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Released April 16, 2021 | 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
Canadian Crude Oil Imports Fell 20% in 2020 - Imports of crude oil into Canada dropped 20% year-on-year in 2020 due to weak demand as a result of the COVID-19 pandemic, the Canada Energy Regulator said in an analysis released Wednesday. Canada imported 555,000 barrels per day (BBL/d) last year, the lowest level in at least 10 years, down from 693,000 BBL/d in 2019 and more than 800,000 BBL/d in 2010. (Reuters)
LNG
Pieridae Energy Plans Final Investment Decision for Nova Scotia LNG Project by Late June - Canadian energy company Pieridae Energy Limited (TSX:PEA) said on Thursday it continues to work toward making a final investment decision by June 30 to build its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia. That would allow the $10 billion project to produce first LNG in 2025-2026. (Projects 300124802, 300124807) (Reuters)
CORPORATE
Law Firm: North American Oil Bankruptcies Hit Highest Q1 Levels Since 2016 - Bankruptcies by North American oil producers rose to the highest first-quarter level since 2016, according to a report released on Thursday by law firm Haynes and Boone, as some energy firms struggled to recover from the 2020 crash in oil prices. There were eight bankruptcies by North American oil and gas producers in the first quarter of 2021, versus 17 in the first quarter of 2016 - the last time U.S. crude futures dipped under $30 a barrel. (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), 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.
CRUDE OIL
Canadian Crude Oil Imports Fell 20% in 2020 - Imports of crude oil into Canada dropped 20% year-on-year in 2020 due to weak demand as a result of the COVID-19 pandemic, the Canada Energy Regulator said in an analysis released Wednesday. Canada imported 555,000 barrels per day (BBL/d) last year, the lowest level in at least 10 years, down from 693,000 BBL/d in 2019 and more than 800,000 BBL/d in 2010. (Reuters)
LNG
Pieridae Energy Plans Final Investment Decision for Nova Scotia LNG Project by Late June - Canadian energy company Pieridae Energy Limited (TSX:PEA) said on Thursday it continues to work toward making a final investment decision by June 30 to build its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia. That would allow the $10 billion project to produce first LNG in 2025-2026. (Projects 300124802, 300124807) (Reuters)
CORPORATE
Law Firm: North American Oil Bankruptcies Hit Highest Q1 Levels Since 2016 - Bankruptcies by North American oil producers rose to the highest first-quarter level since 2016, according to a report released on Thursday by law firm Haynes and Boone, as some energy firms struggled to recover from the 2020 crash in oil prices. There were eight bankruptcies by North American oil and gas producers in the first quarter of 2021, versus 17 in the first quarter of 2016 - the last time U.S. crude futures dipped under $30 a barrel. (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), 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.
