Daily News Energy Headlines from August 16, 2016

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

FINANCIAL
Concho Resources Acquires Midland Basin Acreage - Concho Resources (NYSE:CXO) (Midland, Texas) announced on Monday that it has acquired 40,000 net acres in the Midland Basin from privately held Reliance Energy for $1.625 billion. (Businesswire)

LNG
Abundant Supply of LNG Causes Contract Renegotiation - This Bloomberg article discusses how the abundant supply of LNG as new Australian and US exports come to market is causing buyers in India and Japan to renegotiate long-term contracts to be better aligned with lower spot prices.

REFINING
Phillips 66 Puts Out Fire at Louisiana Refinery - A fire at Phillip 66's refinery in Lake Charles, Louisiana, was put out on Monday during a unit shutdown. No one was injured in the blaze. (Plant 1000068) (Outage 337543) (Fuel Fix)

CRUDE OIL
Crude Gains on Freeze Talk Possibility, Weakening Dollar - Continued talk of a potential production freeze from OPEC nations and a weakening dollar helped drive up the price of oil for September delivery on Tuesday. WTI rose 84 cents to settle at $46.58, the highest since July 12. Brent rose 88 cents to settle at $49.23, the highest since July 4. (Bloomberg)

POWER
Northleaf Readies Two Windfarms, One Solar Facility for Texas by End of Year - Northleaf Capital Partners (Northleaf) (Toronto, Ontario) is on schedule to have three renewable energy projects online by the end of the year: the 50.4-megawatt (MW) Cotton Plains Wind and 151.2-MW Old Settler Wind facilities in Floyd County, Texas; and the 15.4-MW Phantom Solar facility on-site at U.S. Army Garrison Fort Hood in Killeen, Texas. (IIR)

Drilling Begins For Geothermal Power Station in Nayarit, Mexico - Mexxus RG (Mexicali, Baja California, Mexico), a joint venture between Mexico's Mexxus Drilling and Iceland's Reykjavik Geothermal, recently began drilling for the Ceboruco Geothermal Power Station.

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About Industrial Info
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