Enbridge, U.S. Crude Oil Drawdown: 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.

EARNINGS REPORTS
Enbridge Quarterly Net Income Declines from Last Year - Canadian pipeline operator Enbridge (NYSE:ENB) reported second-quarter 2020 net income of C$1.65 billion ($1.24 billion), compared with C$1.74 billion ($1.3 billion) in second-quarter 2019. (Reuters)

CRUDE OIL
U.S. Crude Oil Stocks Post Steep Weekly Draw - U.S. crude oil inventories fell by 10.6 million barrels in the week ending July 24 to 526 million barrels. It was the largest one-week fall in crude stocks since December. Net U.S. crude imports fell 1 million barrels per day (BBL/d), the EIA said, dropping to 1.9 million BBL/d. (Reuters)

PRODUCTION
North Dakota to Spend $66 Million in Plug Abandoned Wells - North Dakota plans to spend $66 million to plug wells abandoned by oil and gas companies in the U.S. state after the pandemic crushed demand for crude oil. The $66 million has come from the Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, said Katie Haarsager, a spokeswoman for the North Dakota Oil and Gas Division, which is undertaking the project. The move is expected to create jobs and keep some of the oilfield services companies at work in the state. (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 https://www.industrialinfo.com.