Released November 20, 2019 | SUGAR LAND
en
News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
EIA: U.S. Shale Output to Rise to Record in December - U.S. crude oil output from seven major shale formations is expected to rise about 49,000 barrels per day (BBL/d) in December to a record 9.13 million BBL/d, the U.S. Energy Information Administration (EIA) said in a monthly forecast on Monday. Output at the largest formation, the Permian Basin, is expected to rise 57,000 BBL/d to 4.73 million BBL/d. (Reuters)
REFINING
European Refining Margins Turn Negative - Northwest European oil refining margins turned negative on Tuesday, falling to around -$0.49 a barrel. Margins fell to their lowest since October 2013. (Reuters)
CORPORATE
ConocoPhillips Targets $50 Billion Free Cash Flow over Next Decade - ConocoPhillips (NYSE:COP) unveiled a long-term plan on Tuesday to boost oil and gas production by about 3% per year, restrain annual spending to about $7 billion and return $50 billion to shareholders over the next decade. ConocoPhillips expects several decades ahead of lackluster oil prices, with U.S. oil to average between $40 to $70 per barrel through the 2050s. (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 trading, logistics and marketing communities. We are the number one source for information about electricity 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. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
PRODUCTION
EIA: U.S. Shale Output to Rise to Record in December - U.S. crude oil output from seven major shale formations is expected to rise about 49,000 barrels per day (BBL/d) in December to a record 9.13 million BBL/d, the U.S. Energy Information Administration (EIA) said in a monthly forecast on Monday. Output at the largest formation, the Permian Basin, is expected to rise 57,000 BBL/d to 4.73 million BBL/d. (Reuters)
REFINING
European Refining Margins Turn Negative - Northwest European oil refining margins turned negative on Tuesday, falling to around -$0.49 a barrel. Margins fell to their lowest since October 2013. (Reuters)
CORPORATE
ConocoPhillips Targets $50 Billion Free Cash Flow over Next Decade - ConocoPhillips (NYSE:COP) unveiled a long-term plan on Tuesday to boost oil and gas production by about 3% per year, restrain annual spending to about $7 billion and return $50 billion to shareholders over the next decade. ConocoPhillips expects several decades ahead of lackluster oil prices, with U.S. oil to average between $40 to $70 per barrel through the 2050s. (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 trading, logistics and marketing communities. We are the number one source for information about electricity 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. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
