Daily News Energy Headlines from July 12, 2017

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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 Supplies Fall - U.S. crude inventories fell 7.6 million barrels last week, the biggest weekly plunge in 10 months, the U.S. Energy Information Administration (EIA) said. (Reuters)

Nigeria Signals Willingness for Oil Production Cap - Nigeria signaled its willingness to cap its oil production to support OPEC's efforts to ease a global supply glut. The output limit would come into play when Nigeria can stably pump 1.8 million barrels a day. That's about 100,000 barrels more than it's currently producing. (Bloomberg)

Halliburton Expects Oil Price Spike in 2020 - Halliburton Company (NYSE:HAL) expects that the worst crude crash in a generation will lead to a spike in oil prices by 2020. Tumbling oil prices brought on by a glut of global oil has forced the industry to slash about $2 trillion in investments, according to the world's biggest fracking provider. Those cuts will weigh heavily on the market in a few years, when oil supplies fail to keep up with demand. (Bloomberg)

PIPELINES
Pipeline Companies Secure Assets Against Canada Wildfires - Major pipeline companies in western Canada created fire breaks, installed sprinklers and took other measures to protect operations as raging wildfires spread to more than 38,000 hectares (93,000 acres) in British Columbia. Enbridge Incorporated (NYSE:ENB) has taken a natural gas compressor station offline, but it said on Wednesday that there had been no significant reduction in volumes shipped. (Reuters)

FINANCIAL
NRG to Raise $4 Billion through Asset Sales - NRG Energy Incorporated (NYSE:NRG) said it would raise as much as $4 billion through asset sales and slash debt by $13 billion, sending its shares surging 21% to a near two-year high on Wednesday. (Reuters)

Shell to Divest Ireland Gas Project - Royal Dutch Shell (NYSE:RDS-A) said Wednesday that it will sell its leadership stake in a major natural gas play offshore of Ireland for about $1.2 billion. The deal is part of Shell's overall plan to divest about $30 billion in three years after acquiring United Kingdom-based BG in a massive energy consolidation. (Fuel Fix)

REFINING
U.S. Refining Capacity Increases - As of January 1, 2017, U.S. operable atmospheric crude distillation capacity reached 18.6 million barrels per calendar day, 1.6% higher than at the beginning of 2016, according to EIA's annual Refinery Capacity Report. (EIA)

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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.