BP, Enterprise Products Partners, Low U.S. Hydropower Output: 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.

EARNINGS REPORTS
BP Profit Slumps on Low Refining Margins - BP's (NYSE:BP) (London, England) profits tumbled by nearly one-third in the third quarter to $2.3 billion, as a slump in refining margins weighed on income at the energy giant. The company reported that profits were down compared with the same period a year earlier as faltering global demand hit its refining business. The figure represents a more than 30% slump from the $3.3 billion reported in the third quarter of last year. (PA Media)

TERMINALS
Enterprise Products Opens Fuel Terminal in Utah - Enterprise Products Partners LP (NYSE:EPD) (Houston, Texas) continued its program of converting natural gas liquids pipelines into gasoline and diesel transport lines with the opening of a fuel storage and distribution center in Grand County, Utah, the company announced October 29. Subscribers to Industrial Info's Global Market Intelligence (GMI) Terminals Project Database can learn more by viewing the project report. (Hart Energy)

POWER
U.S. Hydropower Output at Multi-Decade Low - An enduring drought across much of the western United States has caused a drop in U.S. hydropower generation to a 23-year low so far in 2024, data from the U.S. Energy Information Administration (EIA) shows. Total U.S. hydro production over the first eight months of 2024 was 171,046 thousand megawatt-hours of power, EIA data shows. That total was 3% down from the same months in 2023 and the lowest for that period since 2001. (Reuters)

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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).