Released April 14, 2023 | SUGAR LAND
en
Energy Market highlights gathered by Industrial Info and IIR Energy
PRODUCTION
Guyana Delays Oil Blocks Auction Until July - Guyana's closely watched auction of 14 offshore oil blocks faces a delay with the South American country pushing back the deadline for oil explorers to submit bids to mid-July. The three-month delay is in response to industry feedback and the need for modernizing the country's oil and gas regulatory framework, which is expected to guide development of the blocks, Guyana's Ministry of Natural Resources said in a statement. (Reuters)
NATURAL GAS
U.S. Natural Gas Slips 4% - U.S. natural gas futures retreated more than 4% on Thursday on forecasts for less demand for the fuel next week, while a U.S. government report showed a near-normal injection into stockpiles. The U.S. Energy Information Administration (EIA) on Thursday said utilities put a near-normal 25 billion cubic feet (Bcf) of gas into storage last week. That compares with an 8-Bcf injection during the same week a year ago and a five-year (2018-2022) average rise of 28 Bcf. Front-month gas futures for May delivery on the New York Mercantile Exchange fell 8.6 cents, or 4.1%, to settle at $2.007 per million British thermal units. (Reuters)
CRUDE OIL
China's March Crude Oil Imports Surge - China's crude oil imports in March surged 22.5% from a year earlier to the highest since June 2020, data showed on Thursday, as refiners stepped up runs to capture fuel export demand and in anticipation of a domestic economic recovery. Crude imports in March totalled 12.3 million barrels per day (BBL/d), according to data from the General Administration of Customs. This compares with 10.1 million BBL/d of crude oil imported in March last year. (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).
PRODUCTION
Guyana Delays Oil Blocks Auction Until July - Guyana's closely watched auction of 14 offshore oil blocks faces a delay with the South American country pushing back the deadline for oil explorers to submit bids to mid-July. The three-month delay is in response to industry feedback and the need for modernizing the country's oil and gas regulatory framework, which is expected to guide development of the blocks, Guyana's Ministry of Natural Resources said in a statement. (Reuters)
NATURAL GAS
U.S. Natural Gas Slips 4% - U.S. natural gas futures retreated more than 4% on Thursday on forecasts for less demand for the fuel next week, while a U.S. government report showed a near-normal injection into stockpiles. The U.S. Energy Information Administration (EIA) on Thursday said utilities put a near-normal 25 billion cubic feet (Bcf) of gas into storage last week. That compares with an 8-Bcf injection during the same week a year ago and a five-year (2018-2022) average rise of 28 Bcf. Front-month gas futures for May delivery on the New York Mercantile Exchange fell 8.6 cents, or 4.1%, to settle at $2.007 per million British thermal units. (Reuters)
CRUDE OIL
China's March Crude Oil Imports Surge - China's crude oil imports in March surged 22.5% from a year earlier to the highest since June 2020, data showed on Thursday, as refiners stepped up runs to capture fuel export demand and in anticipation of a domestic economic recovery. Crude imports in March totalled 12.3 million barrels per day (BBL/d), according to data from the General Administration of Customs. This compares with 10.1 million BBL/d of crude oil imported in March last year. (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).
