Venture Global, Lower U.S. Oil Imports: 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
Trump Administration Approves Exports from Venture Global's CP2 LNG Plant in Louisiana - U.S. President Donald Trump's administration granted Venture Global LNG (NYSE:VG) (Arlington, Virginia) approval on Wednesday to export natural gas from a proposed Louisiana facility that had faced delays under former President Joe Biden. The Department of Energy said in a press release on Wednesday that it has authorized widespread exports from Venture Global's CP2 project in Cameron Parish. Despite securing the permit, the 20 million-metric-ton-per-annum CP2 project also remains subject to final approval from other federal regulators, and Venture Global is still in the process of making a final investment decision. In December, the Federal Energy Regulatory Commission pulled Venture Global LNG's authorization to construct the CP2 export facility, requiring an additional environmental review of air quality impact. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can learn more by viewing the related project reports. (Reuters)

CRUDE OIL
U.S. Crude Oil Imports from Canada Fall to Two-Year Low - U.S. crude oil imports from Canada fell to the lowest in two years as U.S. net crude oil imports also sank, after the Trump administration imposed tariffs on imported crude from its northern neighbor. Crude oil imports from Canada fell by 541,000 to 3.1 million barrels per day (BBL/d) in the week to March 14, the lowest since March 2023. Net U.S. crude imports fell by 1.44 million BBL/d to 741,000 BBL/d, the lowest since October 2023. (Reuters)

U.S. Oil Inventories Up, Fuels Down - U.S. crude oil inventories (excluding the Strategic Petroleum Reserve (SPR)) increased 1.745 million barrels in the week ending March 14, according to the U.S. Energy Information Administration (EIA). Gasoline inventories dropped 527,000 barrels, and distillates were down 2.812 million barrels week-on-week. SPR inventories rose another 300,000 barrels in the week. (IIR Energy)

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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).