Released May 13, 2021 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
PRODUCTION
U.S. Natural Gas Output, Demand to Fall for Second Year - U.S. natural gas production and demand will drop for a second year in a row in 2021, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook on Tuesday. The EIA projected dry gas production will drop to 91.06 billion cubic feet per day (Bcf/d) in 2021 from 91.35 Bcf/d in 2020 before rising to 93.12 Bcf/d in 2022. The agency also projected gas consumption would fall to 82.64 Bcf/d in 2021 and 82.53 Bcf/d in 2022 from 83.25 Bcf/d in 2020. (Reuters)
CRUDE OIL
U.S. Crude Oil Stockpiles Fall - U.S. crude oil stockpiles dropped and exports fell to their lowest since 2018 in the week ending May7, while gasoline inventories rose unexpectedly and distillates hit their lowest levels in more than a year, the EIA said on Wednesday. Crude inventories fell by 427,000 barrels to 484.7 million barrels. East Coast stockpiles fell to the lowest on record, according to the data. Net U.S. crude oil imports rose by 2.4 million barrels per day (BBL/d), as exports alone dropped to 1.8 million BBL/d, their lowest since October 2018. U.S. gasoline stocks rose nearly 400,000 barrels in the week to 236.19 million barrels. Distillate stockpiles fell by 1.7 million barrels. (Reuters)
CORPORATE
Pipeline Operator Energy Transfer Mulls Chemical Acquisition - Energy Transfer (NYSE:ET) (Dallas Texas) is weighing acquisitions in the booming chemicals business, co-founder and executive chairman Kelcy Warren said on Wednesday at a conference in North Dakota. The company, which got a $2.4 billion windfall from a February storm-related surge in natural gas prices, could enter the chemicals and plastics market, preferably through an acquisition, he said. (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.
PRODUCTION
U.S. Natural Gas Output, Demand to Fall for Second Year - U.S. natural gas production and demand will drop for a second year in a row in 2021, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook on Tuesday. The EIA projected dry gas production will drop to 91.06 billion cubic feet per day (Bcf/d) in 2021 from 91.35 Bcf/d in 2020 before rising to 93.12 Bcf/d in 2022. The agency also projected gas consumption would fall to 82.64 Bcf/d in 2021 and 82.53 Bcf/d in 2022 from 83.25 Bcf/d in 2020. (Reuters)
CRUDE OIL
U.S. Crude Oil Stockpiles Fall - U.S. crude oil stockpiles dropped and exports fell to their lowest since 2018 in the week ending May7, while gasoline inventories rose unexpectedly and distillates hit their lowest levels in more than a year, the EIA said on Wednesday. Crude inventories fell by 427,000 barrels to 484.7 million barrels. East Coast stockpiles fell to the lowest on record, according to the data. Net U.S. crude oil imports rose by 2.4 million barrels per day (BBL/d), as exports alone dropped to 1.8 million BBL/d, their lowest since October 2018. U.S. gasoline stocks rose nearly 400,000 barrels in the week to 236.19 million barrels. Distillate stockpiles fell by 1.7 million barrels. (Reuters)
CORPORATE
Pipeline Operator Energy Transfer Mulls Chemical Acquisition - Energy Transfer (NYSE:ET) (Dallas Texas) is weighing acquisitions in the booming chemicals business, co-founder and executive chairman Kelcy Warren said on Wednesday at a conference in North Dakota. The company, which got a $2.4 billion windfall from a February storm-related surge in natural gas prices, could enter the chemicals and plastics market, preferably through an acquisition, he said. (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 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.
