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Released August 15, 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: U.S. Shale Output to Extend Decline in September - Oil and natural gas output from top U.S. shale-producing regions is set to fall in September for the second straight month to the lowest levels since May, U.S. Energy Information Administration (EIA) data showed on Monday. Shale oil output is expected to fall to 9.41 million barrels per day (BBL/d) in September, EIA data showed. It had touched 9.45 million BBL/d in July, its highest on record. Total natural gas output in the big shale basins will also fall for a second month in a row, by about 0.15 billion cubic feet per day (Bcf/d), to 98.3 Bcf/d in September, its lowest since May, the EIA projected. That compares with a monthly gas output record of 98.5 Bcf/d in July. (Reuters)
NATURAL GAS
U.S. Gas Rises Slightly on Warm Weather - U.S. natural gas futures rose on Monday as hotter-than-normal weather kept cooling demand high, with consumption set to rise further into next week. Texas is going to see a substantial increase in natural gas consumption this week because wind generation has fallen, said Price Futures Group analyst Phil Flynn. Power demand in Texas hit an all-time high three times last week and will likely break that record again this week, the state's power grid operator said. Texas gets most of its electricity from gas-fired power plants. (Reuters)
PIPELINES
U.S. Appeals Court Rejects Challenge to Mountain Valley Natural Gas Pipeline - A U.S. appeals court on Friday rejected a challenge to federal approvals for the Mountain Valley Pipeline, in a decision that likely ends legal fights over the construction of the $6.6 billion natural gas project led by Equitrans Midstream (NYSE:ETRN) (Pittsburgh, Pennsylvania). A three-judge panel of the 4th U.S. Circuit Court of Appeals in Richmond, Virginia, said, "There is no longer a live controversy" to consider after Congress in May passed a law expressly ratifying approvals for the 303-mile pipeline running through West Virginia and Virginia. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related 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) 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: U.S. Shale Output to Extend Decline in September - Oil and natural gas output from top U.S. shale-producing regions is set to fall in September for the second straight month to the lowest levels since May, U.S. Energy Information Administration (EIA) data showed on Monday. Shale oil output is expected to fall to 9.41 million barrels per day (BBL/d) in September, EIA data showed. It had touched 9.45 million BBL/d in July, its highest on record. Total natural gas output in the big shale basins will also fall for a second month in a row, by about 0.15 billion cubic feet per day (Bcf/d), to 98.3 Bcf/d in September, its lowest since May, the EIA projected. That compares with a monthly gas output record of 98.5 Bcf/d in July. (Reuters)
NATURAL GAS
U.S. Gas Rises Slightly on Warm Weather - U.S. natural gas futures rose on Monday as hotter-than-normal weather kept cooling demand high, with consumption set to rise further into next week. Texas is going to see a substantial increase in natural gas consumption this week because wind generation has fallen, said Price Futures Group analyst Phil Flynn. Power demand in Texas hit an all-time high three times last week and will likely break that record again this week, the state's power grid operator said. Texas gets most of its electricity from gas-fired power plants. (Reuters)
PIPELINES
U.S. Appeals Court Rejects Challenge to Mountain Valley Natural Gas Pipeline - A U.S. appeals court on Friday rejected a challenge to federal approvals for the Mountain Valley Pipeline, in a decision that likely ends legal fights over the construction of the $6.6 billion natural gas project led by Equitrans Midstream (NYSE:ETRN) (Pittsburgh, Pennsylvania). A three-judge panel of the 4th U.S. Circuit Court of Appeals in Richmond, Virginia, said, "There is no longer a live controversy" to consider after Congress in May passed a law expressly ratifying approvals for the 303-mile pipeline running through West Virginia and Virginia. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related 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) 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).
