Released January 14, 2021 | SUGAR LAND
en
News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CRUDE OIL
U.S. Crude Oil Stockpiles Decline - U.S. crude oil inventories fell by 3.2 million barrels in the week ending January 8 to 482.2 million barrels, according to the U.S. Energy Information Administration (EIA). Refinery crude runs rose by 274,000 barrels per day in the last week, the EIA said. U.S. gasoline stocks rose by 4.4 million barrels in the week to 245.5 million barrels. Distillate stockpiles rose by 4.8 million barrels in the week. (Reuters)
IEA: Oil Market Outlook Clouded by Vaccine Rollout Variables - Oil producers face an unprecedented challenge to balance supply and demand as factors including the pace and response to COVID-19 vaccines cloud the outlook, an official with International Energy Agency (IEA) said on Wednesday. "Producers are grappling with huge uncertainty about where this goes from here," said Tim Gould, head of energy supply outlooks and investment. "That's not just in terms of economic recovery but indicators we wouldn't necessarily normally be looking at: (such as the) levels of trust in different countries about vaccines." (Reuters)
CORPORATE
New Fortress Energy to Buy Hygo for $2.18 Billion - Energy infrastructure company New Fortress Energy Incorporated (NASDAQ:NFE) said on Wednesday it would buy Hygo Energy Transition for $2.18 billion to expand its presence in Brazil. Hygo is a 50-50% joint venture between Golar LNG and U.S. private equity firm Stonepeak Infrastructure Partners. The company transports liquefied natural gas and has become a key player in the Brazilian industry. (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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
CRUDE OIL
U.S. Crude Oil Stockpiles Decline - U.S. crude oil inventories fell by 3.2 million barrels in the week ending January 8 to 482.2 million barrels, according to the U.S. Energy Information Administration (EIA). Refinery crude runs rose by 274,000 barrels per day in the last week, the EIA said. U.S. gasoline stocks rose by 4.4 million barrels in the week to 245.5 million barrels. Distillate stockpiles rose by 4.8 million barrels in the week. (Reuters)
IEA: Oil Market Outlook Clouded by Vaccine Rollout Variables - Oil producers face an unprecedented challenge to balance supply and demand as factors including the pace and response to COVID-19 vaccines cloud the outlook, an official with International Energy Agency (IEA) said on Wednesday. "Producers are grappling with huge uncertainty about where this goes from here," said Tim Gould, head of energy supply outlooks and investment. "That's not just in terms of economic recovery but indicators we wouldn't necessarily normally be looking at: (such as the) levels of trust in different countries about vaccines." (Reuters)
CORPORATE
New Fortress Energy to Buy Hygo for $2.18 Billion - Energy infrastructure company New Fortress Energy Incorporated (NASDAQ:NFE) said on Wednesday it would buy Hygo Energy Transition for $2.18 billion to expand its presence in Brazil. Hygo is a 50-50% joint venture between Golar LNG and U.S. private equity firm Stonepeak Infrastructure Partners. The company transports liquefied natural gas and has become a key player in the Brazilian industry. (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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
