Daily News Energy Headlines from March 11, 2016

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

PRODUCTION
Baker Hughes: U.S. Oil Drillers Cut Rigs for 12th Week - Baker Hughes reports that the number of rigs drilling for oil in the U.S. declined by six for the week ending March 11, bringing the total down to 386, and marking the 12th consecutive week of declines.

Argentina to Subsidize Oil Exports - Argentina will subsidize crude oil exports from the San Jorge basin in Patagonia by $7.50 per barrel as the government seeks foreign investment in the area.

PIPELINES
Iowa Gives Approval for Dakota Access Pipeline -The last state permit needed for Phillips 66 (NYSE:PSX) and Energy Transfer Partners' (NYSE:ETP) Dakota Access crude oil pipeline has been granted by Iowa regulators. The 346-mile pipeline will run from North Dakota to Illinois.

Williams to Begin Construction of Hillabee Expansion in May - Williams Companies (NYSE:WMB) (Tulsa, Oklahoma) says it will begin construction of the first phase of its Hillabee Expansion Project in May. The project will ultimately add 1.13 dekatherms per day of capacity to the company's Transco natural gas pipeline system. Construction involves 43 miles of additional pipe segments and a new compressor station in Alabama.

CRUDE OIL
IEA: Oil Prices May Have Bottomed Out - Paris-based International Energy Agency says that global oil prices may have already reached their lowest point. The agency forecasts that non-OPEC production will decline by 750,000 barrels per day (BBL/d) this year, an increase from the 600,000 forecast last month. The agency also said Iran was restoring production more slowly than planned.

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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
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