Daily News Energy Headlines from March 22, 2017

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

CRUDE OIL
EIA: U.S. Crude Inventories Rise - The U.S. Energy Information Administration reports that U.S. crude inventories rose 5 million barrels in the week to March 17 to 533.1 million barrels, with imports rising to 1.1 million barrels per day (BBL/d). (Reuters)

PIPELINES
Kinder Morgan Concludes Open Season for Trans Mountain Expansion - Kinder Morgan's (NYSE:KMI) (Houston, Texas) Trans Mountain crude oil pipeline has successfully concluded a supplemental open season for 22,000 barrels per day of capacity on its planned expanded pipeline, subject only to final shipper board approval for that volume. Collectively the firm shippers have made 15- and 20-year commitments of 707,500 barrels per day or roughly 80% of the capacity on the expanded pipeline. (Business Wire)

LNG
ICE to Trade U.S. LNG Futures Contracts - With the United States about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange Incorporated (ICE) said on Wednesday it would begin trading the first-ever U.S. liquefied natural gas (LNG) futures contract in May. (Reuters)

PRODUCTION
Libya Oil Production Rises to 700,000 Barrels per Day - Libya's oil production has reached 700,000 BBL/d, the National Oil Corporation said on Wednesday, recovering from a drop earlier this month caused by fighting at two key oil ports. (Reuters)

Federal Offshore Lease Sale Fetches $275 Million - A U.S. federal offshore lease sale in the Gulf of Mexico Wednesday drew $275 million in high bids, exceeding last year's totals as higher oil and gas prices continue to fuel hopes of a rebound. (Fuel Fix)

POWER
Ratepayers Could Be Losers from Nuclear Subsidies - Bloomberg reports that expanding state aid to money-losing nuclear reactors across the eastern U.S. may leave consumers on the hook for as much as $3.9 billion a year in higher power bills. Nuclear plant owners are seeking subsidies in Ohio, Connecticut, Pennsylvania and New Jersey after Exelon Corporation (NYSE:EXC) won state aid for reactors in Illinois and New York last year. (Bloomberg)

FINANCIAL
Oil Price Drops Happening at a Bad Time for Explorers - This Bloomberg article discusses how the drop in the price of oil is coming at a bad time as banks begin to reassess credit lines to E&P companies. (Bloomberg)

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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 http://www.industrialinfo.com.