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Released July 06, 2021 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
LNG
Chevron, Partners to Proceed with Gas Recovery Project at Gorgon LNG - Chevron Corporation (NYSE:CVX) (San Ramon, California) and its partners in the Gorgon liquefied natural gas (LNG) project off Western Australia have agreed to go ahead with a $4 billion project to improve gas recovery from offshore wells and keep the huge LNG plant filled for 40 years. The Jansz-Io Compression project, which will help gas recovery at the Gorgon LNG project as the Jansz-Io field ages, is expected to take five years to complete, the U.S. oil major said. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Database can click here for the project report. (Reuters)
Pieridae Energy Evaluating Options on Nova Scotia LNG Project - Canadian energy company Pieridae Energy Limited (Calgary) will evaluate options for its proposed Goldboro LNG export plant in Nova Scotia, as pandemic-led disruptions have made the current version of the project impractical. The company said on Friday it had not been able to meet the key conditions necessary to make a final investment decision on the project. Click here for a list of detailed project reports. (Reuters)
PRODUCTION
U.S. Drillers Add Rigs - U.S. energy firms added oil and natural gas rigs for a third time in four weeks in the week ending July 2. The oil and gas rig count rose by five to 475 in the week, its highest since April 2020, energy services firm Baker Hughes Company (Houston, Texas) said. With oil prices up 55% so far this year, some energy firms said they plan to boost spending in 2021 after cutting drilling and completion expenditures over the past two years. That spending increase, however, remains small as most firms continue to focus on boosting cash flow, reducing debt and increasing shareholder returns rather than adding output.
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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.
LNG
Chevron, Partners to Proceed with Gas Recovery Project at Gorgon LNG - Chevron Corporation (NYSE:CVX) (San Ramon, California) and its partners in the Gorgon liquefied natural gas (LNG) project off Western Australia have agreed to go ahead with a $4 billion project to improve gas recovery from offshore wells and keep the huge LNG plant filled for 40 years. The Jansz-Io Compression project, which will help gas recovery at the Gorgon LNG project as the Jansz-Io field ages, is expected to take five years to complete, the U.S. oil major said. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Database can click here for the project report. (Reuters)
Pieridae Energy Evaluating Options on Nova Scotia LNG Project - Canadian energy company Pieridae Energy Limited (Calgary) will evaluate options for its proposed Goldboro LNG export plant in Nova Scotia, as pandemic-led disruptions have made the current version of the project impractical. The company said on Friday it had not been able to meet the key conditions necessary to make a final investment decision on the project. Click here for a list of detailed project reports. (Reuters)
PRODUCTION
U.S. Drillers Add Rigs - U.S. energy firms added oil and natural gas rigs for a third time in four weeks in the week ending July 2. The oil and gas rig count rose by five to 475 in the week, its highest since April 2020, energy services firm Baker Hughes Company (Houston, Texas) said. With oil prices up 55% so far this year, some energy firms said they plan to boost spending in 2021 after cutting drilling and completion expenditures over the past two years. That spending increase, however, remains small as most firms continue to focus on boosting cash flow, reducing debt and increasing shareholder returns rather than adding output.
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.
