Daily News Energy Headlines from April 27, 2016

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

EARNINGS REPORTS
Baker Hughes Posts Steeper Loss - Oilfield services company Baker Hughes Incorporated (NYSE:BHI) (Houston, Texas) posted a first-quarter net loss of $981 million, compared with a net loss of $593 million in the first quarter of last year.

Hess First-Quarter Loss Widens - Hess Corporation (NYSE:HES) (New York, New York) reported a first-quarter net loss of $509 million, compared with $389 million in 1Q15. The company pointed to lower realized selling prices as causing the widened loss.

CRUDE OIL
EIA: U.S. Crude Stocks Continue to Rise - The U.S. Energy Information Administration reports that U.S. crude stocks rose by 2 million barrels for the week ending April 22 to a new record high of 540.6 million barrels.

POWER
Groundbreaking Held for Mississippi Solar Farm - Southern Company (NYSE:SO) subsidiary Mississippi Power (Gulfport, Mississippi) and Silicon Ranch Corporation (Nashville, Tennessee) held a groundbreaking ceremony for a 50-megawatt solar farm in Hattiesburg, Mississippi, on Wednesday.

Southern Company Plans to Use Coal at Kemper Plant This Summer - Southern Company says it plans to begin burning coal at its $6.7 billion integrated gasification combined-cycle (IGCC) plant in Kemper County, Mississippi, this summer. The plant has been using natural gas since it began operations.

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About Industrial Info
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