Daily News Energy Headlines from August 10, 2016

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

CRUDE OIL
U.S. Crude Shows Inventory Gain - The U.S. Energy Information Administration reports that U.S. crude inventories gained 1.1 million barrels for the week ending August 5, rising to 523.6 million barrels. The news helped lower crude oil prices, despite a 2.8 million-barrel drawdown in U.S. gasoline stocks. (Reuters)

Saudi Arabia Produced Record Amount of Crude in July - Saudi Arabia produced 10.67 million barrels per day (BBL/d) of crude oil in July, up from 10.55 million in June and eclipsing the previous monthly record of 10.56 million BBL/d set in June 2015. (Reuters)

PIPELINES
PG&E Found Guilty in California Pipeline Blast - PG&E Corporation (NYSE:PCG) (San Francisco, California) was found guilty by a federal court of safety violations in a 2010 natural gas pipeline explosion in San Bruno, California, that killed eight people. (Bloomberg)

Shell Declares Force Majeure on Nigeria LNG Supply Pipeline - A leak has forced Royal Dutch Shell (NYSE:RDS-A) (The Hague, Netherlands) to declare force majeure on a natural gas pipeline that supplies the bulk of gas to the Nigeria LNG plant on Bonny Island. (Plant: 3100597) (Bloomberg)

REFINING
Refinery Margins Squeezed as Gasoline Supply Continues to Build - Summer driving season is well under way. This time of year, also known as "gasoline season," runs from Memorial Day through Labor Day and is associated with declining supply inventories and improving refinery margins. However, the summer of 2016 actually has seen continued increases in gasoline supply that are well above five-year averages. While more pronounced in the U.S., the trend is consistent worldwide, with three major storage hubs showing markedly higher levels. (IIR)

POWER
NRG Boosts Capital Spending, but Plans Cuts as Biggest Nuclear, Natural Gas Projects Stuck in Neutral - NRG Energy Incorporated (NYSE: NRG) (Princeton, New Jersey) outpaced most other major U.S. power generation companies in the second quarter, as lower wholesale prices benefited its retail segment. The company upped capital expenditures to $622 million, from $583 million in the same period last year; but with a string of projects completed or near completion, and with several of the largest delayed indefinitely, the company plans to significantly reduce its growth spending in 2017. Industrial Info's project database is tracking more than $19.4 billion in active NRG projects. (IIR)

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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 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/.