Daily News Energy Headlines from June 23, 2016

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

PRODUCTION
Canada Oil Output Forecast to Drop in 2016 - In its annual forecast released Thursday, the Canadian Association of Petroleum Producers forecasts that Canadian oil production will drop to about 3.82 million barrels per day (BBL/d), compared to 3.85 million in 2015, due to the Alberta wildfires and low prices deterring production. The association says it expects production to be more than 4 million BBL/d in 2017.

PIPELINES
California Oil Pipeline Leaks 700 Barrels - A crude oil pipeline belonging to Crimson Pipeline in Ventura County, California, leaked about 700 barrels of oil on Thursday. The leak was stopped before reaching the coast.

LNG
India's Top LNG Buyer to Expand Import Terminal - Petronet LNG Limited, India's biggest buyer of liquefied natural gas (LNG) says it will complete the expansion of an LNG import terminal on the nation's west coast by September. Capacity will be boosted 50% to 15 million metric tons per year.

FINANCIAL
Tesla Makes Takeover Bid for SolarCity - Electric car maker Tesla Motors (NASDAQ:TSLA) (Palo Alto, California) wants to acquire America's largest solar energy provider, SolarCity (NASDAQ:SCTY) (San Mateo, California), in a deal valued at $2.7 billion.

POWER
Vattenfall to Upgrade Safety at Forsmark Nuclear Reactors - Vattenfall has agreed to invest in modernizing the safety systems at three nuclear reactors in Sweden in order to allow them to operate beyond 2020.

CRUDE OIL
BP CEO: Oil Striking a 'Better Balance' - In a speech in Washington, D.C., BP plc (NYSE:BP) (London, England) CEO Bob Dudley said of crude oil that, "Global supply and demand recently have moved toward a better balance, and we expect this trend to continue into the second half of 2016 and probably reaching a balance by the end of the year on a daily basis," maintaining prices of $50 to $60 per barrel next year.

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About Industrial Info
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