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Released October 23, 2019 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PIPELINES
Mountain Valley Pipeline to be 90% Complete by Yearend - Mountain Valley Pipeline LLC, headed by EQM Midstream (NYSE:EQM), announced total project work on the Mountain Valley natural gas pipeline from West Virginia to Virginia will be approximately 90% complete by yearend 2019, with an adjusted in-service date of late 2020 and revised total cost estimate of $5.3 billion to $5.5 billion. (Projects 300393622, 300183147) (Business Wire)
CRUDE OIL
Crude Oil Prices Rise on Prospect of U.S.-China Trade Deal - Oil prices rose on Tuesday after China signaled progress in trade talks with the United States, but gains were capped by forecasts of a buildup in U.S. crude stockpiles. Brent crude oil settled up 74 cents, or 1.3%, at $59.70 a barrel, while U.S. West Texas Intermediate crude was 85 cents, or 1.6%, higher at $54.16 per barrel. (Reuters)
GOVERNMENT
Canada's Energy Industry Unhappy About New Minority Government - This Reuters article discusses how Canada's energy industry saw its worst-case election result materialize on Monday as the Liberals failed to secure a majority government, leaving them in need of support from left-leaning parties that are opposed to new oil pipelines. Liberal Prime Minister Justin Trudeau won enough seats to form a minority government but fell short of an overall majority. One of the sector's biggest projects opposed by key parties is the expansion of the Trans Mountain crude oil pipeline in Alberta and British Columbia, which could now be at risk. (Projects 300106905, 300106896) (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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
PIPELINES
Mountain Valley Pipeline to be 90% Complete by Yearend - Mountain Valley Pipeline LLC, headed by EQM Midstream (NYSE:EQM), announced total project work on the Mountain Valley natural gas pipeline from West Virginia to Virginia will be approximately 90% complete by yearend 2019, with an adjusted in-service date of late 2020 and revised total cost estimate of $5.3 billion to $5.5 billion. (Projects 300393622, 300183147) (Business Wire)
CRUDE OIL
Crude Oil Prices Rise on Prospect of U.S.-China Trade Deal - Oil prices rose on Tuesday after China signaled progress in trade talks with the United States, but gains were capped by forecasts of a buildup in U.S. crude stockpiles. Brent crude oil settled up 74 cents, or 1.3%, at $59.70 a barrel, while U.S. West Texas Intermediate crude was 85 cents, or 1.6%, higher at $54.16 per barrel. (Reuters)
GOVERNMENT
Canada's Energy Industry Unhappy About New Minority Government - This Reuters article discusses how Canada's energy industry saw its worst-case election result materialize on Monday as the Liberals failed to secure a majority government, leaving them in need of support from left-leaning parties that are opposed to new oil pipelines. Liberal Prime Minister Justin Trudeau won enough seats to form a minority government but fell short of an overall majority. One of the sector's biggest projects opposed by key parties is the expansion of the Trans Mountain crude oil pipeline in Alberta and British Columbia, which could now be at risk. (Projects 300106905, 300106896) (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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
