Daily News Energy Headlines from January 16, 2018

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

FINANCIAL
BP Raises Payment for Deepwater Horizon - BP plc (NYSE:BP) raised the amount it will pay this year for the Deepwater Horizon accident as thousands of lawsuits related to the biggest oil spill in U.S. history start to wind down. The London-based company will record a new $1.7 billion charge in the fourth quarter of 2017 and pay $1 billion of that bill in 2018, it said in a statement Tuesday. (Bloomberg)

POWER
Saudis to Start Up to $7 Billion in Renewable Energy Projects This Year - Saudi Arabia expects to start up to $7 billion of renewable energy projects this year, with solar plants leading the way. Tenders will be issued this year for eight projects totaling 4.125 gigawatts of capacity. (Fuel Fix)

NATURAL GAS
U.S. Natural Gas Production, Prices and Exports Increased in 2017 - In 2017, natural gas spot prices at the national benchmark Henry Hub in Louisiana averaged $3.01 per million British thermal units (MMBtu), about 50 cents per MMBtu higher than in 2016. The higher prices in 2017 contributed to less natural gas consumption for power generation. Increased domestic production was offset by increased exports of natural gas by pipeline and liquefied natural gas (LNG) cargoes. (EIA)

FINANCIAL
Shell Expands Role in Renewables with Stake in Tennessee Solar Company - Royal Dutch Shell plc (NYSE:RDS.A) (The Hague, Netherlands) is upping its investment in renewable energy with a stake in Silicon Ranch Corporation (Nashville, Tennessee), a developer, owner and operator of solar energy plants. Silicon Ranch says it already has 880 megawatts (MW) of photovoltaic (PV) systems that are contracted, under construction, or operating in 14 states. Industrial Info is tracking $322 million in active projects involving Silicon Ranch and $1.48 billion in active renewable-energy projects involving Shell. (IIR)

PIPELINES
FERC Upholds New York's Permit Denial For Constitution Natural Gas Pipeline - The U.S. Federal Energy Regulatory Commission (FERC) upheld New York state's denial of a water-quality permit for the Constitution Pipeline, a proposed 124-mile pipeline that would carry 650 million cubic feet per day of natural gas from Pennsylvania to New York. Interests in the pipeline are owned by subsidiaries of Williams Companies Incorporated (NYSE:WMB) (Tulsa, Oklahoma), Cabot Oil & Gas Corporation (NYSE:COG) (Houston, Texas), Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) and WGL Holdings Incorporated (NYSE:WGL) (Washington, D.C.). (IIR)

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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.