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Released February 09, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
POWER
U.S. Power Use to Rise in 2022 - U.S. power consumption will rise in 2022 and 2023 as the economy continues to recover, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will climb to 3,992 billion kilowatt-hours (kWh) in 2022 and 4,034 billion kWh in 2023 from 3,937 billion kWh in 2021. (Reuters)
LNG
Venture Global Gets Green Light on Fourth LNG Block at Louisiana Plant - U.S. liquefied natural gas (LNG) company Venture Global LNG (Arlington, Virginia) received permission on Tuesday from federal energy regulators to commission the fourth liquefaction block at the company's Calcasieu Pass LNG export plant in Louisiana. A tanker arrived on Monday near Calcasieu and could be the first vessel to pick up a cargo from the facility, according to data from Refinitiv. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the project report. (Reuters)
EARNINGS REPORTS
Cenovus Energy Loss Widens on Impairment - Canada's Cenovus Energy Incorporated (NYSE:CVE) (Calgary, Alberta) posted a quarterly loss on Tuesday primarily due to a non-cash impairment of C$1.9 billion (US$1.5 billion) in the U.S. manufacturing segment, sending its shares lower. The U.S. manufacturing business was hit by operational issues at two refineries, contributing to a net loss of C$408 million (US$321 million) for fourth-quarter 2021, compared with a loss of C$153 million (US$120.4 million) a year earlier. (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: Facebook - Twitter - LinkedIn.
POWER
U.S. Power Use to Rise in 2022 - U.S. power consumption will rise in 2022 and 2023 as the economy continues to recover, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will climb to 3,992 billion kilowatt-hours (kWh) in 2022 and 4,034 billion kWh in 2023 from 3,937 billion kWh in 2021. (Reuters)
LNG
Venture Global Gets Green Light on Fourth LNG Block at Louisiana Plant - U.S. liquefied natural gas (LNG) company Venture Global LNG (Arlington, Virginia) received permission on Tuesday from federal energy regulators to commission the fourth liquefaction block at the company's Calcasieu Pass LNG export plant in Louisiana. A tanker arrived on Monday near Calcasieu and could be the first vessel to pick up a cargo from the facility, according to data from Refinitiv. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the project report. (Reuters)
EARNINGS REPORTS
Cenovus Energy Loss Widens on Impairment - Canada's Cenovus Energy Incorporated (NYSE:CVE) (Calgary, Alberta) posted a quarterly loss on Tuesday primarily due to a non-cash impairment of C$1.9 billion (US$1.5 billion) in the U.S. manufacturing segment, sending its shares lower. The U.S. manufacturing business was hit by operational issues at two refineries, contributing to a net loss of C$408 million (US$321 million) for fourth-quarter 2021, compared with a loss of C$153 million (US$120.4 million) a year earlier. (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), 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: Facebook - Twitter - LinkedIn.
