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Released January 29, 2024 | 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 Add Rigs - U.S. energy firms last week added oil and natural gas rigs for a second week in a row for the first time since early December, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count rose by one to 621 in the week ending January 26. Baker Hughes said oil rigs rose by two to 499 last week, while gas rigs fell by one to 119. (Reuters)
Report: Gazprom's Gas Production Down 9% in 2023 - Russia's Gazprom (Moscow) produced 404 billion cubic metres (Bcm) of natural gas in 2023, down about 9% from a year earlier due to lower exports to Europe, the Kommersant newspaper reported late on Thursday. Russia's largest natural gas producer has not disclosed its output data and does not comment on its production. Deputy Prime Minister Alexander Novak told the energy ministry's in-house magazine on Thursday that Russia's pipeline gas exports to Europe and China totaled 91.4 Bcm in 2023, down about 30% from 2022. (Reuters)
REFINING
Shell to Shut Down German Refinery - Shell plc (NYSE:SHEL) (London, England) will shut down its oil refinery in Wesseling, Germany, by 2025 and convert the site to produce lubricant feedstock as part of its drive to reduce its carbon emissions, the company said on Friday. Shell said it will convert the site's hydrocracker unit into a production unit for Group III base oils, used mostly in engines, with capacity of about 300,000 metric tons a year, equivalent to about 9% of current European Union demand and 40% of Germany's demand for base oils. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Project Database can click here for the related project report. (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 Add Rigs - U.S. energy firms last week added oil and natural gas rigs for a second week in a row for the first time since early December, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count rose by one to 621 in the week ending January 26. Baker Hughes said oil rigs rose by two to 499 last week, while gas rigs fell by one to 119. (Reuters)
Report: Gazprom's Gas Production Down 9% in 2023 - Russia's Gazprom (Moscow) produced 404 billion cubic metres (Bcm) of natural gas in 2023, down about 9% from a year earlier due to lower exports to Europe, the Kommersant newspaper reported late on Thursday. Russia's largest natural gas producer has not disclosed its output data and does not comment on its production. Deputy Prime Minister Alexander Novak told the energy ministry's in-house magazine on Thursday that Russia's pipeline gas exports to Europe and China totaled 91.4 Bcm in 2023, down about 30% from 2022. (Reuters)
REFINING
Shell to Shut Down German Refinery - Shell plc (NYSE:SHEL) (London, England) will shut down its oil refinery in Wesseling, Germany, by 2025 and convert the site to produce lubricant feedstock as part of its drive to reduce its carbon emissions, the company said on Friday. Shell said it will convert the site's hydrocracker unit into a production unit for Group III base oils, used mostly in engines, with capacity of about 300,000 metric tons a year, equivalent to about 9% of current European Union demand and 40% of Germany's demand for base oils. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Project Database can click here for the related project report. (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).
