U.S. Gas-Fired Generation, Increased Global Flaring: 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.

POWER
Gas-Fired Power Generation Cranks Up in U.S. with Hotter Temperatures - Natural gas-fired power generation in the United States has climbed nearly 6% through June 17 from the same period a year ago, as above-normal temperatures lifted use of power-hungry air conditioners. U.S. power generation from natural gas from January 1 through June 17 was slightly more than 30 million megawatt-hours (MWh), according to data compiled by LSEG. That total compares to 28.4 million MWh during the same period in 2023. (Reuters)

PRODUCTION
Oil Drillers Increase Gas Flaring - Oil companies around the world last year burned off the most natural gas in five years while also increasing the intensity of the practice, a World Bank report found on Thursday. With only six years left to meet a World Bank goal of stopping routine flaring, the companies burned off an estimated 148 billion cubic meters of gas in 2023, up 7% from 2022 even as crude oil production rose only 1% over the same time. The growth in flaring more than reversed reductions made in 2021 and 2022, the report from the World Bank's Global Gas Flaring Tracker said, adding that "global efforts to reduce gas flaring have not been sustainable and urgent action is needed." (Reuters)

REFINING
Mexico's New Refinery to Begin Processing Crude Oil in Second Half of Year - Mexico's state energy company Pemex (Mexico City) will start processing crude oil in its new Olmeca refinery in the port of Dos Bocas in the second half of the year, Pemex Chief Executive Officer Octavio Romero said on Thursday. At the end of the year, Romero added, Pemex would process 1.44 million barrels per day (BBL/d) at its domestic refineries, including 163,000 BBL/d in the new Olmeca refinery in Tabasco state. The start date of the refinery, which was supposed to be finished in 2022 after three years of construction, has been pushed back many times. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (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).