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Released July 23, 2021 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
REFINING
Northern California Requires Refiners to Slash Air Pollution - Northern California regulators on Wednesday directed two of the state's largest oil refineries to slash their fine particulate air pollution, which will require costly modifications at the plants. The 19-3 vote by the Bay Area Air Quality Management District governing board means refineries in the area, including Chevron Corporation's (NYSE:CVX) (San Ramon, California) Richmond plant and PBF Energy Incorporated's (NYSE:PBF) (Parsippany, New Jersey) Martinez refinery, will have to install wet gas scrubbers to reduce pollution from their fluid catalytic cracking units (FCCUs) within five years. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refinery Database can click here for the plant profiles. (Reuters)
PRODUCTION
Norway's June Oil & Gas Production Below Forecast - Norway's oil production lagged official expectations in June, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Wednesday. Natural gas production also underperformed predictions last month. Crude oil output rose to 1.674 million barrels per day (BBL/d) in June from 1.654 BBL/d in May, but fell short of the 1.736 million BBL/d which the NPD had forecast. Norway's output of natural gas in June totaled 7.9 billion cubic metres (Bcm), below the NPD's forecast of 8.55 Bcm. (Reuters)
CRUDE OIL
Oil Settles Up More than $1.50 -Oil prices rose about $1.50 a barrel on Thursday, extending gains made in the previous three sessions on expectations of tighter supplies through 2021 as economies recover from the coronavirus crisis. Brent crude settled at $73.79 a barrel, up $1.56, or 2.2%, while U.S. West Texas Intermediate (WTI) settled at $71.91 a barrel, rising $1.61, or 2.3%. (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), 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.
REFINING
Northern California Requires Refiners to Slash Air Pollution - Northern California regulators on Wednesday directed two of the state's largest oil refineries to slash their fine particulate air pollution, which will require costly modifications at the plants. The 19-3 vote by the Bay Area Air Quality Management District governing board means refineries in the area, including Chevron Corporation's (NYSE:CVX) (San Ramon, California) Richmond plant and PBF Energy Incorporated's (NYSE:PBF) (Parsippany, New Jersey) Martinez refinery, will have to install wet gas scrubbers to reduce pollution from their fluid catalytic cracking units (FCCUs) within five years. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refinery Database can click here for the plant profiles. (Reuters)
PRODUCTION
Norway's June Oil & Gas Production Below Forecast - Norway's oil production lagged official expectations in June, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Wednesday. Natural gas production also underperformed predictions last month. Crude oil output rose to 1.674 million barrels per day (BBL/d) in June from 1.654 BBL/d in May, but fell short of the 1.736 million BBL/d which the NPD had forecast. Norway's output of natural gas in June totaled 7.9 billion cubic metres (Bcm), below the NPD's forecast of 8.55 Bcm. (Reuters)
CRUDE OIL
Oil Settles Up More than $1.50 -Oil prices rose about $1.50 a barrel on Thursday, extending gains made in the previous three sessions on expectations of tighter supplies through 2021 as economies recover from the coronavirus crisis. Brent crude settled at $73.79 a barrel, up $1.56, or 2.2%, while U.S. West Texas Intermediate (WTI) settled at $71.91 a barrel, rising $1.61, or 2.3%. (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), 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.
