Daily News Energy Headlines from August 1, 2016

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

POWER
New York Regulators Approve Nuclear Subsidies - New York state energy regulators have approved a plan to subsidize nuclear power plants by up to $965 million over two years to keep the reactors in operation and help meet the state's carbon reduction goals. (Reuters)

CRUDE OIL
U.S. Crude Falls Below $40 a Barrel - U.S. crude prices dipped below $40 a barrel for the first time since April on Monday as oil prices fell more than 4% on increased worries of a glut in supplies. Crude settled at $40.06. (Reuters)

U.S. Crude Exports Rise in May - The U.S. Energy Information Administration reports that U.S. crude oil exports averaged 662,000 barrels per day (BBL/d) in May, up by about 70,000 BBL/d from April and the highest monthly average since the U.S. lifted export restrictions in April. (Argus)

EARNINGS REPORTS
Williams Partners Reports Net Loss for Quarter - Pipeline company Williams Partners (NYSE:WPZ) reported a second-quarter net loss of $90 million, compared to net income of $300 million for the same period of 2015. The company pointed to a $341 million impairment charge associated with held-for-sale Canadian operations as the primary reason for the loss. (Business Wire)

ExxonMobil's 10 Top-Valued Projects Chained to Sinking Prices of Commodities, LNG - Friday morning witnessed an easily overlooked milestone in the recent economic recovery: Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) was surpassed in market value by Facebook (NASDAQ:FB) (Menlo Park, California) and Amazon.com (NASDAQ:AMZN) (Seattle, Washington), making it the last oil & gas company to leave the world's five most valuable companies, which are now inhabited entirely by tech companies.(IIR)

U.S. Refiners Take a Beating in Second Quarter - Second-quarter 2016 was not kind to the pocketbooks of many U.S. refiners. On Friday, three companies reported substantial drops in their refining income for the just-ended quarter amid thinner margins and operational issues. Nonetheless, progress was noted for several ongoing projects. (IIR)

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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, five offices in North America and 10 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/.