Venture Global LNG, Low Asian Refining Margins: 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.

LNG
Regulators Give Green Light to First Step of Louisiana LNG Plant Startup - Federal regulators on Friday gave Venture Global LNG (Arlington, Virginia) permission to begin preparations for the startup of liquefied natural gas (LNG) equipment at its Plaquemines export plant in Louisiana, taking a step closer to first LNG production for the facility. A tanker containing LNG has been docked at Plaquemines with a cargo of chilled gas since late August, according to Venture Global LNG and data from financial firm LSEG. The cargo is expected to be used to cool equipment for initial operations. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Reuters)

REFINING
Asia Refining Margins at Lowest Seasonal Level Since 2020 - Asian refiners' margins slumped to their lowest seasonal levels since 2020 last week as supplies of diesel and gasoline rose after peak summer travel demand ended, industry officials and analysts said on Friday. Complex refining margins in Singapore, the regional bellwether, slumped to $1.62 a barrel this week, LSEG data showed, with the average in the first week of September down 68% from the same period last month. Margins are at the lowest seasonal level since 2020, slipping into a trough earlier than usual, as U.S. summer gasoline consumption disappointed while China's economic slowdown dampened demand. (Reuters)

CRUDE OIL
Iraq Cuts Crude Oil Export Volumes - Iraq cut its oil exports to 3.3 million barrels per day as of August 27 and will keep this reduction during the upcoming months in line with the country's commitment to the OPEC+ agreement, the Iraqi oil ministry said on Thursday. OPEC+ is made up of the Organization of the Petroleum Exporting Countries and allies led by Russia. (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).