EQT, Equinor, U.S. Oil Imports: 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.

CRUDE OIL
Saudi Oil Imports to West Coast Fall Dramatically with Trans Mountain Opening - U.S. imports of crude oil from Saudi Arabia hit a near four-year low last week, U.S. government data showed on Wednesday, as Canada's Trans Mountain Pipeline sent more oil to the U.S. West Coast. West Coast refiners cut their Saudi crude imports to 23,000 barrels per day (BBL/d) in October, the lowest on record, and the total for 2024 likely will average around 50,000 BBL/d, about 63% below last year, according to the Kpler data. (Reuters)

U.S. Crude Oil, Fuels Inventories Drop - U.S. crude oil inventories fell 515,000 barrels in the week ending October 25 to 425.5 million barrels, according to the U.S. Energy Information Administration (EIA). Gasoline stocks dropped by 2.7 million barrels to 210.9 million barrels during the week. This is their lowest level since November 2021. The EIA reported that distillate stocks fell by 1 million barrels. (Reuters)

CORPORATE
EQT to Sell Remaining Pennsylvania Natural Gas Assets to Equinor - EQT Corporation (NYSE:EQT) (Pittsburgh, Pennsylvania) said earlier this week it would sell its remaining interest in its non-operated natural gas assets in northeast Pennsylvania for $1.25 billion in cash to Equinor (NYSE:EQNR) (Stavanger, Norway) . The sale comes just months after EQT sold a 40% interest in the assets to Equinor USA in exchange for Equinor's onshore asset in the Appalachian Basin and $500 million in cash. (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).