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Released May 13, 2020 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PIPELINES
Montana Judge Upholds Ruling that Canceled Keystone XL Permit - A federal judge in Montana on Monday upheld his ruling last month that canceled an environmental permit for the long-delayed Keystone XL oil pipeline and threatened other oil and natural gas pipeline projects with delays. Chief U.S. District Judge Brian Morris denied a request by the U.S. Army Corps of Engineers to narrow his April 15 ruling that canceled the so-called Nationwide Permit 12. The permit allows dredging work on pipelines across water bodies. Morris said that the Army Corps did not adequately consult with the U.S. Fish and Wildlife Service on risks to endangered species and habitat when it renewed the permit in 2017. (Project 47000438) (Reuters)
NATURAL GAS
EIA: U.S. Natural Gas Demand, Output to Fall in 2020, 2021 - U.S. natural gas production and demand will drop in 2020 and 2021 from record highs in 2019 as government steps to slow the spread of coronavirus cut economic activity and energy prices, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook on Tuesday. The EIA projected dry gas production will drop to 89.84 billion cubic feet per day (Bcf/d) in 2020 and 84.89 Bcf/d in 2021 from the all-time high of 92.21 Bcf/d in 2019. (Reuters)
CRUDE OIL
Oil Rises as OPEC Looks to Deepen Cuts - Oil prices rose on Tuesday after OPEC's de facto leader, Saudi Arabia, said it would increase supply curbs in June, while other members of the oil-producing group said they want to extend the deep cuts reached in April for a longer period than originally agreed. U.S. West Texas Intermediate (WTI) crude futures settled at $25.78 a barrel, up $1.64, or 6.8%. Brent crude futures settled at $29.98 a barrel, gaining 35 cents, or 1.2%. (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.
PIPELINES
Montana Judge Upholds Ruling that Canceled Keystone XL Permit - A federal judge in Montana on Monday upheld his ruling last month that canceled an environmental permit for the long-delayed Keystone XL oil pipeline and threatened other oil and natural gas pipeline projects with delays. Chief U.S. District Judge Brian Morris denied a request by the U.S. Army Corps of Engineers to narrow his April 15 ruling that canceled the so-called Nationwide Permit 12. The permit allows dredging work on pipelines across water bodies. Morris said that the Army Corps did not adequately consult with the U.S. Fish and Wildlife Service on risks to endangered species and habitat when it renewed the permit in 2017. (Project 47000438) (Reuters)
NATURAL GAS
EIA: U.S. Natural Gas Demand, Output to Fall in 2020, 2021 - U.S. natural gas production and demand will drop in 2020 and 2021 from record highs in 2019 as government steps to slow the spread of coronavirus cut economic activity and energy prices, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook on Tuesday. The EIA projected dry gas production will drop to 89.84 billion cubic feet per day (Bcf/d) in 2020 and 84.89 Bcf/d in 2021 from the all-time high of 92.21 Bcf/d in 2019. (Reuters)
CRUDE OIL
Oil Rises as OPEC Looks to Deepen Cuts - Oil prices rose on Tuesday after OPEC's de facto leader, Saudi Arabia, said it would increase supply curbs in June, while other members of the oil-producing group said they want to extend the deep cuts reached in April for a longer period than originally agreed. U.S. West Texas Intermediate (WTI) crude futures settled at $25.78 a barrel, up $1.64, or 6.8%. Brent crude futures settled at $29.98 a barrel, gaining 35 cents, or 1.2%. (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.
