Marathon Petroleum, U.S. Natural Gas Output: 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.

REFINING
Marathon to Run Refineries at 90% Capacity in Q3 - Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio) plans to operate its 13 refineries at 90% of their combined 3 million-barrel-per-day capacity in the third quarter, Chief Financial Officer John Quaid said during a Tuesday conference call. Marathon's refineries ran at 97% of their combined capacity in the second quarter, Quaid said, adding that the throughput planned for the third quarter was based on needed maintenance to be performed and expected lower demand. (Reuters)

PRODUCTION
EIA Forecasts Larger Decline in U.S. Natural Gas Output for 2024 - The U.S. Energy Information Administration (EIA) on Tuesday forecast a larger decline in natural gas output this year compared with earlier estimates, citing record-low prices earlier in 2024 that forced producers to curtail gas production. U.S. natural gas output will average around 103.3 billion cubic feet per day (Bcf/d) this year, the EIA said in its August edition of the Short-Term Energy Outlook report. That compares with 103.8 Bcf/d produced last year, and is a slight downgrade from a forecast of 103.5 Bcf/d in the July edition of the report. (Reuters)

CRUDE OIL
U.S. Crude Oil Inventories Fall, Fuels Rise - U.S. crude oil stockpiles fell last week while gasoline and distillate inventories rose as refining activity picked up and demand dropped, the EIA said on Wednesday. Crude oil inventories fell by 3.7 million barrels to 429.3 million barrels in the week ending August 2, the EIA said. Gasoline stocks rose by 1.3 million barrels in the week to 225.1 million barrels. Distillate stockpiles rose by 900,000 barrels in the week to 127.8 million barrels, the EIA said. (Reuters)

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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).