Released January 07, 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 Stockpile Decline, Fuel Inventories Rise - U.S. crude oil stockpiles fell sharply last week while fuel inventories rose, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 8 million barrels in the week ending January 1 to 485.5 million barrels, their biggest decline since August. U.S. gasoline stocks rose by 4.5 million barrels last week, the biggest increase since April, the EIA said. Distillate stockpiles rose by 6.4 million barrels. (Reuters)
PRODUCTION
Canada's Oil Sands Hits Record-High Production - Canada's oil sands production hit a record high in November, according to the latest regulatory data, and will likely continue to rise as producers ramp up output following the end of provincial government production curtailments in Alberta. Data from the Alberta Energy Regulator released this week shows in November oil sands production hit a record 3.16 million barrels a day. That was a month before Alberta government production curtailments, introduced in 2019 to ease congestion on export pipelines, lifted. (Reuters)
CORPORATE
Enervus: Oil & Gas Deal-Making Peaks in Fourth Quarter - Deal-making among oil and gas producers was at its highest for the year in the fourth quarter of 2020 as the pandemic-driven fallout in commodity prices spurred a wave of consolidation between explorers looking to scale up and drive down costs, a report from analytics firm Enverus said. Oil and gas producers made deals worth $27.1 billion in the quarter, up from $21 billion in the third, helped by three multibillion-dollar acquisitions in the Permian Basin. ConocoPhillips (NYSE:COP) acquired Concho Resources for $13.3 billion, the biggest pure shale acquisition by any company since 2011, topping the list. It was followed by Pioneer Natural Resources' (NYSE:PXD) deal to buy Parsley Energy for $7.6 billion. (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 Stockpile Decline, Fuel Inventories Rise - U.S. crude oil stockpiles fell sharply last week while fuel inventories rose, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 8 million barrels in the week ending January 1 to 485.5 million barrels, their biggest decline since August. U.S. gasoline stocks rose by 4.5 million barrels last week, the biggest increase since April, the EIA said. Distillate stockpiles rose by 6.4 million barrels. (Reuters)
PRODUCTION
Canada's Oil Sands Hits Record-High Production - Canada's oil sands production hit a record high in November, according to the latest regulatory data, and will likely continue to rise as producers ramp up output following the end of provincial government production curtailments in Alberta. Data from the Alberta Energy Regulator released this week shows in November oil sands production hit a record 3.16 million barrels a day. That was a month before Alberta government production curtailments, introduced in 2019 to ease congestion on export pipelines, lifted. (Reuters)
CORPORATE
Enervus: Oil & Gas Deal-Making Peaks in Fourth Quarter - Deal-making among oil and gas producers was at its highest for the year in the fourth quarter of 2020 as the pandemic-driven fallout in commodity prices spurred a wave of consolidation between explorers looking to scale up and drive down costs, a report from analytics firm Enverus said. Oil and gas producers made deals worth $27.1 billion in the quarter, up from $21 billion in the third, helped by three multibillion-dollar acquisitions in the Permian Basin. ConocoPhillips (NYSE:COP) acquired Concho Resources for $13.3 billion, the biggest pure shale acquisition by any company since 2011, topping the list. It was followed by Pioneer Natural Resources' (NYSE:PXD) deal to buy Parsley Energy for $7.6 billion. (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.
