Enbridge, Hurricane Ida Oil Loss: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CORPORATE
Enbridge Bolsters Gulf Coast Presence with Moda Midstream Buy - Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) said on Tuesday it was buying logistics company Moda Midstream Operating LLC (Houston, Texas) for $3 billion in cash, gaining access to an export terminal in Texas that loaded more than a quarter of all U.S. Gulf Coast crude exports last year. The terminal, Moda Ingleside Energy Center, connects the prolific Permian and Eagle Ford shale oil basins to international markets and has an export capacity of 1.5 million barrels per day and storage of 15.6 million barrels. Subscribers to Industrial Info's Global Market Intelligence (GMI) Terminals Plant Database can click here for the plant profile. (Reuters)

PRODUCTION
Oil Losses from Hurricane Ida Rank Among Worst in 16 Years - Hurricane Ida's damage to U.S. offshore energy production makes it one of the most costly since back-to-back storms in 2005 cut output for months, according to the latest data and historical records. A cumulative 17.5 million barrels of oil have been lost to the market, with shutdowns expected to continue for weeks. Ida could reduce total U.S. production by 20 million to 30 million barrels, according to energy analysts. (Reuters)

NATURAL GAS
U.S. Natural Gas Slides 3% on Milder Weather, Post-Ida Restarts - U.S. natural gas futures slipped about 3% on Tuesday as forecasts projected milder weather and energy firms continued efforts to restart facilities along the U.S. Gulf Coast after Hurricane Ida. Front-month gas futures for October delivery fell 14.4 cents, or 3.1%, to settle at $4.568 per million British thermal units, ending a session down for the first time in five sessions. (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 commodity-trading community. We are the number one source for information about power plant 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.