IIR's Daily Energy News Headlines

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) over the past week.

EARNINGS REPORTS
Hess Reports 2Q Loss on Lower Oil Prices - Despite increased crude oil and gas production, Hess Corporation (NYSE:HES) (New York, New York) reported a second-quarter net loss of $567 million, compared with net profit of $931 million in 2Q14. For more information view Industrial Info article - Hess Corporation Turns to Bakken Shale as Production Booms, Expects to Cut Capex through 2016.

Total's Profits Remain Strong - France's Total SA (NYSE:TOT) (Paris) surprised analysts by posting adjusted net income of $3.09 billion for the second quarter, down only 2% from last year. Profits in the company's Refining & Chemicals sector rose from $401 million in 2Q14 to $1.3 billion this year.

Low LNG Prices Triple Tepco's Profits - Tokyo Electric Power Company (Tepco) reported a 300%+ increase in second-quarter operating profits as global crude oil-linked LNG prices tumbled from the same period last year.

OTHER NEWS
Chevron to Cut 1,500 Jobs - Chevron Corp. (NYSE:CVX) (San Ramon, California) says that it will cut 1,500 jobs by the end of the year, including 950 in the Houston area.

CRUDE OIL U.S. Crude Oil Prices Up on Inventory Drop - The price of crude jumped today as the U.S. Energy Information Administration reported a decrease in the U.S. crude oil inventory of 4.2 million barrels to 459.7 billion last week.

PRODUCTION
Oklahoma Wastewater Disposal Wells Shut Down After Quakes - Devon Energy Corporation (NYSE:DVN) (Oklahoma City, Oklahoma) and Stephens Production (Houston, Texas) closed two wastewater injection wells and reduced operations at another after a series of earthquakes ranging from magnitude 2.0 to 4.5 were recorded north of Oklahoma City on Monday and Tuesday.

NATURAL GAS
EIA: Industrial Gas Use to Grow More Than 3% in Next Two Years - The EIA says that industrial facilities consumed an average of 21.0 billion cubic feet per day (Bcf/d) of natural gas in 2014 and that this is expected to rise to 22.5 Bcf/d in 2016.

LNG
Nigeria Places Order for More LNG Ships - Nigeria Liquefied Natural Gas plans to increase its global market share of the super-cooled gas and has placed an order for six additional LNG carrier ships to be delivered this year and next year, boosting its fleet to 23 ships.

Pakistan to Sign LNG Contract with Qatar - A top Pakistan energy official has told Reuters that Pakistan will sign a 15-year LNG purchase deal with Qatar in August.

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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, five offices in North America and 10 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.