Daily News Energy Headlines from March 21, 2017

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

FINANCIAL
U.S. Oil & Gas Industry Reaps Benefits of International Trade - Reuters analyst John Kemp discusses how the United States exported record quantities of natural gas, propane, gasoline, distillate fuel oil and light crude last year while continuing to import the heavy oils needed by its refineries. (Reuters)

PRODUCTION
Shell to Drill Wells to Shore Up Australian Gas Supply - Royal Dutch Shell (NYSE:RDS-A) said on Tuesday it will drill 161 new gas wells at its Queensland operations by the end of 2018, helping to underpin its promise to continue supplying 10% of Australia's domestic gas market to help prevent a shortage. (Reuters)

Marathon Buys Permian Acreage - Marathon Oil Corporation (NYSE:MRO) said on Tuesday it bought additional acreage in the Permian basin for about $700 million, the company's second purchase in less than two weeks as it focuses on higher-margin, lower-cost U.S. assets. The about 21,000 acres, situated in the Northern Delaware basin of New Mexico, was acquired from Black Mountain Oil & Gas and other private players, the company said. (Reuters)

CRUDE OIL
U.S. Crude Drops to Lowest Since November - Oil prices fell on Tuesday, with U.S. crude dropping to its lowest since November, as concerns about new supplies overshadowed the latest talk by OPEC that it was looking to extend output cuts beyond June. WTI settled at $47.34 per barrel. (Reuters)

PIPELINES
New Permian Takeaway Capacity Planned as Basin Production Grows - Production in the Permian Basin, the last of the North American basins to experience a drop in crude-oil production, has returned to its highs of just more than 2 million barrels per day. If the rate of recovery remains constant, the currently well-served Permian Basin is likely to find itself in need of new pipeline takeaway capacity in the not-so-distant future. (IIR)

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About Industrial Info
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