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Energy Market highlights gathered by Industrial Info and IIR Energy
TERMINALS
DOE Rejects Initial Bids to Restock SPR - The U.S. Department of Energy (DOE) has rejected the first batch of bids from oil companies to resupply a small amount of oil to the nation's emergency crude oil stockpile in February, according to a DOE spokesperson. The DOE last month had said it would purchase up to 3 million barrels for delivery to the Strategic Petroleum Reserve (SPR) in February. "Following review of the initial submission, DOE will not be making any award selections for the February delivery window," the spokesperson said in an emailed statement. (Reuters)
PRODUCTION
Norway's Oil Output Expected to Jump - Norway's oil output is expected to rise by 6.9% this year as the huge Johan Sverdrup field ramps up production while gas volumes are predicted to remain unchanged near record highs, the Norwegian Petroleum Directorate (NPD) said on Monday. Production of crude oil and other petroleum liquids such as condensate is likely to increase to 2.02 million barrels per day (BBL/d) in 2023 from 1.89 million BBL/d last year, NPD's forecasts show. (Reuters)
POWER
Belgium Extends Life of Two Nuclear Reactors - Belgium has reached an agreement with French utility Engie (La Defense) to extend the life of two nuclear reactors by 10 years, the prime minister said on Monday, overturning a plan to exit nuclear power in 2025 as the war in Ukraine has changed energy strategy. The Doel 4 and Tihange 3 reactors--the newest of Belgium's seven reactors--were due to close for good in 2025, but will now restart in November 2026 after necessary work and will continue operating for 10 years. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for related plant profiles. (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).
TERMINALS
DOE Rejects Initial Bids to Restock SPR - The U.S. Department of Energy (DOE) has rejected the first batch of bids from oil companies to resupply a small amount of oil to the nation's emergency crude oil stockpile in February, according to a DOE spokesperson. The DOE last month had said it would purchase up to 3 million barrels for delivery to the Strategic Petroleum Reserve (SPR) in February. "Following review of the initial submission, DOE will not be making any award selections for the February delivery window," the spokesperson said in an emailed statement. (Reuters)
PRODUCTION
Norway's Oil Output Expected to Jump - Norway's oil output is expected to rise by 6.9% this year as the huge Johan Sverdrup field ramps up production while gas volumes are predicted to remain unchanged near record highs, the Norwegian Petroleum Directorate (NPD) said on Monday. Production of crude oil and other petroleum liquids such as condensate is likely to increase to 2.02 million barrels per day (BBL/d) in 2023 from 1.89 million BBL/d last year, NPD's forecasts show. (Reuters)
POWER
Belgium Extends Life of Two Nuclear Reactors - Belgium has reached an agreement with French utility Engie (La Defense) to extend the life of two nuclear reactors by 10 years, the prime minister said on Monday, overturning a plan to exit nuclear power in 2025 as the war in Ukraine has changed energy strategy. The Doel 4 and Tihange 3 reactors--the newest of Belgium's seven reactors--were due to close for good in 2025, but will now restart in November 2026 after necessary work and will continue operating for 10 years. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for related plant profiles. (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).
