Daily News Energy Headlines from June 8, 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 Stocks Fall; Gasoline, Distillates Rise - U.S. crude oil stockpiles fell 3.2 million barrels for the week ending June 3. Gasoline stocks rose 1 million barrels, while distillate stocks rose 1.8 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub declined 1.4 million barrels.

Shell Becomes Second Oil Major to Restart Iranian Oil Purchases - Royal Dutch Shell (NYSE:RDS-A) (The Hague, Netherlands) has resumed purchases of Iranian crude oil, becoming the second major oil company after Total SA (NYSE:TOT) (Paris, France) to resume trade with Tehran.

NATURAL GAS
IEA: Global Gas Demand to Slow - Paris-based International Energy Agency says that after global demand growth of 2.5% per annum for the past six years, global natural gas demand growth will slow to an average of 1.5% per year. India will remain a strong region for demand growth, at 6% per year.

PIPELINES
Enlink Midstream to Expand Permian Gathering System - Enlink Midstream Partners LP (NYSE:ENLK) (Dallas, Texas) and Enlink Midstream LLC (NYSE:ENLC) (Dallas) say that a subsidiary will spending $70 million to $80 million to construct a new crude oil gathering system, known as Greater Chickadee, in the Permian Basin.

PRODUCTION
ConocoPhillips' Surmount Oil Sands Has 10% of Wells Active - ConocoPhillips (NYSE:COP) (Houston, Texas) says about 10% of the wells at its 60,000-barrel-per-day Surmount oil sands project have been restarted after wildfires forced the project to shut down.

FINANCIAL
PG&E Unveils $20 Billion-Plus Capital Spending Plans for 2016-2019 - Pacific Gas & Electric Company (PG&E) (San Francisco, California), the electric and gas utility unit of PGE Corporation (NYSE:PCG) (San Francisco), plans to spend about $5.6 billion this year on capital projects, the utility told investors last month. The utility also outlined annual capital spending plans of between $5.4 billion and $6.5 billion for 2017-2019.

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