Released September 18, 2023 | SUGAR LAND
en
News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
U.S. Drillers Add Rigs - U.S. energy firms last week added the most oil and natural gas rigs in a week since November, with the count rising for a second week in a row, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count, an early indicator of future output, rose nine to 641 in the week ending September 15, its highest since mid-August. U.S. oil rigs rose by two, the most in a week since April, to 515, while gas rigs gained eight to 121. Drillers added seven rigs in Texas, the most in a week in the state since December 2022. (Reuters)
REFINING
China Oil Refinery Throughput Rises to Record in August - China's oil refinery throughput in August rose to a record, data showed on Friday, as processors in the world's second-largest crude oil consumer kept run rates high to meet summer travel demand and capitalize on strengthening export margins. Total refinery throughput was a record 15.23 million barrels per day (BBL/d) last month, data from the National Bureau of Statistics showed, up 19.6% from a year ago, the fastest annual growth since March 2021. (Reuters)
PIPELINES
Canada-Owned Trans Mountain Asks Regulator to Approve Oil Pipeline Tolls - Trans Mountain Corporation (Calgary, Alberta), the oil pipeline company owned by the Canadian government, asked a regulator on Thursday to approve the proposed tolls it wants to charge shippers, who have said they are too high. In a filing to the Canada Energy Regulator, Trans Mountain said the interim toll proposal would result in the pipeline operator absorbing two-thirds of the construction cost increases for its long-delayed expansion project, which would nearly triple the flow of crude oil from Alberta to Canada's Pacific Coast in British Columbia to 890,000 BBL/d and is due to start up early next year. Construction has been beset by delays and a nearly quadrupling of its costs. Trans Mountain wants to recoup some of those costs from shippers and set tolls based on a formula outlined in an earlier agreement. (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 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).
PRODUCTION
U.S. Drillers Add Rigs - U.S. energy firms last week added the most oil and natural gas rigs in a week since November, with the count rising for a second week in a row, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count, an early indicator of future output, rose nine to 641 in the week ending September 15, its highest since mid-August. U.S. oil rigs rose by two, the most in a week since April, to 515, while gas rigs gained eight to 121. Drillers added seven rigs in Texas, the most in a week in the state since December 2022. (Reuters)
REFINING
China Oil Refinery Throughput Rises to Record in August - China's oil refinery throughput in August rose to a record, data showed on Friday, as processors in the world's second-largest crude oil consumer kept run rates high to meet summer travel demand and capitalize on strengthening export margins. Total refinery throughput was a record 15.23 million barrels per day (BBL/d) last month, data from the National Bureau of Statistics showed, up 19.6% from a year ago, the fastest annual growth since March 2021. (Reuters)
PIPELINES
Canada-Owned Trans Mountain Asks Regulator to Approve Oil Pipeline Tolls - Trans Mountain Corporation (Calgary, Alberta), the oil pipeline company owned by the Canadian government, asked a regulator on Thursday to approve the proposed tolls it wants to charge shippers, who have said they are too high. In a filing to the Canada Energy Regulator, Trans Mountain said the interim toll proposal would result in the pipeline operator absorbing two-thirds of the construction cost increases for its long-delayed expansion project, which would nearly triple the flow of crude oil from Alberta to Canada's Pacific Coast in British Columbia to 890,000 BBL/d and is due to start up early next year. Construction has been beset by delays and a nearly quadrupling of its costs. Trans Mountain wants to recoup some of those costs from shippers and set tolls based on a formula outlined in an earlier agreement. (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 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).
