U.S. Crude Oil Stocks, China LNG Imports: 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.

CRUDE OIL
U.S. Crude Oil, Fuel Inventories Fall - U.S. crude oil, gasoline and distillate inventories fell last week as both refining activity and fuel demand rose, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude oil inventories dropped by 2.5 million barrels to 457 million barrels in the week ending May 10, the EIA said. The draw came as refinery crude runs rose by 307,000 barrels per day. Gasoline stocks fell by 235,000 barrels in the week to 227.8 million barrels. Distillate stockpiles fell by 45,000 barrels in the week to 116.4 million barrels, said the EIA. (Reuters)

LNG
PetroChina Official: Chinese LNG Imports Could Rise to Record This Year- China's liquefied natural gas (LNG) imports could hit record levels in 2024, a PetroChina (Beijing, China) official forecast on Wednesday. The world's top importer of the super-chilled fuel is seen shipping between 78 million and 80 million metric tons of LNG this year, with the industrial and commercial sectors driving demand, Zhang Yaoyu, global head of LNG and new energies for PetroChina International, said at an industry conference in Bangkok. Zhang's forecast would be a 9-12% rise from the 71.2 million metric tons imported in 2023, according to China's customs data. (Reuters)

ENVIRONMENTAL
Italy's Eni Says Upstream Emissions Down 40% - Eni (NYSE:E) (Rome, Italy) reduced net carbon emissions in the upstream sector by 40% and overall emissions by 30% last year compared with the levels of 2018, the energy company said on Wednesday as it published its sustainability report. The group has recently given particular attention to reducing the emissions of methane, which decreased by more than 20% by 2023 for the upstream business, it added. (Reuters)

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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).