MPLX, U.S. Natural Gas Storage Build: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

U.S. GOVERNMENT
U.S. Settles Air Pollution Cases with Three Natural Gas Processors - The Biden administration on Thursday said it had agreed on separate settlements worth about $25 million in total with three natural gas processors to reduce air pollution across 12 states. The settlements announced by the Department of Justice and the Environmental Protection Agency require three companies, Williams Companies Incorporated (NYSE:WMB) (Tulsa, Oklahoma), MPLX LP (NYSE:MPLX) (Findlay, Ohio) and WES DJ Gathering LLC, to pay a combined $9.25 million in civil penalties and make about $16 million in improvements at plants and compressor stations. (Reuters)

NATURAL GAS
U.S. Sees Big Natural Gas Storage Build - The U.S. Energy Information Administration (EIA) said utilities added 75 billion cubic feet (Bcf) of natural gas to storage in the week ending April 14. That compares with an increase of 47 Bcf in the same week last year and a five-year (2018-2022) average increase of 41 Bcf. (Reuters)

RUSSIA
Oil Price Cap Helps Lowers Russia's Exports 35% in First Quarter - The value of Russia's exports fell 35% year-on-year in the first quarter of 2023, due in part to a Western price cap on some Russian oil products, Russia's central bank said on Thursday. "The cost of oil exports decreased both due to lower prices and because of the embargo and price ceiling by a host of countries on Russian oil and oil products," the central bank said in a report. It said the price of Brent crude averaged $81 a barrel in the quarter, down 18% year on year. "Russian oil prices have declined more strongly," the bank said. "The discount for Russian oil to Brent crude has widened, including because of the price ceiling." (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).