Reports related to this article:
Project(s): View 2 related projects in PECWeb
Plant(s): View 2 related plants in PECWeb
Released December 11, 2023 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CRUDE OIL
U.S. Wants to Buy Up to 3 Million Barrels of Crude Oil for Strategic Reserve - The U.S. Department of Energy on Friday said it wants to buy up to 3 million barrels of crude oil for the Strategic Petroleum Reserve (SPR) for delivery in March 2024, as it takes advantage of lower prices to start to replenish the stockpile. The administration of President Joe Biden last year conducted the largest sale to date from the SPR of 180 million barrels to try to limit an oil price rally after Russia's war on Ukraine began in February 2022. The department has bought back nearly 9 million barrels for the reserve at about $75 a barrel. It has also secured the return of nearly 4 million barrels by February, several months ahead of schedule, from a previous exchange with oil companies. (Reuters)
REFINING
Nigeria's New Dangote Refinery Receives First Crude Oil Cargo - The Dangote oil refinery in Nigeria on Friday received its first cargo of 1 million barrels of crude oil from Shell International Trading and Shipping Company (London, England), bringing the start of operations closer after years of delays. Once fully running, the 650,000-barrel-per-day refinery will turn oil powerhouse Nigeria into a net exporter of fuels, a long-sought goal for the OPEC member that almost totally relies on imports. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Project Database can click here for related project reports. (Reuters)
POWER
Canadian Solar Gets 500-MW Supply Contract for U.K. Battery Storage Project - Canadian Solar (NASDAQ:CSIQ) (Guelph, Ontario) will supply battery storage technology of 500 megawatts (MW) to Danish green investment company Copenhagen Infrastructure Partners (Copenhagen, Denmark) for use in the U.K.'s largest battery storage project. A majority-owned unit will provide the technology for the Coalburn 1 project in Scotland, which is scheduled for installation by the first quarter of 2025, the company said on Thursday. Subscribers to Industrial Info's Power Project Database can click here for the project report. (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) 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).
CRUDE OIL
U.S. Wants to Buy Up to 3 Million Barrels of Crude Oil for Strategic Reserve - The U.S. Department of Energy on Friday said it wants to buy up to 3 million barrels of crude oil for the Strategic Petroleum Reserve (SPR) for delivery in March 2024, as it takes advantage of lower prices to start to replenish the stockpile. The administration of President Joe Biden last year conducted the largest sale to date from the SPR of 180 million barrels to try to limit an oil price rally after Russia's war on Ukraine began in February 2022. The department has bought back nearly 9 million barrels for the reserve at about $75 a barrel. It has also secured the return of nearly 4 million barrels by February, several months ahead of schedule, from a previous exchange with oil companies. (Reuters)
REFINING
Nigeria's New Dangote Refinery Receives First Crude Oil Cargo - The Dangote oil refinery in Nigeria on Friday received its first cargo of 1 million barrels of crude oil from Shell International Trading and Shipping Company (London, England), bringing the start of operations closer after years of delays. Once fully running, the 650,000-barrel-per-day refinery will turn oil powerhouse Nigeria into a net exporter of fuels, a long-sought goal for the OPEC member that almost totally relies on imports. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Project Database can click here for related project reports. (Reuters)
POWER
Canadian Solar Gets 500-MW Supply Contract for U.K. Battery Storage Project - Canadian Solar (NASDAQ:CSIQ) (Guelph, Ontario) will supply battery storage technology of 500 megawatts (MW) to Danish green investment company Copenhagen Infrastructure Partners (Copenhagen, Denmark) for use in the U.K.'s largest battery storage project. A majority-owned unit will provide the technology for the Coalburn 1 project in Scotland, which is scheduled for installation by the first quarter of 2025, the company said on Thursday. Subscribers to Industrial Info's Power Project Database can click here for the project report. (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 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).
