ExxonMobil Asset Sale, Waning Hydropower in New Zealand: 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.

CORPORATE
Bloomberg Law: ExxonMobil Looking to Sell Non-Core Permian Assets - Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) is looking to sell oil assets in the U.S. Permian Basin that could fetch $1 billion, Bloomberg Law reported on Tuesday. ExxonMobil wants to sell a collection of conventional oil and gas properties in the Permian across west Texas and New Mexico to focus on higher-growth assets. The company is offering 14 asset groups, eight operated by ExxonMobil and stakes in six non-operated groups, according to a company prospectus. (Reuters)

NATURAL GAS
Norway's Piped Export Gas Volumes Could Rival Historic High - Norwegian pipeline gas exports to Europe could approach a 2017 historic record this year, after rising 10% so far in 2024 following a decline in 2023, the head of system operator Gassco told Reuters on Tuesday. "This year to date, we are in a way back to the levels we were at in 2022," when exports were last near the all-time high, Gassco Chief Executive Officer Frode Leversund said. As of the end of July, Norwegian piped gas volumes totaled 70.2 billion cubic meters (bcm), compared with 64 bcm for the same period last year, Leversund said. (Reuters)

POWER
New Zealand Increases Fossil Fuel Use as Hydropower Wanes - Power generators in New Zealand have lifted output from fossil fuels to the highest in three years so far in 2024, as they struggle to offset the largest year-over-year drop in generation from hydro dams in roughly a decade. Total fossil fuel-fired electricity generation from January through July was 4.36 terawatt-hours (TWh), according to energy think tank Ember. That total was 1.75 TWh or 67% higher than during the same months in 2023, and nearly matched the 1.86 TWh drop in generation from the country's hydro dams during the same period. (Reuters)

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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).