North Dakota Reduced Oil Output, Shell & QatarEnergy Naphtha Contract: 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.

PRODUCTION
North Dakota Flags Wildfires for Reduced Oil & Gas Production - The North Dakota Pipeline Authority said on Tuesday that the state's oil production is estimated to be down nearly 60,000 to 90,000 barrels per day due to the ongoing wildfires in the U.S. state. "Associated wellhead natural gas production today is estimated to be down 0.17-0.26 billion cubic feet per day," Justin Kringstad, the director of the North Dakota Pipeline Authority, said in an emailed response to Reuters. (Reuters)

SUPPLY AGREEMENTS
QatarEnergy Reaches 20-Year Naphtha Supply Agreement with Shell - QatarEnergy (Doha, Qatar) has entered into a long-term naphtha supply agreement with Shell plc (NYSE:SHEL) (London, England), supplying up to 18 million metric tons of naphtha to Shell over 20 years from next April. "We are delighted to sign QatarEnergy's first 20-year naphtha sales agreement, the largest and longest to date," said Saad al-Kaabi, the head of QatarEnergy and also state minister for energy. (Reuters)

NATURAL GAS
EIA: U.S. Natural Gas Output to Decline in 2024 While Demand Rises - U.S. natural gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected dry gas production will ease from a record 103.8 billion cubic feet per day (Bcf/d) in 2023 to 103.5 Bcf/d in 2024 as several producers reduce drilling activities after average monthly spot gas prices at the Henry Hub benchmark fell to a 32-year low in March. In 2025, EIA projected output would rise to 104.6 Bcf/d. The agency also projected domestic gas consumption would rise from a record 89.1 Bcf/d in 2023 to 90.1 Bcf/d in 2024 before easing back to 89.1 Bcf/d in 2025. (Reuters)

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About Industrial Info
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