EPA Methane Challenge, South China Sea Find: 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.

REGULATORY
Texas Challenges EPA Limits to Oil & Gas Industry Methane Emissions - Texas is suing the U.S. government over Environmental Protection Agency (EPA) rules that crack down on the oil and gas industry's releases of methane, a greenhouse gas that contributes to climate change. The lawsuit filed in the U.S. Circuit Court of Appeals for the D.C. Circuit challenges EPA rules first announced last year that seek to reduce methane emissions through measures like bans on routine flaring of natural gas produced at new oil wells. Texas Attorney General Ken Paxton (R), said the rules amount to regulatory overreach by the EPA, and usurp the role of states in establishing emission standards. The EPA declined to comment. (Reuters)

PRODUCTION
U.S. Leads Global Oil Production for Sixth Straight Year - U.S. crude oil production led global oil production for a sixth straight year, with a record-breaking average production of 12.9 million barrels per day, the U.S. Energy Information Administration (EIA) said in a release on Monday. "The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row," the EIA said. The agency says it is unlikely that the record will be broken by another country in the near term. (Reuters)

China's CNOOC Makes Large Oil Find in South China Sea - Chinese state-owned oil and gas giant CNOOC Limited has discovered a new reserve in the South China Sea containing more than 100 million tons of oil equivalent proved in-place, the company said in a statement on Friday. The reserve is located at CNOOC's deepwater Kaiping South oilfield in the Pearl River Delta near Guangdong province, and contains light crude oil, the statement said. (Reuters)

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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).