Saudi Arabia to End Voluntary Cuts, LOOP Marine Terminal: 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.

LNG
LNG Tanker Delivers Cargo to U.S. - The Kinisis, a ship carrying liquefied natural gas (LNG) from Trinidad, arrived at Dominion Energy Incorporated's (NYSE:D) Cove Point LNG plant in Maryland on Saturday as some energy firms look to send cargoes to the U.S. with stockpiles in Europe filling fast. Another ship, Madrid Spirit, is moving across the Atlantic Ocean from Nigeria that may also drop its cargo in the U.S. With gas more expensive in the U.S. than Europe where stockpiles are expected to be full by the end of summer, buyers for U.S. LNG canceled dozens of cargoes for June and July, and analysts said it made sense for some energy firms to send LNG to the U.S. for storage. (Reuters)

TERMINALS
Louisiana Offshore Oil Port Halts Operations at Marine Terminal - The Louisiana Offshore Oil Port (LOOP), the largest privately owned crude terminal in the United States, said it has suspended operations at its Marine Terminal in the Gulf of Mexico due to Tropical Storm Cristobal. LOOP's Marine Terminal is located in the open waters of the Gulf of Mexico about 29 kilometers offshore. (Reuters)

PRODUCTION
Saudi Arabia to End Voluntary Production Cuts on Top of OPEC+ Pact - Saudi Arabia will boost output in July to match its output OPEC quota while ending deeper, voluntary cuts amid signs of global demand recovering, the Saudi energy minister said on Monday. OPEC, Russia and other producers agreed on Saturday to extend record output cuts of 9.7 million barrels per day (BBL/d) into July, curbing global supply by almost 10%. For June, the kingdom is curbing production by an additional 1 BBL/d above its OPEC+ pledge. (Reuters)

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About Industrial Info
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