U.S. Rig Count, Canada Pipeline Flows: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

PIPELINES
Minister: Canada Looking to Increase Oil Pipeline Flows - Canada is studying ways to increase pipeline utilization to boost crude oil exports as Europe seeks to reduce its dependence on Russian oil, the country's natural resources minister said on Thursday. Pipeline operator Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) said in a statement it was in talks with the government "about how the industry can help relieve the current energy crisis." (Reuters)

PRODUCTION
U.S. Drillers Add Rigs - The U.S. oil and gas rig count rose 13 to 663 in the week ending March 11, its highest since April 2020, energy services firm Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs rose eight to 527, their highest since April 2020, while gas rigs gained five to 135, their highest since October 2019. (Reuters)

Venezuela Could Add 400,000 Barrels per Day to Oil Output - Venezuela's oil output could rise by at least 400,000 barrels per day (BBL/d) if the U.S. authorizes requests by state-run PDVSA's partners to trade Venezuelan crude oil, the country's Petroleum Chamber said on Friday. The increase would allow the OPEC member's oil production, which in January averaged 755,000 BBL/d according to official figures, to approach some 1.2 million BBL/d, said the president of Venezuela's Petroleum Chamber, Reinaldo Quintero. (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 LinkedIn.