APA Corporation, U.S. LNG Shipping: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

LNG
Energy Groups Seek Exemption from U.S. Plan to Move LNG on U.S.-Built Ships - U.S. energy groups are asking President Donald Trump's administration to exempt liquefied natural gas (LNG) tankers from a new rule that will require producers to move an increasing percentage of their exports on U.S.-built vessels as part of a broader push to revive domestic shipbuilding. In a move that shocked the industry, the U.S. Trade Representative announced April 17 that LNG producers would have to transport 1% of their exports on U.S.-built ships starting in April 2028. That percentage would escalate to 15% in April 2047 and beyond. That could put the U.S. LNG industry at a disadvantage to its peers around the world because there aren't enough U.S.-built ships to meet the requirement, the American Petroleum Institute said in an April 23 letter. (Reuters)

CORPORATE
APA to Sell New Mexico Permian Assets - APA Corporation (NASDAQ:APA) (Houston, Texas) said on Wednesday that it would sell its New Mexico Permian assets for $608 million as part of an effort to streamline operations and focus on core areas. The assets, which produce about 12,400 barrels of oil equivalent per day, represent less than 5% of APA's total Permian output. The deal with Permian Resources (NYSE:PR) (Midland, Texas) is expected to close in the second quarter, with proceeds expected to reduce debt, the company said. (Reuters)

CRUDE OIL
U.S. Crude Oil Stocks Decline - U.S. crude oil inventories (excluding the Strategic Petroleum Reserve (SPR)) decreased 2.032 million barrels for the week ending May 2. Gasoline inventories rose 188,000 barrels, and distillates were down 1.107 barrels week-on-week. SPR inventories rose 600,000 barrels, according to the U.S. Energy Information Administration (EIA). (IIR Energy)

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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).