Daily News Energy Headlines from June 22, 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 Stockpiles Fall for Fifth Week - The U.S. Energy Information Administration (EIA) reports that U.S. crude inventories fell by 917,000 barrels for the week ending June 17, marking the fifth consecutive week of drawdowns.

TERMINALS
EIA: U.S. Oil Storage Capacity Utilization Continues Rising - The EIA reports that U.S. crude oil storage rates have risen by more than 71 million barrels from the end of September, pushing capacity utilization rates to a near record-high of 73% for the week ending June 10.

FINANCIAL
Pioneer Acquisition Signals Deepened Commitment to Spraberry/Wolfcamp Play - Scott Sheffield could have taken a victory lap. But rather than resting on his laurels, he went into overdrive. Since announcing his retirement May 19 as chief executive officer of Oil & Gas company Pioneer Natural Resources Company (NYSE:PXD) (Irving, Texas), Sheffield has overseen a $435 million acquisition of acreage in its core Spraberry/Wolfcamp play, raised $837 million in a stock offering, increased 2016 capital spending by $100 million to $2.1 billion and pledged to add five horizontal drilling rigs in its Permian acreage during the second half of 2016.

POWER
Mexico's CFE Begins Construction of Empalme II Combined-Cycle Power Station - Mexico's state-owned electric utility, Comision Federal de Electricidad (CFE) (Mexico City), has begun construction of a $750 million, combined-cycle, natural gas-fueled electric power station in the city of Empalme, Sonora.

Siemens, Gamesa Creating Wind Energy Powerhouse - German engineering giant Siemens AG (FWB:SIE) (Munich, Germany) and Spanish renewable energy major Gamesa Corporation Technology S.A. (MCE:GAM) (Zamudio, Spain) have signed binding agreements to create what will be the largest wind energy company in the world.

PRODUCTION
Federal Judge Strikes Down Obama Plans to Regulate Fracking on Federal Lands - A federal judge in Wyoming on Tuesday blocked a rule from the Bureau of Land Management issued in 2015 that set detailed standards for the construction of oil and gas wells drilled on federal land.

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About Industrial Info
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