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Released June 01, 2023 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
PRODUCTION
U.S. March Crude Oil Output Reaches Highest in Three Years - U.S. field production of crude oil rose in March to 12.696 million barrels per day (BBL/d), the highest since March 2020, when the COVID-19 pandemic began to decimate global energy demand, Energy Information Administration (EIA) data showed on Wednesday. The higher crude oil output came as production in Texas rose 1.8% to 5.398 million BBL/d, also its highest since March 2020, the EIA data showed. (Reuters)
LNG
Equinor Says Leak Stopped at Hammerfest LNG Plant - A gas leak at Norway's Hammerfest liquefied natural gas (LNG) production plant has been stopped and normalization is underway, but it is too soon to say when production will resume, Equinor (NYSE:EQNR) (Stavanger, Norway) said on Wednesday. The plant was shut down after the leak. It can process 18.4 million cubic meters of gas per day when fully operational, slightly more than 5% of Norway's gas export capacity. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)
NATURAL GAS
U.S. Natural Gas Falls About 3% on Higher Output - U.S. natural gas futures fell about 3% on Wednesday on record U.S. output, a decline in gas flows to LNG export plants due to maintenance and rising exports from Canada after wildfires caused some energy firms to shut in production earlier in the month. The price decline came despite forecasts for warmer than normal weather in mid-June that will boost air conditioning demand. Front-month gas futures for July delivery on the New York Mercantile Exchange fell 6.1 cents, or 2.6%, to settle at $2.266 per million British thermal units. (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) 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).
PRODUCTION
U.S. March Crude Oil Output Reaches Highest in Three Years - U.S. field production of crude oil rose in March to 12.696 million barrels per day (BBL/d), the highest since March 2020, when the COVID-19 pandemic began to decimate global energy demand, Energy Information Administration (EIA) data showed on Wednesday. The higher crude oil output came as production in Texas rose 1.8% to 5.398 million BBL/d, also its highest since March 2020, the EIA data showed. (Reuters)
LNG
Equinor Says Leak Stopped at Hammerfest LNG Plant - A gas leak at Norway's Hammerfest liquefied natural gas (LNG) production plant has been stopped and normalization is underway, but it is too soon to say when production will resume, Equinor (NYSE:EQNR) (Stavanger, Norway) said on Wednesday. The plant was shut down after the leak. It can process 18.4 million cubic meters of gas per day when fully operational, slightly more than 5% of Norway's gas export capacity. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)
NATURAL GAS
U.S. Natural Gas Falls About 3% on Higher Output - U.S. natural gas futures fell about 3% on Wednesday on record U.S. output, a decline in gas flows to LNG export plants due to maintenance and rising exports from Canada after wildfires caused some energy firms to shut in production earlier in the month. The price decline came despite forecasts for warmer than normal weather in mid-June that will boost air conditioning demand. Front-month gas futures for July delivery on the New York Mercantile Exchange fell 6.1 cents, or 2.6%, to settle at $2.266 per million British thermal units. (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) 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).
