Daily News Energy Headlines from October 16, 2015

---

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

POWER
ERCOT: Clean Power Plan Could Shutter 4,000 MW of Texas Power - On Friday, Texas grid operator ERCOT released the results of a study on the Clean Power Plan, finding that up to 4,000 megawatts of power could be shuttered in the state as a result of the legislation.

PSEG to Spend $3.5 Billion to Expand Power Fleet - Public Service Enterprise Group Incorporated (NYSE:PEG) (PSEG) (Newark, New Jersey) says that it will spend $3.5 billion in the coming years to expand and modernize its fleet. The investment will include two natural gas-fired plants in Maryland and New Jersey, as well as nuclear uprates.

NGL
Phillips 66 Delays NGL Fractionator Startup - Phillips 66 (NYSE:PSX) (Houston, Texas) says that a mechanical failure has caused the company to delay the startup of a natural gas liquids (NGL) fractionator at its Sweeny Complex in Brazoria County, Texas.

FINANCIAL
Schlumberger Profit Down by One-Third - Drilling services company Schlumberger Limited (NYSE:SLB) (Houston, Texas) reports 3Q net earnings of $8.47 billion, down 33% from 3Q14. The company says it will cut additional jobs in the fourth quarter.

PIPELINES
Gas Pipeline Explodes in South Texas - A natural gas pipeline near the town of Encinal in south Texas exploded and caught fire early Friday morning. No injuries were reported. The pipeline is owned by Lewis Energy Group (San Antonio, Texas).

LNG
Australia's Gladstone Project Launches First LNG Cargo - Santos Limited (Adelaide, South Australia) has shipped the maiden cargo of liquefied natural gas (LNG) from its Gladstone plant in Australia.

PRODUCTION
U.S. Rigs Decline for Seventh Week - The number of rigs drilling for oil in the U.S. fell by 10 for the week ending October 16 to 595, marking the seventh consecutive week of declines.

.....

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.