Southern Company & Targa Resources' Spending Plans, U.S. Oil & Fuel Stocks: 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.

POWER
Southern Company Increases Spending Plan - Southern Company raised its five-year spending plan by roughly 7% on Thursday as the Georgia-headquartered electric and gas utility sells more electricity to data centers and industrial manufacturers. Southern Company expects to spend about $81 billion from 2026 through 2030, compared with its prior five-year plan of $76 billion, with about half of that spending going to boosting power generation. (Reuters)

MIDSTREAM
Targa Resources Announces 2026 Capital Plans - Midstream operator Targa Resources projected capital expenditures will be about $4.5 billion in 2026 and announced plans to build a new 275 million-cubic-feet-per-day natural gas processing plant, Yeti II, which is expected to start operations in the fourth quarter of 2027 in the Permian's Delaware Basin. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Reuters)

TERMINALS
U.S. Crude Oil, Fuel Inventories Fall - U.S. crude oil, gasoline and distillate inventories fell last week, the U.S. Energy Information Administration (EIA) said on Thursday, as demand rose from refineries to the fuel pump. U.S. crude oil inventories fell by 9 million barrels to 419.8 million barrels in the week ended February 13, the EIA said. Refinery runs rose by 77,000 barrels per day last week, the EIA said. Refinery utilization rates increased by 1.6 percentage points in the week to 91%, the highest rate in a month. U.S. gasoline stocks fell by 3.2 million barrels in the week to 255.8 million barrels. Distillate stockpiles fell by 4.6 million barrels in the week to 120.1 million barrels, the EIA data showed. (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 Resources
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).