Equinor, U.S. Crude Oil Stocks: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

PRODUCTION
Environmental Groups to Sue Over Canada Oil Project - Environmental groups are suing the Canadian government in a bid to overturn its approval of Equinor ASA's (NYSE:EQNR) (Stavanger, Norway) Bay du Nord offshore oil project, Sierra Club Canada, one of the plaintiffs, announced on Wednesday. The Canadian government approved the project in April, after an environmental assessment concluded it would not cause significant adverse effects. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the detailed project report. (Reuters)

POWER
U.S. Power Use to Rise in 2022 - U.S. power consumption will rise in 2022 and 2023 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will climb to 4,004 billion kilowatt-hours (kWh) in 2022 and 4,040 billion kWh in 2023 from 3,930 billion kWh in 2021. (Reuters)

CRUDE OIL
U.S. Crude Oil Supplies Rise - U.S. crude oil inventories shot upward by 8.5 million barrels to 424.2 million barrels for the week ending May 6, the EIA reported Wednesday. Gasoline stockpiles fell 3.6 million barrels to 225 million barrels for the week. U.S. distillate inventories declined 913,000 barrels to 104 million barrels. (IIR)

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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 world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.