Reports related to this article:
Project(s): View 1 related project in PECWeb
Plant(s): View 2 related plants in PECWeb
Released July 24, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
LNG
Woodside to Acquire Tellurian - Australia's Woodside Energy Group (NYSE:WDS) (Perth, Australia) wants to become one of the world's largest independent producers of liquefied natural gas (LNG). Woodside said on Monday it has agreed to acquire all of Tellurian Incorporated (Houston, Texas) for a total value of US$1.2 billion, including a cash payment of some US$900 million, or US$1 per share, a premium of 75% to the U.S. company's last closing price. The purchase price is largely irrelevant. What's important is whether Woodside can take Tellurian's Driftwood LNG project in Louisiana from its early stages of development to its full potential of producing 27 million metric tons a year of the super-chilled fuel. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing by the related project reports.
POWER
IEA: Rising Cooling Demand to Keep Coal Plants Online - Global electricity demand is set to grow at its fastest pace in nearly 20 years this year, spurred by increasing demand for air conditioning as temperatures rise, the International Energy Agency (IEA) said in a report on Friday. The trend, expected to continue into 2025, will support ongoing use of coal power, even as renewable energy production increases, it predicted. Global power consumption is expected to grow by around 4% in 2024, which would be the largest growth rate since 2007, with the trend expected to continue at the same pace in 2025, compared to a 2.5% demand increase in 2023, IEA data showed. (Reuters)
REFINING
Nigeria's Dangote Says Refinery to Reach 550,000 BBL/d This Year - Nigeria's Dangote refinery will hit production of 550,000 barrels per day (BBL/d) this year, equivalent to 85% of capacity, but it is having to increase crude oil imports due to insufficient domestic supplies, the plant's chief executive said on Saturday. Chief Executive Aliko Dangote said the 650,000-BBL/d capacity refinery, which is the largest in Africa, had only received five crude cargoes from state oil firm NNPC since it started operating earlier this year, instead of the 15 it expected. Subscribers to Industrial Info's Refining Plant Database can click here for the plant profile. (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).
LNG
Woodside to Acquire Tellurian - Australia's Woodside Energy Group (NYSE:WDS) (Perth, Australia) wants to become one of the world's largest independent producers of liquefied natural gas (LNG). Woodside said on Monday it has agreed to acquire all of Tellurian Incorporated (Houston, Texas) for a total value of US$1.2 billion, including a cash payment of some US$900 million, or US$1 per share, a premium of 75% to the U.S. company's last closing price. The purchase price is largely irrelevant. What's important is whether Woodside can take Tellurian's Driftwood LNG project in Louisiana from its early stages of development to its full potential of producing 27 million metric tons a year of the super-chilled fuel. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing by the related project reports.
POWER
IEA: Rising Cooling Demand to Keep Coal Plants Online - Global electricity demand is set to grow at its fastest pace in nearly 20 years this year, spurred by increasing demand for air conditioning as temperatures rise, the International Energy Agency (IEA) said in a report on Friday. The trend, expected to continue into 2025, will support ongoing use of coal power, even as renewable energy production increases, it predicted. Global power consumption is expected to grow by around 4% in 2024, which would be the largest growth rate since 2007, with the trend expected to continue at the same pace in 2025, compared to a 2.5% demand increase in 2023, IEA data showed. (Reuters)
REFINING
Nigeria's Dangote Says Refinery to Reach 550,000 BBL/d This Year - Nigeria's Dangote refinery will hit production of 550,000 barrels per day (BBL/d) this year, equivalent to 85% of capacity, but it is having to increase crude oil imports due to insufficient domestic supplies, the plant's chief executive said on Saturday. Chief Executive Aliko Dangote said the 650,000-BBL/d capacity refinery, which is the largest in Africa, had only received five crude cargoes from state oil firm NNPC since it started operating earlier this year, instead of the 15 it expected. Subscribers to Industrial Info's Refining Plant Database can click here for the plant profile. (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).
