Europe's LNG Imports, Marathon Petroleum: 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.

PRODUCTION
Gulf of Mexico Producers Cut Production Ahead of Storm - Oil and gas producers began shutting in U.S. Gulf of Mexico output and pulling workers off platforms on Tuesday ahead of a late hurricane season storm threatening offshore fields. The U.S. National Hurricane Center warned of steady to rapid intensification over the next 24 to 36 hours, with Tropical Storm Rafael forecast to became a Category 1 hurricane by early Wednesday. Producers could lose between 3.1 million and 4.9 million barrels of oil and 4.56 billion to 6.39 billion cubic feet of natural gas, researchers predicted. (Reuters)

LNG
Europe's October LNG Imports Rise, Asia's Decline - Europe's imports of liquefied natural gas rose in October for the first month in 10 while those in Asia dropped for the first time since June. The rise in Europe's imports and the decline in Asia's is a reversal of the recent trend, but the shift in October is not enough to alter the year-to-date picture of a soft Europe and a strong Asia. Arrivals of the super-chilled fuel in Europe were 7.54 million metric tons in October, up from 6.37 million in September and the most since May, according to data compiled by commodity analysts Kpler. Asia's LNG imports were 24.36 million tons in October, down from 24.72 million in September and the lowest since July, according to Kpler data. (Reuters)

EARNINGS REPORTS
Marathon Petroleum's Quarterly Profit Shrinks - Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio) yesterday reported net income of $622 million for the third quarter of 2024, compared with net income of $3.3 billion for the third quarter of 2023. The third quarter of 2024 adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA) was $2.5 billion, compared with $5.7 billion for the third quarter of 2023. (Marathon Petroleum)

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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).