Released July 28, 2021 | SUGAR LAND
en
Energy Market highlights gathered by Industrial Info and IIR Energy
EARNINGS
Pioneer Natural Resources Warns of $832 Million Loss on Hedges - Independent shale producer Pioneer Natural Resources (NYSE:PXD) (Irving, Texas) on Tuesday warned it would be hit by an $832 million second-quarter loss on oil and gas derivatives, according to a regulatory filing. Many producers locked in sales when oil prices rose above $40 a barrel last year, but are now facing losses as crude oil has jumped to above $60 a barrel during the quarter. (Reuters)
CRUDE OIL
Mexican Fuel Cargo for Cuba is Sovereign Decision, President Says - Mexico's president on Tuesday asserted his country's right to send fuel to Cuba and said U.S. sanctions on the island were "inhumane," after a diesel cargo shipped by Mexico's state-run oil company Petroleos Mexicanos arrived in Cuba's Havana port. "We are an independent nation," President Andres Manuel Lopez Obrador said at a news conference in response to a question about whether fuel deliveries risked contravening the U.S. embargo on the Communist-run island. (Reuters)
CORPORATE
Shell to Expand U.S. Renewable Energy Footprint Through Acquisition - Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc (NYSE:RDS-A) (The Hague, Netherlands), has signed an agreement to buy 100% of the equity interests of Inspire Energy Capital LLC, a renewable energy residential retailer with joint headquarters in Santa Monica, California, and Philadelphia, Pennsylvania. The acquisition advances Shell's strategy to build and scale renewable and low-carbon businesses with a target to become a net-zero emissions energy business by 2050. The deal is expected to be completed by fourth-quarter 2021. (PR Newswire)
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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.
EARNINGS
Pioneer Natural Resources Warns of $832 Million Loss on Hedges - Independent shale producer Pioneer Natural Resources (NYSE:PXD) (Irving, Texas) on Tuesday warned it would be hit by an $832 million second-quarter loss on oil and gas derivatives, according to a regulatory filing. Many producers locked in sales when oil prices rose above $40 a barrel last year, but are now facing losses as crude oil has jumped to above $60 a barrel during the quarter. (Reuters)
CRUDE OIL
Mexican Fuel Cargo for Cuba is Sovereign Decision, President Says - Mexico's president on Tuesday asserted his country's right to send fuel to Cuba and said U.S. sanctions on the island were "inhumane," after a diesel cargo shipped by Mexico's state-run oil company Petroleos Mexicanos arrived in Cuba's Havana port. "We are an independent nation," President Andres Manuel Lopez Obrador said at a news conference in response to a question about whether fuel deliveries risked contravening the U.S. embargo on the Communist-run island. (Reuters)
CORPORATE
Shell to Expand U.S. Renewable Energy Footprint Through Acquisition - Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc (NYSE:RDS-A) (The Hague, Netherlands), has signed an agreement to buy 100% of the equity interests of Inspire Energy Capital LLC, a renewable energy residential retailer with joint headquarters in Santa Monica, California, and Philadelphia, Pennsylvania. The acquisition advances Shell's strategy to build and scale renewable and low-carbon businesses with a target to become a net-zero emissions energy business by 2050. The deal is expected to be completed by fourth-quarter 2021. (PR Newswire)
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.
