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Project(s): View 1 related project in PECWeb
Plant(s): View 1 related plant in PECWeb
Released March 25, 2025 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CRUDE OIL
Trump to Impose Tariffs on Buyers of Venezuelan Oil - U.S. President Donald Trump said on Monday that any country buying oil or gas from Venezuela will pay a 25% tariff on trades with the United States, while his administration extended a deadline for U.S. producer Chevron Corporation (NYSE:CVX) (Houston, Texas) to wind down operations in the country. However, in an expected move, Trump's government also said it would wait seven more weeks until May 27 before terminating a license that the U.S. has granted to Chevron since 2022 to operate in sanctioned Venezuela and export its oil to the U.S. (Reuters)
LNG
LNG Canada to Start Cooldown of Plant Next Week in Final Step Before Production -- A liquefied natural gas (LNG) tanker is expected to arrive in Canada on April 1 to start cooling down LNG Canada's (Calgary, Alberta) plant in Kitimat, British Columbia, considered the final step before the plant begins production of the superchilled gas. "The delivery is expected in early April and is critical to our safe start-up and commissioning process now underway, and to achieving our first cargo by the middle of 2025," LNG Canada told Reuters on Monday. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Reuters)
EARNINGS REPORTS
Sinopec's 2024 Net Profit Drops 16.8% - Sinopec (Beijing, China) reported a 16.8% decline in 2024 net profit, citing lower crude oil prices and the accelerated development of China's "new energy vehicle" industry. The world's largest oil refiner by capacity posted net income of 50.3 billion yuan (US$6.94 billion), a 16.8% decline from 2023. The fall in net income compared with a decline of 9.9% in 2023, also on falling oil prices. (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 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).
CRUDE OIL
Trump to Impose Tariffs on Buyers of Venezuelan Oil - U.S. President Donald Trump said on Monday that any country buying oil or gas from Venezuela will pay a 25% tariff on trades with the United States, while his administration extended a deadline for U.S. producer Chevron Corporation (NYSE:CVX) (Houston, Texas) to wind down operations in the country. However, in an expected move, Trump's government also said it would wait seven more weeks until May 27 before terminating a license that the U.S. has granted to Chevron since 2022 to operate in sanctioned Venezuela and export its oil to the U.S. (Reuters)
LNG
LNG Canada to Start Cooldown of Plant Next Week in Final Step Before Production -- A liquefied natural gas (LNG) tanker is expected to arrive in Canada on April 1 to start cooling down LNG Canada's (Calgary, Alberta) plant in Kitimat, British Columbia, considered the final step before the plant begins production of the superchilled gas. "The delivery is expected in early April and is critical to our safe start-up and commissioning process now underway, and to achieving our first cargo by the middle of 2025," LNG Canada told Reuters on Monday. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Reuters)
EARNINGS REPORTS
Sinopec's 2024 Net Profit Drops 16.8% - Sinopec (Beijing, China) reported a 16.8% decline in 2024 net profit, citing lower crude oil prices and the accelerated development of China's "new energy vehicle" industry. The world's largest oil refiner by capacity posted net income of 50.3 billion yuan (US$6.94 billion), a 16.8% decline from 2023. The fall in net income compared with a decline of 9.9% in 2023, also on falling oil prices. (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 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).
