Reports related to this article:
Project(s): View 1 related project in PECWeb
Plant(s): View 1 related plant in PECWeb
Released May 03, 2024 | SUGAR LAND
en
News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CORPORATE
U.S. Regulators Greenlight ExxonMobil-Pioneer Deal - U.S. regulators on Thursday gave the go-ahead to Exxon Mobil Corporation's (NYSE:XOM) (Spring, Texas) $60 billion purchase of Pioneer Natural Resources (NYSE:PXD) (Irving, Texas), but barred Pioneer's former chief executive officer (CEO) from ExxonMobil's board on allegations he attempted to collude with the Organization of Petroleum Exporting Countries and its allies (OPEC+) to raise oil prices. Former Pioneer CEO Scott Sheffield coordinated efforts with U.S. shale oil producers to constrain their output production and raise energy prices, the Federal Trade Commission (FTC) alleged. Sheffield used his influence "to align oil production across the Permian Basin in West Texas and New Mexico with OPEC+," the FTC claimed. (Reuters)
EARNINGS REPORTS
Shell Reports Strong Quarterly Earnings - Shell plc (NYSE:SHEL) (London, England) reported first-quarter profit of US$7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas (LNG) production rose. Shell's cashflow rose by 6% from the previous quarter to $13.3 billion, reflecting strong operational performance, particularly in the LNG division, which together with trading helped offset a decline in natural gas prices that has weighed on the earnings of its rivals. (Reuters)
PRODUCTION
Canadian Natural Resources Considers Expansion of Major Oil Sands Mine - Canadian Natural Resources Limited (NYSE:CNQ) (Calgary, Alberta) is looking at opportunities to significantly increase bitumen output at its main oil sands mine, the company said on Thursday. President Scott Stauth said the company is considering expanding the Horizon mining and upgrading plant in northern Alberta through new extraction and treatment processes. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can learn more by viewing by the project report. (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).
CORPORATE
U.S. Regulators Greenlight ExxonMobil-Pioneer Deal - U.S. regulators on Thursday gave the go-ahead to Exxon Mobil Corporation's (NYSE:XOM) (Spring, Texas) $60 billion purchase of Pioneer Natural Resources (NYSE:PXD) (Irving, Texas), but barred Pioneer's former chief executive officer (CEO) from ExxonMobil's board on allegations he attempted to collude with the Organization of Petroleum Exporting Countries and its allies (OPEC+) to raise oil prices. Former Pioneer CEO Scott Sheffield coordinated efforts with U.S. shale oil producers to constrain their output production and raise energy prices, the Federal Trade Commission (FTC) alleged. Sheffield used his influence "to align oil production across the Permian Basin in West Texas and New Mexico with OPEC+," the FTC claimed. (Reuters)
EARNINGS REPORTS
Shell Reports Strong Quarterly Earnings - Shell plc (NYSE:SHEL) (London, England) reported first-quarter profit of US$7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas (LNG) production rose. Shell's cashflow rose by 6% from the previous quarter to $13.3 billion, reflecting strong operational performance, particularly in the LNG division, which together with trading helped offset a decline in natural gas prices that has weighed on the earnings of its rivals. (Reuters)
PRODUCTION
Canadian Natural Resources Considers Expansion of Major Oil Sands Mine - Canadian Natural Resources Limited (NYSE:CNQ) (Calgary, Alberta) is looking at opportunities to significantly increase bitumen output at its main oil sands mine, the company said on Thursday. President Scott Stauth said the company is considering expanding the Horizon mining and upgrading plant in northern Alberta through new extraction and treatment processes. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can learn more by viewing by the project report. (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).
