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Released May 15, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CRUDE OIL
OPEC's Oil Demand Forecast Remains Unchanged - The Organization of the Petroleum Exporting Countries (OPEC), in a recent monthly report, said it expected world oil demand to rise by 2.25 million barrels per day (BBL/d) in 2024 and by 1.85 million BBL/d in 2025. Both forecasts were unchanged from last month. (Reuters)
POWER
Germany's Solar Power Use Reaches New Highs - During the week ending May 13, Germany's solar farms produced 17,531 megawatt-hours (MWh) of electricity, according to data from LSEG, 40% more than the week before and nearly 50% more than the long-term average for that particular week. (Reuters)
CORPORATE
Marathon Petroleum Names New CEO - Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio), the largest U.S. oil refiner, on Monday named President Maryann Mannen to succeed Michael Hennigan as chief executive officer (CEO) effective August 1. As CEO, Mannen, who joined Marathon in 2021, will run a refiner that processes 3 million BBL/d of crude oil across 13 refineries. (Reuters)
HYDROGEN
U.S. Offers Plug Power Conditional $1.66 Billion Loan for Hydrogen Plants - The U.S. Department of Energy (DOE) said on Tuesday it has offered a conditional loan guarantee of up to $1.66 billion to Plug Power (NASDAQ:PLUG) (Latham, New York) to help it build up to six plants to produce clean hydrogen. The clean hydrogen plants will use electrolyzer stacks manufactured at Plug Power's factory near Rochester, New York. Subscribers to Industrial Info's Global Market Intelligence (GMI) Plant Database can click here for the plant profile. (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).
CRUDE OIL
OPEC's Oil Demand Forecast Remains Unchanged - The Organization of the Petroleum Exporting Countries (OPEC), in a recent monthly report, said it expected world oil demand to rise by 2.25 million barrels per day (BBL/d) in 2024 and by 1.85 million BBL/d in 2025. Both forecasts were unchanged from last month. (Reuters)
POWER
Germany's Solar Power Use Reaches New Highs - During the week ending May 13, Germany's solar farms produced 17,531 megawatt-hours (MWh) of electricity, according to data from LSEG, 40% more than the week before and nearly 50% more than the long-term average for that particular week. (Reuters)
CORPORATE
Marathon Petroleum Names New CEO - Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio), the largest U.S. oil refiner, on Monday named President Maryann Mannen to succeed Michael Hennigan as chief executive officer (CEO) effective August 1. As CEO, Mannen, who joined Marathon in 2021, will run a refiner that processes 3 million BBL/d of crude oil across 13 refineries. (Reuters)
HYDROGEN
U.S. Offers Plug Power Conditional $1.66 Billion Loan for Hydrogen Plants - The U.S. Department of Energy (DOE) said on Tuesday it has offered a conditional loan guarantee of up to $1.66 billion to Plug Power (NASDAQ:PLUG) (Latham, New York) to help it build up to six plants to produce clean hydrogen. The clean hydrogen plants will use electrolyzer stacks manufactured at Plug Power's factory near Rochester, New York. Subscribers to Industrial Info's Global Market Intelligence (GMI) Plant Database can click here for the plant profile. (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).
