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Project(s): View 2 related projects in PECWeb
Plant(s): View 2 related plants in PECWeb
Released July 01, 2021 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
CRUDE OIL
U.S. Crude Oil Stocks Decline - U.S. crude oil stocks fell for the sixth straight week as refiners ramped up output in response to rising demand, the Energy Information Administration (EIA) said on Wednesday. Crude oil inventories fell by 6.7 million barrels in the week ending June 25 to 452.3 million barrels. That drawdown came as a result of increased refining activity, with refinery runs rising by 187,000 barrels per day to bring refinery utilization rates to 92.9% of total capacity, the EIA said. U.S. gasoline stocks rose by 1.5 million barrels in the week to 241.6 million barrels. Distillate stockpiles fell by 869,000 barrels. (Reuters)
NATURAL GAS
Tellurian Hopes to Grow Natural Gas Output Organically and Through Mergers & Acquisitions - U.S. liquefied natural gas (LNG) developer Tellurian Incorporated (NASDAQ:TELL) (Houston, Texas) wants to grow gas production by adding to its own output and through mergers and acquisitions, the company's executive chairman Charif Souki said this week. He said this was "a once in a lifetime opportunity" for producers to merge or be acquired because they can realize much better revenue by being exposed to international gas prices through the Driftwood LNG export plant Tellurian is developing in Louisiana. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Database can click here for a list of related projects. (Reuters)
LNG
Delfin Seeks Another Year to Build Louisiana Floating LNG Project - LNG developer Delfin LNG (Houston) asked federal energy regulators for a third extension until September 2022 to bring into service the onshore facilities of its proposed floating LNG export plant off the coast of Louisiana. The U.S. Federal Energy Regulatory Commission (FERC) in September 2017 authorized Delfin to build its project by September 2019. In June 2019, Delfin asked FERC for an extension to finish the project until March 2023. FERC, however, only gave Delfin a one-year extension until September 2020. In June 2020, Delfin asked and received another one-year extension from FERC to finish the project by September 2021. In asking for this third extension, Delfin said global "economic conditions are recovering from the COVID-19 pandemic and the spot and short-term markets for LNG have significantly improved ... which will support the company to enter into long-term LNG offtake contracts." Click here for a list of related project 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), 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.
CRUDE OIL
U.S. Crude Oil Stocks Decline - U.S. crude oil stocks fell for the sixth straight week as refiners ramped up output in response to rising demand, the Energy Information Administration (EIA) said on Wednesday. Crude oil inventories fell by 6.7 million barrels in the week ending June 25 to 452.3 million barrels. That drawdown came as a result of increased refining activity, with refinery runs rising by 187,000 barrels per day to bring refinery utilization rates to 92.9% of total capacity, the EIA said. U.S. gasoline stocks rose by 1.5 million barrels in the week to 241.6 million barrels. Distillate stockpiles fell by 869,000 barrels. (Reuters)
NATURAL GAS
Tellurian Hopes to Grow Natural Gas Output Organically and Through Mergers & Acquisitions - U.S. liquefied natural gas (LNG) developer Tellurian Incorporated (NASDAQ:TELL) (Houston, Texas) wants to grow gas production by adding to its own output and through mergers and acquisitions, the company's executive chairman Charif Souki said this week. He said this was "a once in a lifetime opportunity" for producers to merge or be acquired because they can realize much better revenue by being exposed to international gas prices through the Driftwood LNG export plant Tellurian is developing in Louisiana. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Database can click here for a list of related projects. (Reuters)
LNG
Delfin Seeks Another Year to Build Louisiana Floating LNG Project - LNG developer Delfin LNG (Houston) asked federal energy regulators for a third extension until September 2022 to bring into service the onshore facilities of its proposed floating LNG export plant off the coast of Louisiana. The U.S. Federal Energy Regulatory Commission (FERC) in September 2017 authorized Delfin to build its project by September 2019. In June 2019, Delfin asked FERC for an extension to finish the project until March 2023. FERC, however, only gave Delfin a one-year extension until September 2020. In June 2020, Delfin asked and received another one-year extension from FERC to finish the project by September 2021. In asking for this third extension, Delfin said global "economic conditions are recovering from the COVID-19 pandemic and the spot and short-term markets for LNG have significantly improved ... which will support the company to enter into long-term LNG offtake contracts." Click here for a list of related project 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), 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.
