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Released May 22, 2023 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
PRODUCTION
U.S. Drillers Cut Oil Rigs - U.S. energy firms last week cut 11 oil rigs, the most in a week since September 2021, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. That follows last week's cut of 17 natural gas rigs, which was the biggest drop since June 2020. The oil and gas rig count fell by 11 to 720 in the week ending May 19, the lowest since May 2022. U.S. oil rigs fell by 11 to 575, their lowest since June 2022, while gas rigs were unchanged at 141. (Reuters)
POWER
Fire Extinguished at Calpine's Texas City Power Plant - A minor, smoldering fire inside Calpine Corporation's (Houston, Texas) 451-megawatt (MW) natural gas-fired power plant in Texas City, Texas, was put out, the city's Emergency Management said on Twitter on Friday. Calpine was not immediately available for comment. The Texas City power plant is a combined-cycle facility with three 104-MW combustion turbines and one 139-MW steam turbine. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for the plant profile. (Reuters)
CORPORATE
Berkshire Hathaway Boosts Stake in Occidental Petroleum - Berkshire Hathaway (NYSE:BRK.A) said on Thursday it had acquired more shares of Occidental Petroleum Corporation (NYSE:OXY) (Houston), boosting its stake in the oil company to 24.4%. In a regulatory filing, the conglomerate controlled by billionaire Warren Buffett said it paid about $201 million for 3.46 million Occidental shares between May 16 and 18. Berkshire has bought Occidental shares on each of the last six trading days, paying about $327 million for 5.62 million shares. It now owns about 217.3 million Occidental shares worth about $12.7 billion. (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).
PRODUCTION
U.S. Drillers Cut Oil Rigs - U.S. energy firms last week cut 11 oil rigs, the most in a week since September 2021, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. That follows last week's cut of 17 natural gas rigs, which was the biggest drop since June 2020. The oil and gas rig count fell by 11 to 720 in the week ending May 19, the lowest since May 2022. U.S. oil rigs fell by 11 to 575, their lowest since June 2022, while gas rigs were unchanged at 141. (Reuters)
POWER
Fire Extinguished at Calpine's Texas City Power Plant - A minor, smoldering fire inside Calpine Corporation's (Houston, Texas) 451-megawatt (MW) natural gas-fired power plant in Texas City, Texas, was put out, the city's Emergency Management said on Twitter on Friday. Calpine was not immediately available for comment. The Texas City power plant is a combined-cycle facility with three 104-MW combustion turbines and one 139-MW steam turbine. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for the plant profile. (Reuters)
CORPORATE
Berkshire Hathaway Boosts Stake in Occidental Petroleum - Berkshire Hathaway (NYSE:BRK.A) said on Thursday it had acquired more shares of Occidental Petroleum Corporation (NYSE:OXY) (Houston), boosting its stake in the oil company to 24.4%. In a regulatory filing, the conglomerate controlled by billionaire Warren Buffett said it paid about $201 million for 3.46 million Occidental shares between May 16 and 18. Berkshire has bought Occidental shares on each of the last six trading days, paying about $327 million for 5.62 million shares. It now owns about 217.3 million Occidental shares worth about $12.7 billion. (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).
