TC Energy, Venezuela Petroleum Exports: 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.

CORPORATE
TC Energy Oil Pipeline Spinoff South Bow Begins Trading on TSX - TC Energy Corporation's (NYSE:TRP) (Calgary, Alberta) liquids pipeline spinoff, South Bow Corporation (TSX:SOBO) edged lower on its first day of trading on the Toronto Stock Exchange (TSX) on Wednesday, tracking a broader weakness in Canadian energy stocks. South Bow's main asset is the 622,000-barrel-per-day Keystone pipeline, which ships Canadian crude oil from Alberta to the U.S. Midwest and Gulf Coast. In total, the company operates 3,045 miles of oil pipeline infrastructure and ships about 20% of Canadian crude oil exports to the U.S. The company is expected to begin trading on the New York Stock Exchange next week. (Reuters)

CRUDE OIL
Venezuela's September Oil & Fuel Exports Down 9% - Venezuela's exports of crude oil and fuel declined almost 9% last month following two large power blackouts and equipment outages at state energy company PDVSA's (Caracas) crude upgraders, according to ship monitoring data and documents. A large power blackout in most of the country's territory in late August forced suspension of refineries, oil terminals and the four crude upgraders that process the Orinoco Belt's extra heavy oil through early September. A second interruption days later and equipment malfunctions disabled three upgraders again for several days, the documents showed. A total of 42 vessels departed Venezuelan waters in September, carrying an average of 842,600 barrels per day (BBL/d) of crude oil and fuel and 267,000 metric tons of oil byproducts and petrochemicals, according to the data. PDVSA and its joint ventures exported 925,000 BBL/d of crude and fuel in August, the highest monthly figure since early 2020. (Reuters)

GOVERNMENT
Industry Minister: Japan to Keep Nuclear, Boost Renewables in Energy Mix - Japan plans to continue safely restarting nuclear power plants and will use as much renewable energy as possible, new Industry Minister Yoji Muto said on Wednesday, indicating no major shift in policy under recently appointed Prime Minister Shigeru Ishiba. Before he won the leadership race of the ruling Liberal Democratic Party, Ishiba, who was sworn in on Tuesday, had pledged to do his utmost to cut out nuclear power. But shortly before becoming party leader, and by default prime minister, Ishiba stopped advocating for zero nuclear power, instead calling for the use of more renewable energy, including hydropower, and for more energy conservation. "We can use renewable power to the maximum, and we will restart nuclear power, the safe one, as much as possible," Muto told reporters at his first media event as the minister for economy, trade and industry. (Reuters)

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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).