EQT Extends Production Curbs, Entergy: 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
U.S. Crude Oil Stocks Decline - U.S. crude oil inventories fell sharply last week as exports jumped, while gasoline stockpiles decreased, the Energy Information Administration (EIA) said on Wednesday. U.S. crude oil stocks slumped by 6.4 million barrels to 453.6 million barrels in the week ended April 19, the EIA said. Inventories fell following the largest weekly rise this year in exports of 453,000 barrels per day (BBL/d) to 5.18 million BBL/d. Gasoline stocks fell by 600,000 barrels in the week to 226.7 million barrels, the EIA said. Distillate stockpiles rose by 1.6 million barrels in the week to 116.6 million barrels, the data showed. (Reuters)

NATURAL GAS
EQT Lowers Sales Volume Forecast, Extends Production Curtailments - EQT Corporation (NYSE:EQT) (Pittsburgh, Pennsylvania) on Tuesday cut its forecast for full-year sales volume and extended production curtailments through May, as the natural gas producer looks to tackle persistently low gas prices, which plunged 20.4% in the first quarter on higher-than-expected output, a warmer winter and outages at liquefied natural gas (LNG) facilities. EQT now expects full-year sales volume of between 2,100 billions of cubic feet equivalent (Bcfe) and 2,200 Bcfe, compared with 2,200 Bcfe and 2,300 Bcfe earlier. The company extended curtailments of 1 billion cubic feet per day through May, adding it could continue thereafter depending on market conditions. It had previously expected to curtail production until March. (Reuters)

POWER
Entergy Reports Lower Sales, Reduced Income - Entergy, which provides electricity and natural gas to customers in Arkansas, Louisiana, Mississippi and Texas, said its sales fell 0.5% to 31,172 gigawatt-hours in the first quarter of this year, largely due to lower demand from commercial and industrial customers. First-quarter results were reduced by operating and maintenance costs, including higher healthcare claims and more planned outages at non-nuclear plants, quarter over quarter, the company said. First-quarter 2024 income fell to $75 million from $311 million in the year-ago quarter due to higher depreciation and amortization expenses in the utilities segment. (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).