LNG Canada, Trump Urges Drilling: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

LNG
LNG Canada Produces LNG for Export - LNG Canada (Kitimat, British Columbia) has produced its first liquefied natural gas (LNG) for export from its Kitimat facility, a spokesperson for the project confirmed on Sunday. The plant is the first large-scale Canadian LNG project to begin production and also the first major LNG facility in North America with direct access to the Pacific Coast, significantly reducing sail time to Asian markets when compared with U.S. Gulf coast facilities. (Reuters)

PRODUCTION
Trump Exhorts U.S. to Drill for Oil, Gas After Iran Attacks - U.S. President Donald Trump urged his administration on Monday to boost drilling rates and market players to keep oil prices down amid fears that the aftermath of the U.S. attacks on Iran's nuclear facilities could cause energy prices to spike. Trump addressed the U.S. Department of Energy in a post on his Truth Social platform encouraging it to "drill, baby, drill" and saying, "I mean now," despite no major oil disruptions after the bombings. (Reuters)

CRUDE OIL
Oil Down 7% on Monday as Iran Targets U.S. Base - Oil prices settled down more than 7% on Monday, losing more than $5 a barrel after Iran took no action to disrupt oil and gas tanker traffic through the Strait of Hormuz, but instead attacked a U.S. military base in Qatar in retaliation for U.S. attacks on its nuclear facilities. Brent crude futures closed down $5.53, or 7.2%, at $71.48 a barrel, while U.S. West Texas Intermediate (WTI) eased $5.53, or 7.2%, to $68.51. (Reuters)

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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).