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Released August 05, 2020 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
LNG
Freeport Seeks More Time to Build Train 4 at Texas LNG Export Plant - U.S. liquefied natural gas (LNG) company Freeport LNG on Monday asked federal energy regulators for three more years, until May 2026, to complete its proposed fourth liquefaction train at its LNG export plant in Texas. The U.S. Federal Energy Regulatory Commission (FERC) approved construction of the fourth train in May 2019, requiring Freeport to finish the facility within four years by May 2023. (Reuters)
EARNINGS REPORTS
Pioneer Natural Resources Widens Net Loss on Pandemic Woes - U.S shale producer Pioneer Natural Resources (NYSE:PXD) posted a bigger quarterly loss on Tuesday, as crude prices dropped due to excess supply and a plunge in demand caused by the COVID-19 pandemic. The Permian Basin producer said net loss attributable to common shareholders was $439 million, compared with a loss of $169 million last year. (Reuters)
PIPELINES
Equitrans Confirms Early 2021 Startup for Mountain Valley Natural Gas Pipeline - Pipeline company Equitrans Midstream Corporation (NYSE:ETRN) said on Tuesday it still expects to complete the $5.4 billion Mountain Valley natural gas pipeline from West Virginia to Virginia in early 2021. Equitrans said in its second-quarter earnings statement that the project's costs could rise by 5% to around $5.7 billion if it needs "to adapt the construction plan for potential complex judicial decisions and regulatory changes." When Equitrans started construction in February 2018, it estimated Mountain Valley would cost about $3.5 billion and be completed by the end of 2018. (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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
LNG
Freeport Seeks More Time to Build Train 4 at Texas LNG Export Plant - U.S. liquefied natural gas (LNG) company Freeport LNG on Monday asked federal energy regulators for three more years, until May 2026, to complete its proposed fourth liquefaction train at its LNG export plant in Texas. The U.S. Federal Energy Regulatory Commission (FERC) approved construction of the fourth train in May 2019, requiring Freeport to finish the facility within four years by May 2023. (Reuters)
EARNINGS REPORTS
Pioneer Natural Resources Widens Net Loss on Pandemic Woes - U.S shale producer Pioneer Natural Resources (NYSE:PXD) posted a bigger quarterly loss on Tuesday, as crude prices dropped due to excess supply and a plunge in demand caused by the COVID-19 pandemic. The Permian Basin producer said net loss attributable to common shareholders was $439 million, compared with a loss of $169 million last year. (Reuters)
PIPELINES
Equitrans Confirms Early 2021 Startup for Mountain Valley Natural Gas Pipeline - Pipeline company Equitrans Midstream Corporation (NYSE:ETRN) said on Tuesday it still expects to complete the $5.4 billion Mountain Valley natural gas pipeline from West Virginia to Virginia in early 2021. Equitrans said in its second-quarter earnings statement that the project's costs could rise by 5% to around $5.7 billion if it needs "to adapt the construction plan for potential complex judicial decisions and regulatory changes." When Equitrans started construction in February 2018, it estimated Mountain Valley would cost about $3.5 billion and be completed by the end of 2018. (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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
