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Released May 05, 2025 | 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. Drillers Cut Rigs - U.S. energy firms last week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count fell by three to 584 in the week ending May 2. Baker Hughes said oil rigs fell by four to 479 last week, while gas rigs rose by two to 101. (Reuters)
EARNINGS REPORTS
Canada's Imperial Oil Posts Record First-Quarter Profits on Strong Refining Margins - Canadian oil company Imperial Oil (Calgary, Alberta) posted its highest-ever first-quarter earnings on Friday, driven primarily by stronger margins in its refining and fuel sales business. The company's petroleum product sales were 455,000 barrels per day (BBL/d) in the first quarter, up from 450,000 BBL/d in the first quarter of 2024. Imperial's net income rose to C$1.29 billion (US$933.23 million) during the quarter ended March 31, from C$1.2 billion (US$868.45) a year earlier. (Reuters)
POWER
Swift Current Energy Powers Up Illinois Solar Farm - Renewables developer-operator Swift Current Energy (Boston, Massachusetts) has energized its 593-megawatt Double Black Diamond Solar park in Sangamon County, Illinois. The complex is the largest solar site east of the Mississippi River. It is equipped with 1.6 million solar modules and is expected to be enough to cover the power consumption of about 100,000 homes. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Renewables Now)
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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. Drillers Cut Rigs - U.S. energy firms last week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count fell by three to 584 in the week ending May 2. Baker Hughes said oil rigs fell by four to 479 last week, while gas rigs rose by two to 101. (Reuters)
EARNINGS REPORTS
Canada's Imperial Oil Posts Record First-Quarter Profits on Strong Refining Margins - Canadian oil company Imperial Oil (Calgary, Alberta) posted its highest-ever first-quarter earnings on Friday, driven primarily by stronger margins in its refining and fuel sales business. The company's petroleum product sales were 455,000 barrels per day (BBL/d) in the first quarter, up from 450,000 BBL/d in the first quarter of 2024. Imperial's net income rose to C$1.29 billion (US$933.23 million) during the quarter ended March 31, from C$1.2 billion (US$868.45) a year earlier. (Reuters)
POWER
Swift Current Energy Powers Up Illinois Solar Farm - Renewables developer-operator Swift Current Energy (Boston, Massachusetts) has energized its 593-megawatt Double Black Diamond Solar park in Sangamon County, Illinois. The complex is the largest solar site east of the Mississippi River. It is equipped with 1.6 million solar modules and is expected to be enough to cover the power consumption of about 100,000 homes. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Renewables Now)
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).
