BP, Gazprom: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

HYDROGEN
BP Plans Large-Scale Green Hydrogen Plant in U.K. - BP (NYSE:BP) (London, England) said on Monday it plans to set up a large-scale green hydrogen production plant in northeast England, generated with wind, water and solar energy, to aid Britain's move away from fossil fuels. The project, dubbed HyGreen Teesside, aims to produce 60 megawatts electrical input of green hydrogen by 2025, BP said. (Reuters)

NATURAL GAS
U.S. Natural Gas Drops 11% - U.S. natural gas futures slid more than 11% on Monday, hurt by forecasts for warmer-than-usual weather that could result in lower heating demand over the next two weeks. Gas futures for January delivery dropped 62.3 cents, or 11.4%, to settle at $4.854 per million British thermal units. That was their biggest daily percentage decline since January 2019. (Reuters)

EARNINGS REPORTS
Russia's Gazprom Reports Record Quarter on Surging Gas Prices - Russia's Gazprom (Moscow) on Monday reported a record quarterly net profit of 581.8 billion rubles ($7.8 billion) for the third quarter of 2021, reflecting high natural gas prices, and said it expected even higher earnings in the last three months of the year.

CRUDE OIL
U.S. to Sell 32 Million Barrels of Oil from Four Sites as Part of Strategic Release - The U.S. will sell 32 million barrels of crude oil from four Strategic Petroleum Reserve sites to be delivered between late-December and April 2022, the Department of Energy (DoE) said as it auctions oil to try to lower global prices. In the first auction of the coordinated release, about 10 million barrels will be made available from Big Hill and Bryan Mound in Texas, about 7 million barrels from West Hackberry in Louisiana and another 5 million barrels from Bayou Choctaw in Louisiana, the DoE said on its website. (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.