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Energy Market highlights gathered by Industrial Info and IIR Energy
REFINING
Chevron to Send 500,000 Barrels of Venezuelan Oil to Pascagoula Refinery - Chevron (NYSE:CVX) (San Ramon, California) this month plans to export its first cargo of Venezuelan crude oil to its Pascagoula, Mississippi, refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday. The 500,000-barrel cargo of Hamaca heavy crude oil, to be loaded at state-run PDVSA's Jose port, comes from the Petropiar oil joint venture operated by both companies. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Plant Database can click here for the related plant profile. (Reuters)
PRODUCTION
U.S. Lease Sale Off Alaska Draws One Bid - The U.S. government on Friday received just a single bid, from Hilcorp Alaska (Anchorage, Alaska), for oil and gas drilling rights off the coast of Alaska the first federal auction in the region in more than five years. The Interior Department's Bureau of Ocean Energy Management announced that Hilcorp offered the only bid for a block offered on Friday for $63,983. (Reuters)
NATURAL GAS
U.S. Natural Gas Futures Drop 11% - U.S. natural gas futures collapsed about 11% to a 10-month low on Tuesday as volatility continues into 2023 on forecasts for warmer-than-normal weather and lower heating demand in January than previously expected. Front-month gas futures for February delivery fell 48.7 cents, or 10.9%, to settle at $3.988 per million British thermal units, their lowest close since February 11. (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).
REFINING
Chevron to Send 500,000 Barrels of Venezuelan Oil to Pascagoula Refinery - Chevron (NYSE:CVX) (San Ramon, California) this month plans to export its first cargo of Venezuelan crude oil to its Pascagoula, Mississippi, refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday. The 500,000-barrel cargo of Hamaca heavy crude oil, to be loaded at state-run PDVSA's Jose port, comes from the Petropiar oil joint venture operated by both companies. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Plant Database can click here for the related plant profile. (Reuters)
PRODUCTION
U.S. Lease Sale Off Alaska Draws One Bid - The U.S. government on Friday received just a single bid, from Hilcorp Alaska (Anchorage, Alaska), for oil and gas drilling rights off the coast of Alaska the first federal auction in the region in more than five years. The Interior Department's Bureau of Ocean Energy Management announced that Hilcorp offered the only bid for a block offered on Friday for $63,983. (Reuters)
NATURAL GAS
U.S. Natural Gas Futures Drop 11% - U.S. natural gas futures collapsed about 11% to a 10-month low on Tuesday as volatility continues into 2023 on forecasts for warmer-than-normal weather and lower heating demand in January than previously expected. Front-month gas futures for February delivery fell 48.7 cents, or 10.9%, to settle at $3.988 per million British thermal units, their lowest close since February 11. (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).
