Daily News Energy Headlines from September 20, 2016

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

FINANCIAL
Icahn Unloads More Than Half His Chesapeake Shares - A filing on Monday revealed that billionaire investor Carl Icahn had cut his stake in Chesapeake Energy Corporation (NYSE:CHK) (Oklahoma City, Oklahoma) by more than half to 4.6%. (Bloomberg)

Encana Sells Shares to Fund Permian Drilling - Encana Corporation (NYSE:ECA) (Calgary, Alberta) is selling about $1 billion of shares to fund drilling in Texas next year and repay debt. The company said it aims to double the number of wells on stream in the Permian Basin in 2017, compared to this year. (Bloomberg)

Brazil's Petrobras to Cut Spending - Brazil's state-owned oil company Petróleo Brasileiro SA (NYSE:PBR) (Petrobras) (Rio de Janeiro) pledged up to $74.1 billion in capital spending for the 2017-2021 period. The total of planned investments, which is Petrobras' smallest since 2006, compares with the prior 2015-2019 plan of $98.4 billion. (Reuters)

Energy Future Holdings Wins Approval for Oncor Sale - Energy Future Holdings Corporation (Dallas, Texas) won court approval to sell its Oncor electricity distribution business to NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) after NextEra agreed to increase its offer by $300 million. (Fuel Fix)

POWER
Report: Offshore Wind Could be Economic Boon if Market Conditions Improve - The U.S. Department of Energy (DOE) and Department of the Interior (DOI) recently published the National Offshore Wind Strategy, which advocates the accelerated development of U.S. offshore wind. The report seeks to enable 86 gigawatts (GW) of offshore wind energy in the U.S. by 2050, with a potential of 2,058 GW of offshore wind capacity accessible using today's technology. (IIR)

PRODUCTION
New Gas Fields to Boost Algeria's 2017 Output - Algeria is on track for more than 9 billion cubic meters a year additional gas output next year when three delayed projects in its southwest come online, a source at state energy company Sonatrach tells Reuters.

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About Industrial Info
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