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Released March 21, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PIPELINES
Williams Delays Louisiana Natural Gas Pipeline Over Dispute with Energy Transfer - U.S. energy firm Williams Companies Incorporated (NYSE:WMB) (Tulsa, Oklahoma) has delayed the completion of its Louisiana Energy Gateway natural gas pipeline project following a dispute with a rival, Williams Chief Executive Officer Alan Armstrong said on Wednesday at a conference.
The 1.8 billion-cubic-feet-per-day pipeline was originally set to come online this year but was delayed to the second half of 2025 following a dispute with Energy Transfer LP (NYSE:ET) (Dallas, Texas), the company previously said. Williams is still pushing ahead with the project but has not laid out a new start date, Armstrong said. The company was able to re-route the line around the disputed area. Other energy firms have fought with Energy Transfer in court, accusing the company of "blocking" their pipeline projects by not allowing them to cross Energy Transfer's pipelines in the area. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for more details on the project. (Reuters)
CRUDE OIL
U.S. Crude Oil, Gasoline Stockpiles Decline - U.S. crude oil inventories fell for the second week in a row, dropping by 2 million barrels to 445 million barrels in the week ending March 15, the U.S. Energy Information Administration (EIA) reported Wednesday. Gasoline stocks continued a seventh straight week of drawdowns, falling by 3.3 million barrels to 230.8 million barrels, the EIA said. On the Gulf Coast, gasoline in storage fell by 1.82 million barrels to 76.58 million barrels, the lowest in three years, EIA data shows. Distillate stockpiles rose by 624,000 barrels to 118.5 million barrels in the week. (Reuters)
PRODUCTION
Suriname Presses ExxonMobil, Total to Combine Gas Developments - Suriname's state-owned oil company Staatsolie (Paramaribo) has begun talks with oil majors Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) and TotalEnergies SE (NYSE:TTE) (Courbevoie, France) to encourage joint development of natural gas fields that straddle its and Guyana's maritime borders, the head of its state oil firm told Reuters late Tuesday. The early-stage discussions are part of Suriname's efforts to increase foreign investment in its energy production and turn the South American nation into a regional gas hub. Its first major oil production from offshore is about four years away. (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).
PIPELINES
Williams Delays Louisiana Natural Gas Pipeline Over Dispute with Energy Transfer - U.S. energy firm Williams Companies Incorporated (NYSE:WMB) (Tulsa, Oklahoma) has delayed the completion of its Louisiana Energy Gateway natural gas pipeline project following a dispute with a rival, Williams Chief Executive Officer Alan Armstrong said on Wednesday at a conference.
The 1.8 billion-cubic-feet-per-day pipeline was originally set to come online this year but was delayed to the second half of 2025 following a dispute with Energy Transfer LP (NYSE:ET) (Dallas, Texas), the company previously said. Williams is still pushing ahead with the project but has not laid out a new start date, Armstrong said. The company was able to re-route the line around the disputed area. Other energy firms have fought with Energy Transfer in court, accusing the company of "blocking" their pipeline projects by not allowing them to cross Energy Transfer's pipelines in the area. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for more details on the project. (Reuters)
CRUDE OIL
U.S. Crude Oil, Gasoline Stockpiles Decline - U.S. crude oil inventories fell for the second week in a row, dropping by 2 million barrels to 445 million barrels in the week ending March 15, the U.S. Energy Information Administration (EIA) reported Wednesday. Gasoline stocks continued a seventh straight week of drawdowns, falling by 3.3 million barrels to 230.8 million barrels, the EIA said. On the Gulf Coast, gasoline in storage fell by 1.82 million barrels to 76.58 million barrels, the lowest in three years, EIA data shows. Distillate stockpiles rose by 624,000 barrels to 118.5 million barrels in the week. (Reuters)
PRODUCTION
Suriname Presses ExxonMobil, Total to Combine Gas Developments - Suriname's state-owned oil company Staatsolie (Paramaribo) has begun talks with oil majors Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) and TotalEnergies SE (NYSE:TTE) (Courbevoie, France) to encourage joint development of natural gas fields that straddle its and Guyana's maritime borders, the head of its state oil firm told Reuters late Tuesday. The early-stage discussions are part of Suriname's efforts to increase foreign investment in its energy production and turn the South American nation into a regional gas hub. Its first major oil production from offshore is about four years away. (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 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).
