Occidental Petroleum, Record U.S. Refining Capacity: 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
U.S. Refining Capacity Nears 19 Million Barrels per Day - U.S. crude oil refining capacity grew by nearly 1% in 2019, or 173,650 barrels per day (BBL/d) to nearly 19 million BBL/d, a new record, according to a report released on Wednesday by the U.S. Energy Information Administration (EIA). (Reuters)

NATURAL GAS
U.S. Natural Gas Falls to 25-Year Low as Stocks Fill - U.S. natural gas futures collapsed more than 7% to a near 25-year low on Thursday as demand destruction from the coronavirus left the world awash in the fuel. The EIA said U.S. utilities injected 120 billion cubic feet of gas into storage during the week ended June 19.

FINANCIAL
Occidental Signals Writedown of Up to $9 Billion - Occidental Petroleum Corporation (NYSE:OXY) will write down the value of its oil and gas properties by up to $9 billion this quarter and restructure some debts to avoid a possible default, the company said on Thursday. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.