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Released May 03, 2023 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
PIPELINES
Equitrans Says It Could Complete Mountain Valley Pipeline by End of 2023 - U.S. energy company Equitrans Midstream (NYSE:ETRN) (Pittsburgh, Pennsylvania) said on Tuesday it expects federal agencies to issue the required authorizations for its $6.6 billion Mountain Valley natural gas pipeline from West Virginia to Virginia by the early summer. That should allow the company to finish the long-delayed project by the end of 2023; however, Equitrans warned in its first-quarter earnings that "there remains significant risk and uncertainty, including regarding current and likely litigation." Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related reports. (Reuters)
EARNINGS REPORTS
MPLX Reports Strong Profit on Higher Throughput - Midstream company MPLX LP (NYSE:MPLX) (Findlay, Ohio) on Tuesday reported record earnings for the first quarter due to a 6% boost in oil and gas pipeline throughputs and higher pipeline tariff rates. The company's first-quarter 2023 net income rose to $943 million from $825 million in the prior year. (Reuters)
PRODUCTION
Mexico's Proven Oil & Gas Reserves Tick Upward - Mexico's oil regulator said on Tuesday the country's total proven oil and gas reserves rose nearly 2% to reach 8.162 billion barrels of crude oil equivalent (boe), up from 8.014 billion barrels a year ago. The National Hydrocarbons Commission reported crude oil reserves up slightly at 6.155 billion barrels, from 6.059 billion boe reported last year, while gas reserves rose to 11.029 trillion cubic feet (Tcf) from 10.781 Tcf a year earlier. (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).
PIPELINES
Equitrans Says It Could Complete Mountain Valley Pipeline by End of 2023 - U.S. energy company Equitrans Midstream (NYSE:ETRN) (Pittsburgh, Pennsylvania) said on Tuesday it expects federal agencies to issue the required authorizations for its $6.6 billion Mountain Valley natural gas pipeline from West Virginia to Virginia by the early summer. That should allow the company to finish the long-delayed project by the end of 2023; however, Equitrans warned in its first-quarter earnings that "there remains significant risk and uncertainty, including regarding current and likely litigation." Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related reports. (Reuters)
EARNINGS REPORTS
MPLX Reports Strong Profit on Higher Throughput - Midstream company MPLX LP (NYSE:MPLX) (Findlay, Ohio) on Tuesday reported record earnings for the first quarter due to a 6% boost in oil and gas pipeline throughputs and higher pipeline tariff rates. The company's first-quarter 2023 net income rose to $943 million from $825 million in the prior year. (Reuters)
PRODUCTION
Mexico's Proven Oil & Gas Reserves Tick Upward - Mexico's oil regulator said on Tuesday the country's total proven oil and gas reserves rose nearly 2% to reach 8.162 billion barrels of crude oil equivalent (boe), up from 8.014 billion barrels a year ago. The National Hydrocarbons Commission reported crude oil reserves up slightly at 6.155 billion barrels, from 6.059 billion boe reported last year, while gas reserves rose to 11.029 trillion cubic feet (Tcf) from 10.781 Tcf a year earlier. (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).
