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Released March 30, 2020 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
POWER
California Sets Goal to Double Clean Energy by 2030 - California on Thursday adopted a new emissions target for its electric sector that would double the state's clean energy capacity over the next decade and close the door to development of new natural gas plants. The state's Public Utilities Commission set a target of reducing greenhouse gas emissions to 46 million metric tons by 2030, 56% below 1990 levels. The goal outpaces the state's overall goal of slashing emissions to 40% below 1990 levels by 2030. (Reuters)
PIPELINES
Court Backs Environmental Review of Bayou Bridge Pipeline - A federal judge in Louisiana has ruled that the environmental review of the Bayou Bridge Pipeline by the U.S. Army Corps of Engineers was sufficient. The decision backs the federal government and Energy Transfer (NYSE:ET), the company that developed the 163-mile crude oil pipeline that went into service in March 2019. The suit had been filed in 2018 by environmental groups. The defendant was the U.S. Army Corps of Engineers, which gave the company approval to build the pipeline without a full Environmental Impact Statement. (Pipeline 3789918) (Kallanish Energy)
FINANCIAL
Apache Announces Further Spending Cuts - Apache Corporation (NYSE:APA) is making deeper budget cuts while its Permian Basin rig count has declined to zero. Apache reported Friday that the company has cut $1.3 billion from this year's capital spending budget, reducing the company's annual dividend by $340 million and cutting $150 million in other expenses. The company previously announced a $700 million capital spending cut. (Houston Chronicle)
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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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
POWER
California Sets Goal to Double Clean Energy by 2030 - California on Thursday adopted a new emissions target for its electric sector that would double the state's clean energy capacity over the next decade and close the door to development of new natural gas plants. The state's Public Utilities Commission set a target of reducing greenhouse gas emissions to 46 million metric tons by 2030, 56% below 1990 levels. The goal outpaces the state's overall goal of slashing emissions to 40% below 1990 levels by 2030. (Reuters)
PIPELINES
Court Backs Environmental Review of Bayou Bridge Pipeline - A federal judge in Louisiana has ruled that the environmental review of the Bayou Bridge Pipeline by the U.S. Army Corps of Engineers was sufficient. The decision backs the federal government and Energy Transfer (NYSE:ET), the company that developed the 163-mile crude oil pipeline that went into service in March 2019. The suit had been filed in 2018 by environmental groups. The defendant was the U.S. Army Corps of Engineers, which gave the company approval to build the pipeline without a full Environmental Impact Statement. (Pipeline 3789918) (Kallanish Energy)
FINANCIAL
Apache Announces Further Spending Cuts - Apache Corporation (NYSE:APA) is making deeper budget cuts while its Permian Basin rig count has declined to zero. Apache reported Friday that the company has cut $1.3 billion from this year's capital spending budget, reducing the company's annual dividend by $340 million and cutting $150 million in other expenses. The company previously announced a $700 million capital spending cut. (Houston Chronicle)
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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
