Empty Oil Pipeline Space, Latin American Oil Auctions: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

PIPELINES
About Half of U.S. Oil Pipeline Space is Empty - Overall U.S. pipeline capacity utilization is at around 50%, compared with a range of 60% to 70% headed into early 2020 before the coronavirus pandemic hit, according to consultancy Wood Mackenzie. Pipelines overall are now half-full, as U.S. production, which surged to 13 million barrels per day (BBL/d) in early 2020, has averaged just 11 million BBL/d in 2021. (Reuters)

NATURAL GAS
U.S. Pulls Below-Average Natural Gas from Storage - The U.S. Energy Information Administration (EIA) said utilities pulled 88 billion cubic feet (Bcf) of natural gas from storage during the week ending December 10. That compares with a draw of 118 Bcf in the same week last year and a five-year (2016-2020) average decline of 114 Bcf. (Reuters)

PRODUCTION
Latin American Oil Auctions to Kick Off After Two-Year Lull - Latin America's oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana and the Andean region that are expected to attract bids from major oil firms. Brazil is set to receive bids on Friday for offshore oil reserves that analysts say are some of the most promising to ever come to market. In other countries in the region, more flexible bidding and fiscal terms have piqued the interest of oil companies after a two-year bidding lull. (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), 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.