Suncor, Kinder Morgan: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

POWER
New Jersey Moves 100% Clean Power Target Up to 2035 - New Jersey Governor Phil Murphy on Wednesday signed executive orders aimed at accelerating the state's move to clean energy by 15 years, including electrifying buildings and transportation and planning for changes to natural gas-burning utilities. Under the orders, New Jersey will move up its target of requiring 100% of electricity sold in the state to come from clean energy sources to 2035, Murphy's office said in a release. (Reuters)

EARNINGS REPORTS
Suncor Boosts Quarterly Profit - Canadian oil sands producer Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) reported net earnings of C$2.74 billion (US$2.05 billion), compared with C$1.55 billion (US$1.16 billion) in the corresponding quarter of last year. Production from the company's oil sands assets was 688,100 barrels per day (BBL/d) in the fourth quarter of 2022, compared to 665,900 BBL/d in the prior-year quarter. (Suncor)

ENVIRONMENT
U.S. EPA Sets Soot Pollution, Energy Companies Warn of Costs - The U.S. Environmental Protection Agency (EPA) said on Tuesday it sent the White House its final plan to slash interstate smog and soot pollution from the power sector, but big energy companies warned that the measure on track to be finalized next month would cost them billions of dollars. The plan, first proposed last year by the EPA, would require the power industry to slash nitrogen oxides, or NOx, pollution to curb a decades-old problem of power plant emissions fouling the air in other states. The EPA told Reuters the White House's Office of Management and Budget accepted the agency's proposal for review on February 9 and that the final rule was expected in March 2023.

Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas) warned the plan would cost an estimated $4.1 billion in upgrades and retrofits to about 950 engines along its pipelines, which carry about 40% of the natural gas consumed in the U.S. Kinder Morgan and other companies also opposed the EPA's 2026 deadline to get upgrades completed. "It would likely take at least until 2045 to implement the (EPA's proposal) across all of the engines that currently exceed the proposed emissions limits," it said. (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).