U.S. Rig Count, Citgo: 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.

PRODUCTION
U.S. Drillers Add Rigs - U.S. energy firms last week added to the total oil and natural gas rig count for the third time in four weeks, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count rose by two to 588 in the week ended August 9. Baker Hughes said oil rigs rose by three to 485 last week, while gas rigs fell by one to 97. (Reuters)

LNG
Asia LNG Spot Prices at Seven-Month High - Asian spot liquefied natural gas (LNG) prices remained at their highest level in more than seven months on Friday, tracking European gains amid concerns over supply disruption. The average LNG price for September delivery into northeast Asia was at $12.90 per million British thermal units (mmBtu), industry sources estimated. This is the highest level since mid-December and up from $12.80/mmBtu the week before. (Reuters)

EARNINGS REPORTS
Citgo Reports Quarterly Loss - Citgo Petroleum (Houston, Texas) on Thursday reported a net loss of $25 million in the second quarter following unfavorable market conditions and refinery maintenance and upgrades, compared with income of $410 million in the quarter immediately prior. Citgo's crude oil processing fell to 678,000 barrels per day (BBL/d) with an average crude utilization of 84% due to turnaround and maintenance activities, compared with crude runs of 769,000 BBL/d and utilization of 95% in the previous quarter. (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).