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Released September 19, 2023 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
EIA: Oil Output from Major U.S. Shale Formations to Fall Again in October - U.S. oil output from top shale-producing regions is on track to fall for a third month in a row in October to the lowest level since May 2023, the U.S. Energy Information Administration (EIA) said in its monthly drilling productivity report on Monday. U.S. oil output is expected to fall to 9.393 million barrels per day (BBL/d) in October from 9.433 million BBL/d in September, EIA data showed. A record 9.476 million BBL/d was hit in July. Crude oil output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to fall by nearly 26,000 BBL/d to 5.773 million BBL/d, which would be the lowest level since April. (Reuters)
PIPELINES
Canada's Trans Mountain to Face Hearing on Route Change Dispute - Canadian regulators on Monday kicked off a two-day hearing to weigh up a controversial route change request from the Trans Mountain expansion project that has sparked Indigenous opposition and may lead to further delays for the key oil pipeline. Last month, Trans Mountain Corporation (TMC), the crown corporation building the expansion, asked the Canada Energy Regulator to change the approved route on a 1.3-kilometre (0.8 mile) section of pipeline near Kamloops, British Columbia, to avoid planned micro-tunneling construction that it now says is unfeasible. TMC's proposal to instead lay the pipeline through a different area nearby, using horizontal directional drilling and a conventional open trench, is being opposed by the Stk'emlupsemc te Secwepemc Nation First Nation, whose territory the pipeline crosses. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related project reports. (Reuters)
NATURAL GAS
U.S. Natural Gas Climbs 3% - U.S. natural gas futures climbed about 3% on Monday as the amount of gas flowing to the country's liquefied natural gas (LNG) export plants increased after Freeport LNG's facility in Texas returned to near full service over the past few days. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 8.4 cents, or 3.2%, to settle at $2.728 per million British thermal units. (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
EIA: Oil Output from Major U.S. Shale Formations to Fall Again in October - U.S. oil output from top shale-producing regions is on track to fall for a third month in a row in October to the lowest level since May 2023, the U.S. Energy Information Administration (EIA) said in its monthly drilling productivity report on Monday. U.S. oil output is expected to fall to 9.393 million barrels per day (BBL/d) in October from 9.433 million BBL/d in September, EIA data showed. A record 9.476 million BBL/d was hit in July. Crude oil output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to fall by nearly 26,000 BBL/d to 5.773 million BBL/d, which would be the lowest level since April. (Reuters)
PIPELINES
Canada's Trans Mountain to Face Hearing on Route Change Dispute - Canadian regulators on Monday kicked off a two-day hearing to weigh up a controversial route change request from the Trans Mountain expansion project that has sparked Indigenous opposition and may lead to further delays for the key oil pipeline. Last month, Trans Mountain Corporation (TMC), the crown corporation building the expansion, asked the Canada Energy Regulator to change the approved route on a 1.3-kilometre (0.8 mile) section of pipeline near Kamloops, British Columbia, to avoid planned micro-tunneling construction that it now says is unfeasible. TMC's proposal to instead lay the pipeline through a different area nearby, using horizontal directional drilling and a conventional open trench, is being opposed by the Stk'emlupsemc te Secwepemc Nation First Nation, whose territory the pipeline crosses. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related project reports. (Reuters)
NATURAL GAS
U.S. Natural Gas Climbs 3% - U.S. natural gas futures climbed about 3% on Monday as the amount of gas flowing to the country's liquefied natural gas (LNG) export plants increased after Freeport LNG's facility in Texas returned to near full service over the past few days. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 8.4 cents, or 3.2%, to settle at $2.728 per million British thermal units. (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).
