Released October 16, 2019 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
U.S. Oil Production from Shale Plays Expected to Reach Record in November - U.S. oil output from seven major shale formations is expected to rise 58,000 barrels per day (BBL/d) in November to a record 8.971 million BBL/d, the U.S. Energy Information Administration said in a monthly forecast on Tuesday. The largest formation, the Permian Basin of Texas and New Mexico, is expected to add 63,000 BBL/d to 4.547 million BBL/d. (Reuters)
Occidental Boosts Third-Quarter Production Estimates - Oil and gas producer Occidental Petroleum (NYSE:OXY) nudged its estimate for third-quarter production higher on Tuesday, helped by fewer shutdowns in Colorado's DJ basin and strong performance in its Permian Resources unit. Occidental now expects production from continuing operations to be 1.1 million to 1.12 million barrels of oil equivalent per day. (Reuters)
NATURAL GAS
Sinopec Official: China's Gas Demand Growth to Slow to 10% This Year - China's natural gas demand is expected to reach 307 billion cubic meters (Bcm) this year, an increase of just 10% from 2018, an official of state-run Sinopec Gas Company said on Tuesday, as a slowing economy hits consumption. China is the world's second-largest importer of liquefied natural gas (LNG) after Japan, producing 160.2 Bcm of gas last year and importing 124.8 Bcm, of which 74.3 Bcm was LNG. (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 trading, logistics and marketing communities. We are the number one source for information about electricity 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.
PRODUCTION
U.S. Oil Production from Shale Plays Expected to Reach Record in November - U.S. oil output from seven major shale formations is expected to rise 58,000 barrels per day (BBL/d) in November to a record 8.971 million BBL/d, the U.S. Energy Information Administration said in a monthly forecast on Tuesday. The largest formation, the Permian Basin of Texas and New Mexico, is expected to add 63,000 BBL/d to 4.547 million BBL/d. (Reuters)
Occidental Boosts Third-Quarter Production Estimates - Oil and gas producer Occidental Petroleum (NYSE:OXY) nudged its estimate for third-quarter production higher on Tuesday, helped by fewer shutdowns in Colorado's DJ basin and strong performance in its Permian Resources unit. Occidental now expects production from continuing operations to be 1.1 million to 1.12 million barrels of oil equivalent per day. (Reuters)
NATURAL GAS
Sinopec Official: China's Gas Demand Growth to Slow to 10% This Year - China's natural gas demand is expected to reach 307 billion cubic meters (Bcm) this year, an increase of just 10% from 2018, an official of state-run Sinopec Gas Company said on Tuesday, as a slowing economy hits consumption. China is the world's second-largest importer of liquefied natural gas (LNG) after Japan, producing 160.2 Bcm of gas last year and importing 124.8 Bcm, of which 74.3 Bcm was LNG. (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 trading, logistics and marketing communities. We are the number one source for information about electricity 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.
