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Released May 11, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
LNG
Venture Global to Supply LNG to ExxonMobil Unit - Venture Global LNG (Arlington, Virginia) said on Tuesday it would supply 2 million metric tons of liquefied natural gas (LNG) per year to the Asia-Pacific unit of Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas). Under the deal, the ExxonMobil unit will purchase 1 million metric tons of LNG each year from both Venture Global's Plaquemines LNG facility and the CP2 LNG facility. Both the operations are in Louisiana. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for related project reports. (Reuters)
CORPORATE
Talen Energy Unit Files for Bankruptcy - Talen Energy Supply, a unit of Talen Energy Corporation (The Woodlands, Texas) that holds several of its power plants, has filed for bankruptcy after rising natural gas prices squeezed its cash position. The company, which runs 18 power generation facilities, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas on Monday night, according to court papers. It aims to substantially reduce its $4.5 billion debt load and bring in $1.65 billion in new equity from certain bondholders, the documents show. (Reuters)
PRODUCTION
EIA: U.S. Crude Oil Output to Rise 720,000 BBL/d in 2022 - U.S. crude oil output is expected to rise 720,000 barrels per day (BBL/d) to 11.91 million BBL/d in 2022, the government said in a monthly forecast on Tuesday. U.S. crude output is expected to rise 940,000 BBL/d to 12.85 million BBL/d in 2023, according to the same monthly report from the U.S. Energy Information Administration (EIA). (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 world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
LNG
Venture Global to Supply LNG to ExxonMobil Unit - Venture Global LNG (Arlington, Virginia) said on Tuesday it would supply 2 million metric tons of liquefied natural gas (LNG) per year to the Asia-Pacific unit of Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas). Under the deal, the ExxonMobil unit will purchase 1 million metric tons of LNG each year from both Venture Global's Plaquemines LNG facility and the CP2 LNG facility. Both the operations are in Louisiana. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for related project reports. (Reuters)
CORPORATE
Talen Energy Unit Files for Bankruptcy - Talen Energy Supply, a unit of Talen Energy Corporation (The Woodlands, Texas) that holds several of its power plants, has filed for bankruptcy after rising natural gas prices squeezed its cash position. The company, which runs 18 power generation facilities, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas on Monday night, according to court papers. It aims to substantially reduce its $4.5 billion debt load and bring in $1.65 billion in new equity from certain bondholders, the documents show. (Reuters)
PRODUCTION
EIA: U.S. Crude Oil Output to Rise 720,000 BBL/d in 2022 - U.S. crude oil output is expected to rise 720,000 barrels per day (BBL/d) to 11.91 million BBL/d in 2022, the government said in a monthly forecast on Tuesday. U.S. crude output is expected to rise 940,000 BBL/d to 12.85 million BBL/d in 2023, according to the same monthly report from the U.S. Energy Information Administration (EIA). (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) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
