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Released June 08, 2020 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PIPELINES
Illinois Rejects Bid to Delay Decision on Dakota Access Pipeline Expansion - Illinois regulators on Thursday unanimously rejected a request by environmental groups to delay a decision on Energy Transfer LP's (NYSE:ET) Dakota Access Pipeline expansion due to the coronavirus pandemic. The Illinois Commerce Commission still must rule on Energy Transfer's application to increase capacity on its 570,000 barrel-per-day crude oil pipeline by adding a series of pumping stations. The project has received approvals from several other U.S. states. (Project 300536762) (Reuters)
PRODUCTION
U.S. Rig Count Falls to Record Low for Fifth Week - The U.S. oil and gas rig count fell by 17, or 6%, to an all-time low of 284 in the week ending June 5. That was 691 rigs, or 71%, below this time last year and was the fifth week in a row the U.S. count fell to a fresh record low. (Reuters)
CRUDE OIL
Oil Climbs 5% on U.S. Jobs Report, OPEC+ Talk Hopes - Oil prices rose on Friday after an unexpected fall in the May U.S. jobless rate and OPEC's decision to bring forward to Saturday discussions on whether to extend record production cuts. Brent crude futures settled up $2.31, or 5.8%, at $42.30 a barrel, surging 19.2% on the week. U.S. West Texas Intermediate (WTI) crude futures rose $2.14, or 5.7%, to $39.55 a barrel, rising 10.7% on the week. (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 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.
PIPELINES
Illinois Rejects Bid to Delay Decision on Dakota Access Pipeline Expansion - Illinois regulators on Thursday unanimously rejected a request by environmental groups to delay a decision on Energy Transfer LP's (NYSE:ET) Dakota Access Pipeline expansion due to the coronavirus pandemic. The Illinois Commerce Commission still must rule on Energy Transfer's application to increase capacity on its 570,000 barrel-per-day crude oil pipeline by adding a series of pumping stations. The project has received approvals from several other U.S. states. (Project 300536762) (Reuters)
PRODUCTION
U.S. Rig Count Falls to Record Low for Fifth Week - The U.S. oil and gas rig count fell by 17, or 6%, to an all-time low of 284 in the week ending June 5. That was 691 rigs, or 71%, below this time last year and was the fifth week in a row the U.S. count fell to a fresh record low. (Reuters)
CRUDE OIL
Oil Climbs 5% on U.S. Jobs Report, OPEC+ Talk Hopes - Oil prices rose on Friday after an unexpected fall in the May U.S. jobless rate and OPEC's decision to bring forward to Saturday discussions on whether to extend record production cuts. Brent crude futures settled up $2.31, or 5.8%, at $42.30 a barrel, surging 19.2% on the week. U.S. West Texas Intermediate (WTI) crude futures rose $2.14, or 5.7%, to $39.55 a barrel, rising 10.7% on the week. (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.
