Daily News Energy Headlines from May 19, 2016

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

PRODUCTION
Wildfire Forces Suncor to Run Fort McMurray Upgrader 1 at Reduced Rate, Maintenance Work Halted on Upgrader 2 - Suncor Energy's (NYSE:SU) (Calgary, Alberta) oil sands Upgrader 1 in Fort McMurray has been running at minimal rates due to the massive wildfire in Alberta, and maintenance on the Upgrader 2 unit has been halted, IIR Energy reports.

OPEC: Oil & Gas Exploration Investment to Drop by Half - There will be a significant cut in oil and gas exploration and production investment over the next two years, according to the latest information from the Organization of Petroleum Exporting Countries (OPEC). The group said it expects investment for the 2016-18 period to reach around $40 billion, which is half the investment seen during the 2012-14 period.

PIPELINES
Bloomberg: BP to Sell Stake in Forties Pipeline - Sources familiar with the matter tell Bloomberg that BP plc (NYSE:BP) (London, England) is considering selling a minority stake in the Forties crude oil pipeline in the U.K. North Sea.

FINANCIAL
Texas Power Transmission Company Back on the Market - Energy Future Holdings Corporation's (Dallas, Texas) Oncor, Texas' largest power transmission company, is back on the market, after a consortium of buyers led by Hunt Consolidated Incorporated pulled out of a proposed $18 billion purchase deal, after regulators stipulated that ratepayers would share in tax savings arriving from the deal, rather than the money going solely to investors.

McClendon's American Energy to Shut Down - American Energy Partners LP, the firm founded by Aubrey McClendon after he was ousted as CEO of Chesapeake Energy Corporation (NYSE:CHK) (Oklahoma City, Oklahoma), says it will shut down following McClendon's death in March.

NATURAL GAS
U.S. Natural Gas Stocks Rise - The U.S. Energy Information Administration reports that U.S. natural gas stocks rose 73 billion cubic feet (Bcf) for the week ending May 13 to 2,754 Bcf. This compares to reserves of 1,963 Bcf at the same time last year.

Russia's Gazprom to Increase Natural Gas Production This Year - Russia's Gazprom says that it will increase production of natural gas to 452.5 billion cubic meters this year, up from 418.5 billion cubic meters in 2015.

POWER
U.S. Solar Developers Plan Brisk Pace of Construction Kickoffs - Solar Power is shining brightly in the U.S., where developers have scheduled construction starts for 169 projects totaling $25.67 billion between the start of 2016 and the end of 2020, according to Industrial Info's North American Industrial Project Database.

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About IIR Energy
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.