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Released May 14, 2021 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
PRODUCTION
EIA: U.S. Crude Oil Output to Decline More than Previously Forecast - U.S. crude oil production is expected to fall by 290,000 barrels per day (bpd) in 2021 to 11.02 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, a steeper decline than its previous forecast for a drop of 270,000 bpd. (Reuters)
LNG
Pieridae Moves Closer to Decision on Nova Scotia LNG Export Plant - Canadian energy company Pieridae Energy Limited (TSX:PEA) (Calgary, Alberta) said on Thursday it still expects to make a final investment decision by June 30 on its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia. That would allow the $10 billion project to produce its first LNG in 2025-2026. (Projects 300124802, 300124807) (Reuters)
CRUDE OIL
Oil Drops 3% on India's COVID-19 Crisis, Fuel Pipeline Restart - Oil prices fell about 3% on Thursday as India's coronavirus crisis deepened and a key U.S. fuel pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after forecasts for a rebound in global demand later in the year. Brent crude ended the session down $2.27, or 3.3%, at $67.05 a barrel, after rising 1% on Wednesday. West Texas Intermediate (WTI) settled$2.26, or 3.4%, lower at $63.82 a barrel, having risen 1.2% in the previous session. (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), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
PRODUCTION
EIA: U.S. Crude Oil Output to Decline More than Previously Forecast - U.S. crude oil production is expected to fall by 290,000 barrels per day (bpd) in 2021 to 11.02 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, a steeper decline than its previous forecast for a drop of 270,000 bpd. (Reuters)
LNG
Pieridae Moves Closer to Decision on Nova Scotia LNG Export Plant - Canadian energy company Pieridae Energy Limited (TSX:PEA) (Calgary, Alberta) said on Thursday it still expects to make a final investment decision by June 30 on its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia. That would allow the $10 billion project to produce its first LNG in 2025-2026. (Projects 300124802, 300124807) (Reuters)
CRUDE OIL
Oil Drops 3% on India's COVID-19 Crisis, Fuel Pipeline Restart - Oil prices fell about 3% on Thursday as India's coronavirus crisis deepened and a key U.S. fuel pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after forecasts for a rebound in global demand later in the year. Brent crude ended the session down $2.27, or 3.3%, at $67.05 a barrel, after rising 1% on Wednesday. West Texas Intermediate (WTI) settled$2.26, or 3.4%, lower at $63.82 a barrel, having risen 1.2% in the previous session. (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), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
