Woodside Energy, Marathon Oil, Record U.S. Natural Gas Burn: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

POWER
U.S. Power Generators Burn Record Natural Gas on Hottest Summer Day So Far - U.S. power generators burned a record amount of natural gas on Tuesday, the hottest day so far of this summer, according to preliminary data from financial firm LSEG on Thursday. As homes and businesses cranked up their air conditioners to escape the heat this week, LSEG said power generators burned a preliminary 54.2 billion cubic feet per day (Bcf/d) of gas on Tuesday, which would top the current record of 52.8 Bcf/d on July 28, 2023. Power generator demand for gas slid to around 51.8 Bcf/d on Wednesday and 50.5 Bcf/d on Thursday with a slight reduction in average daily temperatures across the U.S. Lower 48 states as the remnants of Hurricane Beryl moved from Texas to Michigan.

ENVIRONMENT
U.S. Announces Record Pollution Penalty Against Marathon Oil - U.S. officials on Thursday announced a $241 million settlement with Marathon Oil Corporation (NYSE:MRO) (Houston, Texas) over alleged air pollution violations at dozens of the company's oil and gas facilities on a North Dakota Indian reservation, saying it was part of an ongoing crackdown. Under the deal, Marathon will pay a $64.5 million penalty, the largest ever for violations of the Clean Air Act from stationary sources, according to the Environmental Protection Agency and the Department of Justice, which jointly filed the settlement in federal court in North Dakota on Thursday. That penalty is more than double the combined total of the administration's 11 previous oil and gas Clean Air Act settlements, officials said. Still, it is dwarfed by Marathon's earnings, which were $1.55 billion last year. The company also will invest an estimated $177 million to bring its facilities into compliance with the law.

LNG
Australia's Woodside to Supply LNG to Taiwan - Australia's Woodside Energy Group (NYSE:WDS) (Perth) has signed a deal with Taiwanese state-owned natural gas firm CPC Corporation (Kaohsiung) to supply liquefied natural gas (LNG) for a period of 10 years to Taiwan, the company said on Thursday. Woodside will deliver 6 million tonnes of LNG over the period, starting from July. The company may supply another 8.4 million tonnes of LNG to CPC from 2034 to 2043, subject to conditions and agreement on terms for this period, it said.

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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).