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Released June 16, 2020 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PIPELINES
U.S. Supreme Court Rules in Favor of Atlantic Coast Natural Gas Pipeline in Appalachian Trail Dispute - The U.S. Supreme Court on Monday decided that the federal government has the authority to allow the proposed $7.5 billion Atlantic Coast natural gas pipeline to cross under the Appalachian Trail in rural Virginia. The 7-2 ruling was a victory for Dominion Energy (NYSE:D) and President Donald Trump's administration, both of which appealed a lower court ruling that halted construction of the 600-mile pipeline, which would run from West Virginia to North Carolina. (Projects 300167416, 300168253, 300243526, 300168124) (Reuters)
FINANCIAL
BP to Write Off Up to $17.5 Billion from Assets with Bleaker Oil Outlook - BP (NYSE:BP) will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels. (Reuters)
CRUDE OIL
Oil Rises on OPEC+ Pact Optimism - Oil prices rose more than 2% on Monday as signs that fuel demand was recovering, while OPEC+ members were complying with a production cut deal. U.S. West Texas Intermediate (WT) crude rose 86 cents, or 2.4%, to settle at $37.12 a barrel. Brent crude gained 99 cents, or 2.6%, to settle at $39.72 a barrel. (Reuters)
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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, six offices in North America and 12 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.
PIPELINES
U.S. Supreme Court Rules in Favor of Atlantic Coast Natural Gas Pipeline in Appalachian Trail Dispute - The U.S. Supreme Court on Monday decided that the federal government has the authority to allow the proposed $7.5 billion Atlantic Coast natural gas pipeline to cross under the Appalachian Trail in rural Virginia. The 7-2 ruling was a victory for Dominion Energy (NYSE:D) and President Donald Trump's administration, both of which appealed a lower court ruling that halted construction of the 600-mile pipeline, which would run from West Virginia to North Carolina. (Projects 300167416, 300168253, 300243526, 300168124) (Reuters)
FINANCIAL
BP to Write Off Up to $17.5 Billion from Assets with Bleaker Oil Outlook - BP (NYSE:BP) will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels. (Reuters)
CRUDE OIL
Oil Rises on OPEC+ Pact Optimism - Oil prices rose more than 2% on Monday as signs that fuel demand was recovering, while OPEC+ members were complying with a production cut deal. U.S. West Texas Intermediate (WT) crude rose 86 cents, or 2.4%, to settle at $37.12 a barrel. Brent crude gained 99 cents, or 2.6%, to settle at $39.72 a barrel. (Reuters)
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, six offices in North America and 12 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.
