week to 113.8 million barrels, the EIA said. (Reuters)
POWER
GE Vernova to Remove Some Vineyard Wind Blades After Quality Checks - GE Vernova (NYSE:GEV) (Cambridge, Massachusetts) will remove some turbine blades installed at the Vineyard Wind offshore windfarm off the coast of Massachusetts following quality checks prompted by the failure of a blade in July, the company said on Wednesday. Progress on the still-unfinished project is being closely watched since it was barred from producing power or completing construction after a turbine blade broke and sent debris into the water that washed up on nearby beaches during the peak summer tourist season. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more by viewing the related project reports. (Reuters)
Grid Operators: France Has Adequate Gas Supplies for Winter - France has enough natural gas to handle an extremely cold winter, helped by imports from other European countries, though demand-saving measures are still recommended for residential consumers, gas grid operators GRTgaz (Bois-Colombes, France) and Terega (Pau Cedex, France) said on Wednesday. Gas storage is currently 95% full, though filling levels need to be maintained in case of a late cold snap, they said. With regular restocking of gas supplies from Norway, the Netherlands and Spain, as well as from liquefied natural gas, storage is sufficient for extremely cold winter scenarios for the French grid, they said. (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).
