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Released January 31, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PIPELINES
Trans Mountain Pipeline Expansion Faces More Delays - Canada's Trans Mountain Corporation (Calgary, Alberta) said on Monday that it had run into technical issues and faces new delays as it tries to complete the final part of expanding its oil export pipeline. The company, which is owned by the Canadian government, said it would take additional time to determine the next steps to minimize delays and is aiming to put the expanded pipeline into service in the second quarter of this year. The main challenge remaining for the expansion project is the installation of a section of pipeline through a mountain in British Columbia, which the company had said it expected to complete early this week. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related reports. (Reuters)
CORPORATE
Enbridge to Cut 650 Jobs - Pipeline operator Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) said on Tuesday it will reduce its workforce by 650 jobs, or 5%, in a bid to cut costs. Enbridge employs 12,000 people, according to its website. The company said the cuts will begin in February and be completed by March 1. It will reduce vacant positions, contract positions and redeploy staff where possible, Enbridge said. (Reuters)
PRODUCTION
Saudi Arabia Orders Aramco to Lower Oil Capacity Target - Saudi Arabia's government on Tuesday ordered state oil company Aramco (Dhahran, Saudi Arabia) to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels per day (BBL/d), which is 1 million BBL/d below a target announced in 2020. (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).
PIPELINES
Trans Mountain Pipeline Expansion Faces More Delays - Canada's Trans Mountain Corporation (Calgary, Alberta) said on Monday that it had run into technical issues and faces new delays as it tries to complete the final part of expanding its oil export pipeline. The company, which is owned by the Canadian government, said it would take additional time to determine the next steps to minimize delays and is aiming to put the expanded pipeline into service in the second quarter of this year. The main challenge remaining for the expansion project is the installation of a section of pipeline through a mountain in British Columbia, which the company had said it expected to complete early this week. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related reports. (Reuters)
CORPORATE
Enbridge to Cut 650 Jobs - Pipeline operator Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) said on Tuesday it will reduce its workforce by 650 jobs, or 5%, in a bid to cut costs. Enbridge employs 12,000 people, according to its website. The company said the cuts will begin in February and be completed by March 1. It will reduce vacant positions, contract positions and redeploy staff where possible, Enbridge said. (Reuters)
PRODUCTION
Saudi Arabia Orders Aramco to Lower Oil Capacity Target - Saudi Arabia's government on Tuesday ordered state oil company Aramco (Dhahran, Saudi Arabia) to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels per day (BBL/d), which is 1 million BBL/d below a target announced in 2020. (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).
