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Released April 26, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
REFINING
U.S. Refiners Set for Strong Start to 2022 - U.S. oil refiners expect strong first-quarter earnings as margins to sell gasoline and diesel strengthened due to a steep dropoff in refining capacity and crude oil supplies tightened because of Russia's war with Ukraine. Refining capacity worldwide has dropped during the coronavirus pandemic, with several less profitable oil refineries closing in the last two years. However, worldwide fuel demand has rebounded to near pre-pandemic levels, boosting profits for facilities that are still operating. (Reuters)
CRUDE OIL
Oil Slumps 4% - Oil slumped about 4% on Monday to its lowest in two weeks on growing worries about the global energy demand outlook due to prolonged COVID-19 lockdowns in Shanghai and potential increases in U.S. interest rates. Brent futures fell $4.33, or 4.1%, to settle at $102.32 a barrel, while U.S. West Texas Intermediate (WTI) crude oil fell $3.53, or 3.5%, to settle at $98.54. (Reuters)
PIPELINES
Kinder Morgan Launches Open Season on Permian Highway Expansion - Kinder Morgan's (NYSE:KMI) (Houston, Texas) Permian Highway Pipeline, LLC (PHP) announced a binding open season to solicit commitments for an expansion project on its natural gas pipeline system. Upon achieving a final investment decision, the project will increase PHP's capacity by nearly 650 million cubic feet per day. A foundation shipper has already executed long-term binding transportation agreements for half of this expansion capacity. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipeline Project Database can click here for a related project report. (BusinessWire)
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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.
REFINING
U.S. Refiners Set for Strong Start to 2022 - U.S. oil refiners expect strong first-quarter earnings as margins to sell gasoline and diesel strengthened due to a steep dropoff in refining capacity and crude oil supplies tightened because of Russia's war with Ukraine. Refining capacity worldwide has dropped during the coronavirus pandemic, with several less profitable oil refineries closing in the last two years. However, worldwide fuel demand has rebounded to near pre-pandemic levels, boosting profits for facilities that are still operating. (Reuters)
CRUDE OIL
Oil Slumps 4% - Oil slumped about 4% on Monday to its lowest in two weeks on growing worries about the global energy demand outlook due to prolonged COVID-19 lockdowns in Shanghai and potential increases in U.S. interest rates. Brent futures fell $4.33, or 4.1%, to settle at $102.32 a barrel, while U.S. West Texas Intermediate (WTI) crude oil fell $3.53, or 3.5%, to settle at $98.54. (Reuters)
PIPELINES
Kinder Morgan Launches Open Season on Permian Highway Expansion - Kinder Morgan's (NYSE:KMI) (Houston, Texas) Permian Highway Pipeline, LLC (PHP) announced a binding open season to solicit commitments for an expansion project on its natural gas pipeline system. Upon achieving a final investment decision, the project will increase PHP's capacity by nearly 650 million cubic feet per day. A foundation shipper has already executed long-term binding transportation agreements for half of this expansion capacity. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipeline Project Database can click here for a related project report. (BusinessWire)
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.
