Flowco, Lower U.S. Crude Oil Reserves: 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
Oilfield Services Provider Flowco Raises $427 Million in U.S. IPO - Flowco Holdings (Houston, Texas) has raised $427.2 million after pricing its U.S. initial public offering (IPO) above its targeted range, the oilfield services provider said on Wednesday. Flowco priced its offering of 17.8 million shares at $24 each. The company had marketed to list its shares in the range of $21 and $23. The company will trade on the New York Stock Exchange under the ticker FLOC. (Reuters)

CRUDE OIL
U.S. Crude Oil Stocks Fall to Two-Year Low - U.S. crude oil stocks, excluding the Strategic Petroleum Reserve, fell last week to their lowest since April 2022 as exports rose and imports fell, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude oil inventories fell by 2 million barrels to 412.7 million barrels in the week ending January 10, the EIA said. Net U.S. crude oil imports fell by 1.3 million barrels per day (BBL/d), the EIA said, to 2.05 million BBL/d, and weekly exports were up 1 million BBL/d to 4.08 million BBL/d. (Reuters)

NATURAL GAS
Storage Operator: Germany Has Enough Gas for Winter - Germany has sufficient natural gas in storage to cover demand over the current 2024-25 winter season, despite the end of Russian gas exports to central Europe on January 1, storage operators group INES said on Thursday. "Despite the complete loss of gas transport through Ukraine, a gas shortage is no longer expected," INES said in a statement. It added the target for storage caverns to be at least 30% full by February 1 will be met. (Reuters)

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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).