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Released November 10, 2023 | 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
EIA: U.S. 2023 Oil Output to Rise Less than Forecast - U.S. crude oil production this year will rise by slightly less than previously expected while demand will fall, the U.S. Energy Information Administration (EIA) said this week. The EIA issued the new outlook after Saudi Arabia and Russia extended voluntary production cuts of 1.3 million barrels per day (BBL/d) through December as demand concerns weigh. U.S. crude oil production will rise to 12.9 million BBL/d in 2023, the agency said, compared with its previous estimate of 12.92 million BBL/d. (Reuters)
LNG
New Fortress Delays Start of Mexican LNG Plant - U.S. liquefied natural gas (LNG) developer New Fortress Energy (NASDAQ:NFE) (New York, New York) has postponed the commercial start of Mexico's first LNG plant to December, company officials said on Wednesday, following delays in receiving the infrastructure. The company previously had planned to begin commercial operations in September at the 1.4 million-tonne-per-yaer floating LNG plant located off the coast of Altamira, Mexico, with first cargo departing for exports in October. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the project report. (Reuters)
PRODUCTION
Petronas to Drill Two Wells in Suriname for Gas Development - Malaysian oil company Petronas (Kuala Lumpur) is planning to drill at least two additional wells offshore Suriname next year to gather more data for its field plans before making a final investment decision for its area, Block 52, state firm Staatsolie said on Thursday. Petronas Chief Operating Officer Adnan Zainal Abidin said the company is considering the possibility of producing LNG from floating facilities in Suriname, according to Staatsolie's statement. (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
EIA: U.S. 2023 Oil Output to Rise Less than Forecast - U.S. crude oil production this year will rise by slightly less than previously expected while demand will fall, the U.S. Energy Information Administration (EIA) said this week. The EIA issued the new outlook after Saudi Arabia and Russia extended voluntary production cuts of 1.3 million barrels per day (BBL/d) through December as demand concerns weigh. U.S. crude oil production will rise to 12.9 million BBL/d in 2023, the agency said, compared with its previous estimate of 12.92 million BBL/d. (Reuters)
LNG
New Fortress Delays Start of Mexican LNG Plant - U.S. liquefied natural gas (LNG) developer New Fortress Energy (NASDAQ:NFE) (New York, New York) has postponed the commercial start of Mexico's first LNG plant to December, company officials said on Wednesday, following delays in receiving the infrastructure. The company previously had planned to begin commercial operations in September at the 1.4 million-tonne-per-yaer floating LNG plant located off the coast of Altamira, Mexico, with first cargo departing for exports in October. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the project report. (Reuters)
PRODUCTION
Petronas to Drill Two Wells in Suriname for Gas Development - Malaysian oil company Petronas (Kuala Lumpur) is planning to drill at least two additional wells offshore Suriname next year to gather more data for its field plans before making a final investment decision for its area, Block 52, state firm Staatsolie said on Thursday. Petronas Chief Operating Officer Adnan Zainal Abidin said the company is considering the possibility of producing LNG from floating facilities in Suriname, according to Staatsolie's statement. (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).
