Daily News Energy Headlines from January 18, 2018

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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 Inventories Decline - U.S. crude inventories declined 6.86 million barrels last week to the lowest level since February 2015, the Energy Information Administration (EIA) said. (Bloomberg)

PRODUCTION
EIA Expects Record U.S. Fossil Fuel Production in 2018-19 - In its January 2018 Short-Term Energy Outlook, EIA forecasts that total fossil fuels production in the United States will average almost 73 quadrillion British thermal units (Btu) in 2018, the highest level of production on record. EIA expects total fossil fuel production to then set another record in 2019, with production forecast to rise to 75 quadrillion Btu. (EIA)

Woodside Expects 2018 Production to Be Up 6.6% - Woodside Petroleum said on Thursday it expects 2018 annual production to grow by up to 6.6%. Australia's largest independent oil and gas producer posted 2017 production of 84.4 million barrels of oil equivalent (boe), at the lower end of its forecast of 84 million to 86 million boe. It forecast 2018 production of 85 million boe to 90 million boe. (Reuters)

COAL
U.S. Miner to Export Coal to Japan Power Plants - U.S. miner Cloud Peak Energy said on Tuesday it will export coal from a Montana mine for 30 to 40 months to two new power plants in Japan with shipments that could start late next year. (Reuters)

FINANCIAL
Transocean to Acquire Norway's Songa - Offshore drilling giant Transocean (NYSE:RIG) is finalizing its acquisition of Norway's Songa Offshore after shareholders on Thursday approved the deal. (Fuel Fix)

POWER
Duke to Spend About $200 Million to Convert Four Coal-fired Units - Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) plans to spend about $200 million to convert four coal-fired units at two stations in the Tar Heel State to burn partly or entirely natural gas. (IIR)

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About Industrial Info
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