Enbridge, Pemex: Your Daily Energy News

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

PIPELINES
Enbridge to Form NatGas Supply Venture Connecting Permian and Gulf Coast - Pipeline operator Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) said on Tuesday it would form a venture with I Squared Capital (Miami, Florida) and pipeline firms WhiteWater (Austin, Texas) and MPLX LP (NYSE:MPLX) (Findlay, Ohio) to connect Permian supplies to the U.S. Gulf Coast to tap into strong LNG demand for exports. Enbridge will have a 19% stake, WhiteWater and I Squared a combined 50.6% stake while MPLX will hold 30.4% in the venture. The deal is expected to close in the second quarter. (Reuters)

PRODUCTION
Pemex Oil Output Falls to Lowest in More than 40 Years - Mexican state energy company Pemex (Mexico City) said its crude oil production in February hit its lowest monthly level in 45 years. The company's latest numbers, published late on Monday, showed Pemex pumped an average of 1.55 million barrels per day (BBL/d) in February, its lowest level since 1979. (Reuters)

CRUDE OIL
Indian Refiners Buy More U.S. Crude Oil - More than 250,000 BBL/d of U.S. crude is set to arrive in India next month, the highest in more than a year, ship tracking data showed, amid tighter enforcement of sanctions on Russian crude oil. India, the world's third-biggest oil importer and consumer, is looking to diversify its oil supplies as fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude oil. About 7.6 million barrels of oil, or 256,000 BBL/d, were headed to India on three very large crude carriers and three Suezmax vessels, according to ship tracking firm Kpler. (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) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).