New Canada-U.S. Pipeline Permit, Ohio Power Plant Sale: Your Daily Energy News

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News highlights compiled by Industrial Info Resources (Sugar Land, Texas) dealing with the energy markets.

Pipelines

Trump Signs Order Reviving Parts of Keystone XL
On Thursday, U.S. President Donald Trump signed an executive order granting a cross-border permit for a pipeline to carry crude oil from Canada into Wyoming. The project derives makes use of some infrastructure of the cancelled Keystone XL crude oil pipeline and is being headed up TC Energy spinoff South Bow and its U.S. partner Bridger Pipeline. Industrial Info Resources data show that Bridger's planned 650-mile pipeline in Montana and Wyoming would carry 550,000 barrels per day of crude oil. Subscribers to the Industrial Info Resources Global Market Intelligence (GMI) Pipelines Project Database can learn more by viewing the related project reports.

Oil & Gas Production

ConocoPhillips Reduces Production Outlook
ConocoPhillips announced a reduced production outlook for this quarter, primarily caused by damage to the company's assets in Qatar, where it has a stake in QatarEnergy's Ras Laffan liquefied natural gas (LNG) plant, which has declared force majeure on some production after damage caused by the Middle East conflict. On Thursday, the company said it expects production of between 2.185 million and 2.215 million barrels of oil equivalent per day (boe/d) this quarter, a decline of about 20,000 boe/d from its previous forecast, primarily linked to Qatar. The company also reduced its production forecast for the full year by about 40,000 boed to between 2.29 million boe/d and 2.325 million boe/d.

Power

Bitcoin Miner MARA to Buy Ohio Gas Plant Operator
Bitcoin miner MARA said Thursday that it would by Ohio natural gas-fired power plant operator Long Ridge Energy & Power from FTAI Infrastructure for $1.5 billion. Industrial Info Resources data show Long Ridge owns the 521-megawatt Long Ridge Energy Power Station in Hannibal, Ohio, which has been operating since 2021. According to Reuters, the icing on the cake for MARA is the 1,600 acres of land around the plant on which the company could construct a data center.

Key Takeaways

• Bridger Pipeline has applied to develop a 650-mile pipeline from the Canada-Montana border to Wyoming. President Trump signed an executive Thursday allowing a cross-border permit for the pipeline.
• ConocoPhillips has reduced its production outlooks for the current quarter and full year, largely due to damage to its Qatar assets.
• Bitcoin miner MARA announced it will be the new owner of a 521-MW gas-fired power plant in Ohio.

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About Industrial Info Resources
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, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).