Daily News Energy Headlines from June 9, 2017

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

PRODUCTION
U.S. Oil Drillers Add Rigs for 21st Week - U.S. energy firms added oil rigs for a record 21st week in a row. Drillers added eight oil rigs in the week to June 9, bringing the total count up to 741, the most since April 2015. (Reuters)

Canada Invites China to Invest in Alberta's Oil Sands, as $12 Billion in Projects Set to Kick Off by End of Year - As he prepares to wrap up a five-day trip to China, Canadian Natural Resources Minister Jim Carr is telling his hosts that there are plenty of opportunities to invest in the Alberta oil sands, according to Reuters. Canada certainly would be happy to see foreign investment in the sector, given that low prices and hefty drilling costs have pushed many developers away. (IIR)

FINANCIAL
Encana Sells Colorado Natural Gas Assets - Oil and gas producer Encana Corporation (NYSE:ECA) said on Friday that it would sell its Piceance natural gas assets in northwestern Colorado to privately held Caerus Oil and Gas LLC for $735 million. (Reuters)

CRUDE OIL
Iran Boosts Oil Exports to West - Iran's oil exports to the West surged in May to their highest level since the lifting of sanctions in early 2016 and almost caught up with volumes exported to Asia, a source familiar with Iranian oil exports told Reuters. Last month, Iran exported about 1.1 million barrels per day (BBL/d) to Europe including Turkey, almost reaching pre-sanction levels and only slightly below the 1.2 million BBL/d supplied to Asia. (Reuters)

POWER
U.S. Northeast Heat Wave Could Give Jolt to Power Use - The most intense heat of the year across the U.S. East Coast may fire up electricity and natural gas prices as households and businesses crank up their air conditioners. Simmering temperatures expected to sweep across the U.S. Midwest, mid-Atlantic and Northeast over the next few days may boost power demand to a nine-month high. (Bloomberg)

Moody's: Marcellus Gas 'Wreaks Havoc' on PJM Merchant Generators - The PJM Interconnection (Valley Forge, Pennsylvania) has become a killing field for older, less-efficient merchant power plants, and conditions there likely will get worse before they better, according to a recent report by Moody's Investors Service (New York, New York), a unit of Moody's Corporation (NYSE:MCO) (New York, New York). (IIR)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.

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 https://www.industrialinfo.com.