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Energy Market highlights gathered by Industrial Info and IIR Energy
PRODUCTION
U.S. Rig Count Falls - U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fourth time in five weeks even as oil prices remain relatively high. The U.S. oil and gas rig count fell by five to 760 in the week ending September 2, energy services firm Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs fell by nine, the most since September last year, to 596. However, gas rigs rose four to 162, the highest since August 2019. (Reuters)
TERMINALS
U.S. EPA Denies Permit for Phillips 66 Offshore Terminal - The U.S. Environmental Protection Agency (EPA) has denied a permit for an offshore oil terminal jointly developed by Phillips 66 (NYSE:PSX) (Houston, Texas) and global commodities trader Trafigura (Singapore) after several environmental groups flagged pollution risks. The Bluewater Texas Terminal, to be located on the Gulf Coast near Corpus Christi, had applied for a Clean Air Act permit in 2019, following which the EPA released a pollution control permit that allowed it to emit almost 19,000 tons of pollutants per year. This invited calls from environmental groups, which urged the agency to amend the permit to include reduction of Bluewater's pollutants by at least 95%. The EPA rejected the permit on Thursday. The company has been directed to withdraw its permit no later than September 15 and submit a new proposal that would meet the requirements. Subscribers to Industrial Info's Global Market Intelligence (GMI) Terminals Project Database can click here for the project report. (Reuters)
PIPELINES
Russia Scraps Nord Stream 1 Planned Reopening - Russia scrapped a Saturday deadline to resume flows via a major gas supply route to Germany, deepening Europe's difficulties in securing winter fuel, after saying it had found faults in the Nord Stream 1 pipeline during maintenance. Nord Stream 1, which runs under the Baltic Sea, had been due to resume operating early Saturday after a three-day halt for maintenance. But Gazprom (Moscow, Russia), the state-controlled firm with a monopoly on Russian gas exports via pipeline, said on Friday it could not safely restart deliveries until it had fixed an oil leak found in a vital turbine. It did not give a new time frame. (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).
PRODUCTION
U.S. Rig Count Falls - U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fourth time in five weeks even as oil prices remain relatively high. The U.S. oil and gas rig count fell by five to 760 in the week ending September 2, energy services firm Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs fell by nine, the most since September last year, to 596. However, gas rigs rose four to 162, the highest since August 2019. (Reuters)
TERMINALS
U.S. EPA Denies Permit for Phillips 66 Offshore Terminal - The U.S. Environmental Protection Agency (EPA) has denied a permit for an offshore oil terminal jointly developed by Phillips 66 (NYSE:PSX) (Houston, Texas) and global commodities trader Trafigura (Singapore) after several environmental groups flagged pollution risks. The Bluewater Texas Terminal, to be located on the Gulf Coast near Corpus Christi, had applied for a Clean Air Act permit in 2019, following which the EPA released a pollution control permit that allowed it to emit almost 19,000 tons of pollutants per year. This invited calls from environmental groups, which urged the agency to amend the permit to include reduction of Bluewater's pollutants by at least 95%. The EPA rejected the permit on Thursday. The company has been directed to withdraw its permit no later than September 15 and submit a new proposal that would meet the requirements. Subscribers to Industrial Info's Global Market Intelligence (GMI) Terminals Project Database can click here for the project report. (Reuters)
PIPELINES
Russia Scraps Nord Stream 1 Planned Reopening - Russia scrapped a Saturday deadline to resume flows via a major gas supply route to Germany, deepening Europe's difficulties in securing winter fuel, after saying it had found faults in the Nord Stream 1 pipeline during maintenance. Nord Stream 1, which runs under the Baltic Sea, had been due to resume operating early Saturday after a three-day halt for maintenance. But Gazprom (Moscow, Russia), the state-controlled firm with a monopoly on Russian gas exports via pipeline, said on Friday it could not safely restart deliveries until it had fixed an oil leak found in a vital turbine. It did not give a new time frame. (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).
