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Released July 27, 2018 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PIPELINES
EQT Delays Startup of Mountain Valley Pipeline - EQT Corporation (NYSE:EQT) said Thursday it delayed the targeted completion of its $3.5 billion Mountain Valley natural gas pipeline from West Virginia to Virginia to the first quarter 2019 from late 2018. (Project 300393622)
ONEOK to Acquire Remainder of West Texas LPG Pipeline System - ONEOK Incorporated (NYSE:OKE) announced it has entered into an agreement with Martin Midstream Partners LP to acquire its 20% interest in the West Texas LPG Pipeline LP for $195 million. With this acquisition, ONEOK will become the sole owner of West Texas LPG. (Market Insider)
EARNINGS REPORTS
ConocoPhillips Earnings Improve - ConocoPhillips (NYSE:COP) reported second-quarter 2018 earnings of $1.6 billion, compared with a second-quarter 2017 loss of $3.4 billion. (Business Wire)
Xcel Energy Reports Higher Earnings - Xcel Energy (NASDAQ:XEL) reported second-quarter 2018 net income of $265 million, compared to $227 million in the prior-year quarter. (Business Wire)
TERMINALS
Congress Readies to Sell Space in Strategic Petroleum Reserve - As Congress steadily sells off the oil contained within the Strategic Petroleum Reserve, it is now exploring a concept that would have been inconceivable a decade ago: allowing others to store oil in unused sections of the reserve. (Fuel Fix)
POWER
Large Windfarm Dealt Potentially Fatal Blow in Texas - Texas dealt a potential death blow to what would be the largest-ever U.S. windfarm: American Electric Power Company's (NYSE:AEP) $4.5 billion Wind Catcher project. The Texas Public Utility Commission on Thursday unanimously rejected the project as proposed, saying it doesn't offer enough benefits for ratepayers as currently structured. (Projects 300374260) (Bloomberg)
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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
EQT Delays Startup of Mountain Valley Pipeline - EQT Corporation (NYSE:EQT) said Thursday it delayed the targeted completion of its $3.5 billion Mountain Valley natural gas pipeline from West Virginia to Virginia to the first quarter 2019 from late 2018. (Project 300393622)
ONEOK to Acquire Remainder of West Texas LPG Pipeline System - ONEOK Incorporated (NYSE:OKE) announced it has entered into an agreement with Martin Midstream Partners LP to acquire its 20% interest in the West Texas LPG Pipeline LP for $195 million. With this acquisition, ONEOK will become the sole owner of West Texas LPG. (Market Insider)
EARNINGS REPORTS
ConocoPhillips Earnings Improve - ConocoPhillips (NYSE:COP) reported second-quarter 2018 earnings of $1.6 billion, compared with a second-quarter 2017 loss of $3.4 billion. (Business Wire)
Xcel Energy Reports Higher Earnings - Xcel Energy (NASDAQ:XEL) reported second-quarter 2018 net income of $265 million, compared to $227 million in the prior-year quarter. (Business Wire)
TERMINALS
Congress Readies to Sell Space in Strategic Petroleum Reserve - As Congress steadily sells off the oil contained within the Strategic Petroleum Reserve, it is now exploring a concept that would have been inconceivable a decade ago: allowing others to store oil in unused sections of the reserve. (Fuel Fix)
POWER
Large Windfarm Dealt Potentially Fatal Blow in Texas - Texas dealt a potential death blow to what would be the largest-ever U.S. windfarm: American Electric Power Company's (NYSE:AEP) $4.5 billion Wind Catcher project. The Texas Public Utility Commission on Thursday unanimously rejected the project as proposed, saying it doesn't offer enough benefits for ratepayers as currently structured. (Projects 300374260) (Bloomberg)
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.
