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Released June 22, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
LNG
ExxonMobil Joins Qatar in Large LNG Project - QatarEnergy (Doha, Qatar) on Tuesday signed a deal with Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) for the Gulf state's North Field East expansion, the world's largest liquefied natural gas (LNG) project. Qatar is partnering with international companies in the first and largest phase of the nearly $30 billion expansion that will boost Qatar's position as the world's top LNG exporter. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can click here for related reports. (Reuters)
NATURAL GAS
U.S. Natural Gas Futures Decline - U.S. natural gas futures fell about 2% to an eight-week low on Tuesday on forecasts for less demand over the next two weeks than previously projected and expectations the Texas Freeport LNG export plant shutdown will allow utilities to quickly rebuild low U.S. stockpiles. Front-month gas futures for July delivery fell 13.6 cents, or 2.0%, to settle at $6.808 per million British thermal units, their lowest close since April 25. (Reuters)
REFINING
Surge in Renewable Diesel Won't Offset Loss of Petroleum Diesel - A flood of U.S. renewable diesel plants set to come online in the next three years will not be enough to offset the loss of petroleum diesel refining capacity from plant closings since 2019, a Reuters analysis of federal data shows. U.S. refining capacity has declined in the last two years, as plants shut during the outset of the coronavirus pandemic, causing prices to spike. Several plants are being converted to facilities that can produce cleaner-burning renewable diesel, but at least for now, those facilities will not fully replace those refined barrels. (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 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.
LNG
ExxonMobil Joins Qatar in Large LNG Project - QatarEnergy (Doha, Qatar) on Tuesday signed a deal with Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) for the Gulf state's North Field East expansion, the world's largest liquefied natural gas (LNG) project. Qatar is partnering with international companies in the first and largest phase of the nearly $30 billion expansion that will boost Qatar's position as the world's top LNG exporter. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can click here for related reports. (Reuters)
NATURAL GAS
U.S. Natural Gas Futures Decline - U.S. natural gas futures fell about 2% to an eight-week low on Tuesday on forecasts for less demand over the next two weeks than previously projected and expectations the Texas Freeport LNG export plant shutdown will allow utilities to quickly rebuild low U.S. stockpiles. Front-month gas futures for July delivery fell 13.6 cents, or 2.0%, to settle at $6.808 per million British thermal units, their lowest close since April 25. (Reuters)
REFINING
Surge in Renewable Diesel Won't Offset Loss of Petroleum Diesel - A flood of U.S. renewable diesel plants set to come online in the next three years will not be enough to offset the loss of petroleum diesel refining capacity from plant closings since 2019, a Reuters analysis of federal data shows. U.S. refining capacity has declined in the last two years, as plants shut during the outset of the coronavirus pandemic, causing prices to spike. Several plants are being converted to facilities that can produce cleaner-burning renewable diesel, but at least for now, those facilities will not fully replace those refined barrels. (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 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.
