U.S. Crude Oil Production, Energy Transfer: 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.

PRODUCTION
EIA: U.S. Oil Output to Reach Record in 2024, but Growth Rate Will Slow - U.S. crude oil production will hit records over the next two years but grow at a slower rate, the U.S. Energy Information Administration (EIA) said on Tuesday, as efficiency gains offset a decline in rig activity. U.S. crude production will rise by 290,000 barrels per day (BBL/d) to a record 13.21 million BBL/d this year, the EIA said in its Short-Term Energy Outlook. (Reuters)

POWER
Wind Overtakes Coal for Electricity Generation in Europe - Europe's power producers generated more electricity from wind than from coal for the first time in the last quarter of 2023, marking a key milestone for regional energy transition efforts. Europe's utilities generated a record 193 terawatt-hours (TWh) of electricity from wind sites in the October-through-December window in 2023, compared with 184 TWh from coal-fired power plants, data from think tank Ember shows. (Reuters)

LNG
Japan's Kuyushu Electric May Invest in Lake Charles LNG Project - Kyushu Electric Power (Fukuoka, Japan) is considering investing in the U.S. Lake Charles liquefied natural gas (LNG) project of Energy Transfer LP (NYSE:ET) (Dallas, Texas), among other projects, to secure a stable supply of the fuel, a company spokesperson said on Tuesday. The comment partially confirms a Sunday report by the Nikkei business daily that Kyushu Electric may buy a stake of about 10% in the Lake Charles project and sign a 20-year contract, importing about 1.6 million metric tons a year on behalf of other Japanese utilities. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for related project reports. (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).