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Released January 16, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PIPELINES
Trans Mountain Pipeline Change Approved by Canadian Regulator - The Canada Energy Regulator (CER) on Friday approved a request for a change in construction for the final stretch of the Trans Mountain oil pipeline expansion project, clearing the path for its completion early this year. Trans Mountain, a Canadian-government owned corporation, had asked to be allowed to install smaller-diameter pipe in a 1.4-mile section of the pipeline's route after encountering challenging drilling conditions due to the hardness of the rock in a mountainous area in British Columbia. Following a hearing on Friday, the CER said it approved Trans Mountain's request and would issue its reasons at a later time. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here to view related project reports. (Reuters)
CORPORATE
BlackRock Strikes $12.5 Billion Deal for Global Infrastructure Partners - BlackRock Incorporated (NYSE:BLK) (New York, New York) said on Friday it would buy Global Infrastructure Partners (New York, New York) for $12.5 billion in a major bet on alternative assets. The deal, which includes $3 billion in cash and 12 million BlackRock shares, will put the asset management giant at the heart of investing in ports, power and digital infrastructure projects around the globe. (Reuters)
GOVERNMENT
India Cuts Windfall Tax on Crude Oil - India cut its windfall tax on petroleum crude to 1,700 rupees (US$20.53) a tonne from 2,300 (US$27.76) rupees a tonne, according to a government notification on Monday. From July 2022, India has imposed a windfall tax on crude oil producers. (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).
PIPELINES
Trans Mountain Pipeline Change Approved by Canadian Regulator - The Canada Energy Regulator (CER) on Friday approved a request for a change in construction for the final stretch of the Trans Mountain oil pipeline expansion project, clearing the path for its completion early this year. Trans Mountain, a Canadian-government owned corporation, had asked to be allowed to install smaller-diameter pipe in a 1.4-mile section of the pipeline's route after encountering challenging drilling conditions due to the hardness of the rock in a mountainous area in British Columbia. Following a hearing on Friday, the CER said it approved Trans Mountain's request and would issue its reasons at a later time. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here to view related project reports. (Reuters)
CORPORATE
BlackRock Strikes $12.5 Billion Deal for Global Infrastructure Partners - BlackRock Incorporated (NYSE:BLK) (New York, New York) said on Friday it would buy Global Infrastructure Partners (New York, New York) for $12.5 billion in a major bet on alternative assets. The deal, which includes $3 billion in cash and 12 million BlackRock shares, will put the asset management giant at the heart of investing in ports, power and digital infrastructure projects around the globe. (Reuters)
GOVERNMENT
India Cuts Windfall Tax on Crude Oil - India cut its windfall tax on petroleum crude to 1,700 rupees (US$20.53) a tonne from 2,300 (US$27.76) rupees a tonne, according to a government notification on Monday. From July 2022, India has imposed a windfall tax on crude oil producers. (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).
