Daily News Energy Headlines from March 8, 2017

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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 Soar, Gasoline Takes Dip - The U.S. Energy Information Administration announced that U.S. crude stocks rose 8.2 million barrels in the week to March 3. Gasoline posted its biggest weekly inventory drawdown since April 2011, with a 6.6 million-barrel drop. (Reuters)

FINANCIAL
Anadarko Raises Capital Budget - Anadarko Petroleum Corporation (NYSE:APC) said it plans to hike capital spending by more than a third this year, with the bulk of its $4.5 billion budget headed for U.S. oil fields. (Fuel Fix)

American Midstream and JP Energy Announce Completion of Merger - American Midstream Partners (NYSE:AMID) (Houston, Texas) announced Wednesday the completion of its merger with JP Energy Partners (NYSE:JPEP) (Irving, Texas). The combined partnership will have an estimated enterprise value of $2 billion. (Business Wire)

Then & Now: Has Devon Finished Rationalizing its Portfolio? - For some companies, portfolio rationalization is a destination, not a journey, and few oil & gas producers have been on a longer journey than Devon Energy Corporation (NYSE:DVN) (Oklahoma City, Oklahoma). The company was an active buyer and seller of acreage in the year leading up to the late 2014 crude-oil price collapse, and in the 30 months since prices tanked, Devon has continued buying, selling and taking asset impairment charges. (IIR)

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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.