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Released April 12, 2023 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
POWER
EIA: U.S. Power Demand to Slip in 2023 - U.S. power consumption is expected to slip about 1% in 2023 from the previous year as milder weather slows usage from the record high hit in 2022, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. The EIA projected that electricity demand is on track to slide to 4,000 billion kilowatt-hours (kWh) in 2023 from a historic high of 4,048 billion kWh in 2022, before rising to 4,062 billion kWh in 2024 as economic growth ramps up. (Reuters)
REFINING
TotalEnergies Refineries Resuming Operations, for Now - The Gonfreville refinery in northern France run by TotalEnergies SE (NYSE:TTE) (Courbevoie, France) started returning to operation on Tuesday, the company said, marking the last of its four domestic refineries to restart after a month-long strike. However, the hardline CGT union will call for a walkout at all refineries on Thursday as part of a planned nationwide strike against the French government's plans to raise the retirement age by two years to 64, representative Eric Sellini told Reuters. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refinery Plant Database can click here to view the plant profile. (Reuters)
PRODUCTION
OPEC's Share of Oil Production Growth to Shrink This Year - Countries not in the Organization of Petroleum Exporting Countries (OPEC) will account for a higher percentage of oil production gains this year and next, a reversal of the last two years, the EIA predicted on Tuesday. Gains by the U.S., Brazil, Canada and Guyana will overshadow OPEC after Saudi Arabia and other Middle East producers this month disclosed plans to cut output by around 1.16 million barrels per day beginning next month. Total non-OPEC liquid fuels production is expected to grow by 1.9 million barrels per day (BBL/d) in 2023 and by 1 million BBL/d in 2024, the EIA said. OPEC output will fall by 500,000 BBL/d in 2023, then rise by 1 million BBL/d in 2024, after the group's output agreement expires, the EIA forecast. (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).
POWER
EIA: U.S. Power Demand to Slip in 2023 - U.S. power consumption is expected to slip about 1% in 2023 from the previous year as milder weather slows usage from the record high hit in 2022, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. The EIA projected that electricity demand is on track to slide to 4,000 billion kilowatt-hours (kWh) in 2023 from a historic high of 4,048 billion kWh in 2022, before rising to 4,062 billion kWh in 2024 as economic growth ramps up. (Reuters)
REFINING
TotalEnergies Refineries Resuming Operations, for Now - The Gonfreville refinery in northern France run by TotalEnergies SE (NYSE:TTE) (Courbevoie, France) started returning to operation on Tuesday, the company said, marking the last of its four domestic refineries to restart after a month-long strike. However, the hardline CGT union will call for a walkout at all refineries on Thursday as part of a planned nationwide strike against the French government's plans to raise the retirement age by two years to 64, representative Eric Sellini told Reuters. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refinery Plant Database can click here to view the plant profile. (Reuters)
PRODUCTION
OPEC's Share of Oil Production Growth to Shrink This Year - Countries not in the Organization of Petroleum Exporting Countries (OPEC) will account for a higher percentage of oil production gains this year and next, a reversal of the last two years, the EIA predicted on Tuesday. Gains by the U.S., Brazil, Canada and Guyana will overshadow OPEC after Saudi Arabia and other Middle East producers this month disclosed plans to cut output by around 1.16 million barrels per day beginning next month. Total non-OPEC liquid fuels production is expected to grow by 1.9 million barrels per day (BBL/d) in 2023 and by 1 million BBL/d in 2024, the EIA said. OPEC output will fall by 500,000 BBL/d in 2023, then rise by 1 million BBL/d in 2024, after the group's output agreement expires, the EIA forecast. (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).
