EPA Lawsuits, Citgo, Canadian Oil Sands Production: 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.

ENVIRONMENTAL
U.S. States Take Aim at EPA Carbon Law - Republican attorneys general from 27 U.S. states and an electric utility trade group sued the U.S. Environmental Protection Agency (EPA) on Thursday, seeking to block a landmark rule requiring sweeping reductions in carbon emissions from existing coal-fired power plants and new natural gas plants. The rule, finalized by President Joe Biden's administration last month as part of an effort to combat climate change, was challenged in three lawsuits filed in the U.S. Court of Appeals for the District of Columbia Circuit, including one by 25 states spearheaded by West Virginia and Indiana, another by Ohio and Kansas, and a third by the National Rural Electric Cooperative Association (Arlington, Virginia). (Reuters)

EARNINGS REPORTS
Citgo's Quarterly Income Show Sharp Decline - Refiner Citgo Petroleum (Houston, Texas) on Thursday reported its first-quarter net income fell 56% to $410 million, from $937 million in the same period a year ago. The Venezuela-owned company said its throughput rose to 830,000 barrels per day (BBL/d), the third highest in its history, up from 814,000 BBL/d in the year-ago quarter. Despite high throughput and utilization rates, the company's earnings declined. (Reuters)

PRODUCTION
Report: Canadian Oil Sands Production to Rise 15% by 2030 - Canada's oil sands will produce 3.8 million BBL/d by 2030, a 15% increase from current levels, as companies focus on investing in optimizing existing projects and making them more efficient, a report from S&P Global Commodity Insights said on Thursday. Oil sands production has increased 1.3 million BBL/d over the past decade and currently stands at 3.3 million BBL/d. Industrial Info is tracking more than 100 active capital oil sands projects in Canada, valued at $86 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing by the related project reports. (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).