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Released January 25, 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
U.S. Crude Oil Stocks Down, Gasoline Up - U.S. crude oil stockpiles slumped while gasoline inventories jumped last week after winter weather hit oil production and imports, refining, and demand for fuel, the Energy Information Administration (EIA) said on Wednesday. U.S. crude oil inventories fell by 9.2 million barrels to 420.7 million barrels in the week ending January 19, the EIA said. Gasoline stocks rose by 4.9 million barrels to 253 million barrels, their highest since February 2021, the EIA said. Distillate stockpiles fell by 1.4 million barrels in the week to 133.3 million barrels. (Reuters)
PIPELINES
Trans Mountain Expected to Be in Service in Second Quarter - Trans Mountain Corporation (Calgary, Alberta) will begin line fill in February on its long-delayed Canadian oil pipeline expansion and expects it to be in service in the second quarter, a company executive said on Wednesday. The Trans Mountain expansion will nearly triple the flow of crude oil on the pipeline from Alberta to Canada's Pacific Coast but has been plagued by years of delays and cost overruns. The startup of the expanded pipeline is expected in early April, and it will ramp up to full capacity by the end of the year, said Jason Balasch, a senior director at Trans Mountain, speaking at the Argus crude summit in Houston. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for related project reports. (Reuters)
LNG
Japan's 2023 LNG Imports Down 8% - Japan's liquefied natural gas (LNG) imports fell by 8% to 66.2 million metric tons last year to the lowest since 2009, preliminary data from the Ministry of Finance showed, following nuclear power restarts and the increased use of renewable energy. As a result, last year Japan was no longer the world's biggest LNG importer and was overtaken by China. (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
U.S. Crude Oil Stocks Down, Gasoline Up - U.S. crude oil stockpiles slumped while gasoline inventories jumped last week after winter weather hit oil production and imports, refining, and demand for fuel, the Energy Information Administration (EIA) said on Wednesday. U.S. crude oil inventories fell by 9.2 million barrels to 420.7 million barrels in the week ending January 19, the EIA said. Gasoline stocks rose by 4.9 million barrels to 253 million barrels, their highest since February 2021, the EIA said. Distillate stockpiles fell by 1.4 million barrels in the week to 133.3 million barrels. (Reuters)
PIPELINES
Trans Mountain Expected to Be in Service in Second Quarter - Trans Mountain Corporation (Calgary, Alberta) will begin line fill in February on its long-delayed Canadian oil pipeline expansion and expects it to be in service in the second quarter, a company executive said on Wednesday. The Trans Mountain expansion will nearly triple the flow of crude oil on the pipeline from Alberta to Canada's Pacific Coast but has been plagued by years of delays and cost overruns. The startup of the expanded pipeline is expected in early April, and it will ramp up to full capacity by the end of the year, said Jason Balasch, a senior director at Trans Mountain, speaking at the Argus crude summit in Houston. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for related project reports. (Reuters)
LNG
Japan's 2023 LNG Imports Down 8% - Japan's liquefied natural gas (LNG) imports fell by 8% to 66.2 million metric tons last year to the lowest since 2009, preliminary data from the Ministry of Finance showed, following nuclear power restarts and the increased use of renewable energy. As a result, last year Japan was no longer the world's biggest LNG importer and was overtaken by China. (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).
