Imperial Oil, Nord Stream 2: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CORPORATE
Imperial Oil Expects Higher Capex in 2022 - Imperial Oil Limited (TSX:IMO) (Calgary, Alberta), which is majority-owned by Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas), expects 2022 capital spending to be C$1.4 billion (US$1.09 billion), higher than 2021 estimates of C$1.1 billion (US$853 million). Imperial expects upstream production to be between 425,000 and 440,000 oil equivalent barrels per day. Downstream throughput is expected to be between 395,000 barrels per day (BBL/d) and 405,000 BBL/d, with capacity utilization at 92% to 94%. (Reuters)

PIPELINES
Nord Stream 2 Starts Filling Second Pipe with Natural Gas - Nord Stream 2 AG (Zug, Switzerland) said on Friday it had started filling its second pipe with natural gas to move gas from Russia to Europe. "Like the first string (pipe), the second string will be gradually filled with gas to build the required inventory and pressure," the company said. The first pipe was filled with gas in October. Russia completed construction of the dual-pipeline in September. However, it is yet to obtain regulatory approval from Germany and the European Union. (Reuters)

PRODUCTION
U.S. Drillers Add Rigs - The U.S. oil and gas rig count rose three to 579 in the week ending December 17, its highest since April 2020, energy services firm Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs rose four to 475, their highest since April 2020, while gas rigs fell one to 104. (Reuters)

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About Industrial Info
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