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Released August 30, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
LNG
Golden Pass LNG Asks for Three-Year Extension to Complete Construction - The developer of a Texas liquefied natural gas (LNG) export project on Wednesday asked U.S. regulators for a three-year extension to complete construction of the $10 billion Golden Pass LNG project, citing scheduling uncertainties. Golden Pass LNG, a joint venture of QatarEnergy LNG (Doha, Qatar) and Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) building an 18 million-metric-ton-per-year LNG export project on the Texas coast, wrote that a change in primary contractors requires an extension until November 2029. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports. (Reuters)
GASOLINE
U.S. Gasoline Prices Lower This Year Ahead of Labor Day - U.S. gasoline prices were substantially lower than last year heading into the weekend of the Labor Day federal holiday on Monday, which ends the U.S. summer driving season, the U.S. Energy Information Administration (EIA) said on Thursday. The retail price for regular gasoline in the U.S. averaged $3.31 per gallon on August 26, down about 13% from a year earlier. (Reuters)
CRUDE OIL
Asia's Crude Oil Imports Show Modest Recovery in August - Asia's imports of crude oil lifted in August from the two-year low in July as top-importing heavyweights China, India, South Korea and Japan brought in more barrels. Total imports for August are expected to be 26.74 million barrels per day (BBL/d), up from July's 24.56 million BBL/d, according to data compiled by LSEG Oil Research. While a 2.18 million-BBL/d increase seems large, it's worth noting that July's imports were the weakest since the same month in 2022, and that the August total is still only the fifth-highest out of the eight months so far in 2024. (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).
LNG
Golden Pass LNG Asks for Three-Year Extension to Complete Construction - The developer of a Texas liquefied natural gas (LNG) export project on Wednesday asked U.S. regulators for a three-year extension to complete construction of the $10 billion Golden Pass LNG project, citing scheduling uncertainties. Golden Pass LNG, a joint venture of QatarEnergy LNG (Doha, Qatar) and Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) building an 18 million-metric-ton-per-year LNG export project on the Texas coast, wrote that a change in primary contractors requires an extension until November 2029. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports. (Reuters)
GASOLINE
U.S. Gasoline Prices Lower This Year Ahead of Labor Day - U.S. gasoline prices were substantially lower than last year heading into the weekend of the Labor Day federal holiday on Monday, which ends the U.S. summer driving season, the U.S. Energy Information Administration (EIA) said on Thursday. The retail price for regular gasoline in the U.S. averaged $3.31 per gallon on August 26, down about 13% from a year earlier. (Reuters)
CRUDE OIL
Asia's Crude Oil Imports Show Modest Recovery in August - Asia's imports of crude oil lifted in August from the two-year low in July as top-importing heavyweights China, India, South Korea and Japan brought in more barrels. Total imports for August are expected to be 26.74 million barrels per day (BBL/d), up from July's 24.56 million BBL/d, according to data compiled by LSEG Oil Research. While a 2.18 million-BBL/d increase seems large, it's worth noting that July's imports were the weakest since the same month in 2022, and that the August total is still only the fifth-highest out of the eight months so far in 2024. (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).
