Chevron, Sinopec: Your Daily Energy News

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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. Resumes Imports of Venezuelan Crude Oil Under New Chevron License - Two tankers chartered by Chevron Corporation (Houston, Texas) carrying Venezuelan crude reached U.S. waters on Thursday, marking the first U.S. imports of the South American country's oil following a new license granted by Washington, vessel tracking data showed. The U.S. Treasury Department last month issued a restricted license to Chevron allowing the U.S. company to operate in the country and export its oil after a three-month pause triggered by more strict policies towards sanctioned Venezuela. (Reuters)

EARNINGS REPORTS
Sinopec's Interim Profit Lowest in Five Years - China's Sinopec reported a 39.8% drop in interim net profit due to lower oil prices, weaker fuel demand and as industry overcapacity weighs on margins at its chemicals business. Sinopec, the world's largest oil refiner by capacity, reported on Thursday a net income of 21.48 billion yuan (US$2.99 billion) for January to June, the lowest interim profit since 2020. (Reuters)

PRODUCTION
Iraq Signs Agreement with Chevron for Oil Exploration Projects - Iraq signed an agreement in principle with Chevron for the Nassiriya project that consists of four exploration blocks in addition to the development of other producing oil fields, Iraq's prime minister said this week. In 2021, Iraq authorized National Oil Company to negotiate with Chevron over the development of oilfields in Nassiriya, in the Iraqi southern province of Dhi Qar. (Reuters)

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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).