Canadian Solar, New Mexico Oil Production: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

PRODUCTION
New Mexico Delivered Half of U.S. Oil Production Gains in 2022 - New Mexico's crude oil production grew more last year than any other U.S. state, including top producer Texas, and accounted for half the nation's overall gain, signaling its importance in expanding U.S. oil output. The state's production rose by a record 300,000 barrels per day (BBL/d) in 2022, to 1.6 million BBL/d, the U.S. Energy Information Administration (EIA) said on Thursday. It was the third consecutive year that New Mexico's increase outpaced other states. Overall U.S. crude oil production grew by 600,000 BBL/d in 2022, averaging 11.9 million BBL/d, the EIA said. (Reuters)

NATURAL GAS
U.S. Natural Gas Jumps Nearly 10% - U.S. natural gas futures jumped about 10% to a nine-week high on Thursday on a smaller-than-expected U.S. storage build and as wildfires kept gas exports from Canada near a 25-month low. Front-month gas futures for June delivery on the New York Mercantile Exchange rose 22.7 cents, or 9.6%, to settle at $2.592 per million British thermal units, their highest close since March 13. (Reuters)

EARNINGS REPORTS
Canadian Solar Boosts Net Income - Solar cell manufacturer Canadian Solar (NASDAQ:CSIQ) (Guelph, Ontario) reported first-quarter 2023 net income of US$83.7 million, compared with US$9.2 million in the prior-year quarter. (Canadian Solar)

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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) 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).