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Released December 05, 2023 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PIPELINES
Kinder Morgan Forecasts Higher 2024 Profits - U.S. pipeline operator Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas) on Monday forecast higher 2024 earnings as it bets on increased demand for transporting crude oil and natural gas liquids. The company expects to generate $8 billion of adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2024, up 5% from the 2023 forecast of $7.6 billion. (Reuters)
CRUDE OIL
Venezuela's Oil Exports Remain Unchanged - Venezuela's oil exports remained almost unchanged in November at 651,000 barrels per day (BBL/d) even as an easing of U.S. sanctions is now allowing sales to trading houses, according to shipping and tanker tracking data. A total of 40 vessels departed Venezuelan ports last month carrying an average 651,000 BBL/d of crude oil and fuels, and 434,000 metric tons of petrochemicals and byproducts. The petroleum exports declined 2.3% from October, while the byproducts increased from 229,000 tons the previous month. (Reuters)
PRODUCTION
Indonesia Approves Revised Abadi Masela Gas Development Plan - Indonesia has approved a revised development plan for the long-delayed Abadi Masela natural gas project with US$20 billion in investment targeting production to start in 2029, an energy ministry official said on Saturday. The project, in which Japanese oil and gas company Inpex (Tokyo) is the lead investor, has faced years of delay due to various changes. The Abadi liquefied natural gas (LNG) project is expected to produce at its peak 9.5 million tonnes of LNG a year, 150 million standard cubic feet per day of pipe gas and 35,000 barrels of condensate per day, upstream regulator data showed. Subscribers to Industrial Info's Oil & Gas Project Database can click here for related reports. (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).
PIPELINES
Kinder Morgan Forecasts Higher 2024 Profits - U.S. pipeline operator Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas) on Monday forecast higher 2024 earnings as it bets on increased demand for transporting crude oil and natural gas liquids. The company expects to generate $8 billion of adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2024, up 5% from the 2023 forecast of $7.6 billion. (Reuters)
CRUDE OIL
Venezuela's Oil Exports Remain Unchanged - Venezuela's oil exports remained almost unchanged in November at 651,000 barrels per day (BBL/d) even as an easing of U.S. sanctions is now allowing sales to trading houses, according to shipping and tanker tracking data. A total of 40 vessels departed Venezuelan ports last month carrying an average 651,000 BBL/d of crude oil and fuels, and 434,000 metric tons of petrochemicals and byproducts. The petroleum exports declined 2.3% from October, while the byproducts increased from 229,000 tons the previous month. (Reuters)
PRODUCTION
Indonesia Approves Revised Abadi Masela Gas Development Plan - Indonesia has approved a revised development plan for the long-delayed Abadi Masela natural gas project with US$20 billion in investment targeting production to start in 2029, an energy ministry official said on Saturday. The project, in which Japanese oil and gas company Inpex (Tokyo) is the lead investor, has faced years of delay due to various changes. The Abadi liquefied natural gas (LNG) project is expected to produce at its peak 9.5 million tonnes of LNG a year, 150 million standard cubic feet per day of pipe gas and 35,000 barrels of condensate per day, upstream regulator data showed. Subscribers to Industrial Info's Oil & Gas Project Database can click here for related reports. (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).
