Postponed Oil & Gas Auction, Reopening Texas Power Plant: 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.

CRUDE OIL
U.S. Crude Oil Inventories Fall - U.S. crude oil inventories fell by 5 million barrels in the week ending May 15 to 526.5 million barrels. U.S. gasoline stocks rose by 2.8 million barrels, and distillate stockpiles, which include diesel and heating oil, rose by 3.8 million barrels. (Reuters)

PRODUCTION
Trump Administration Abruptly Postpones New Mexico Oil & Gas Auction - The Trump administration abruptly postponed an auction of oil and gas leases in New Mexico that had been scheduled to begin on Wednesday morning without providing a reason for the move. The parcels that were scheduled for sale are in New Mexico's southeast corner, overlaying part of the Permian Basin, the world's biggest oil field. It would have been the first government oil and gas auction since U.S. crude oil futures briefly plunged below zero for the first time in history a month ago. (Reuters)

POWER
Closed Texas Power Plant May Restart in 2021 - A now-closed coal-fired power plant in Texas may be reopened in 2021 to help meet what is projected to be record high demand for electricity. The Gibbons Creek plant, located about 15 miles east of Bryan, has only been fired up in the summer in 2016 and 2017 for peak-demand use and has been closed since 2018. (Plant 1017160) (Kallanish Energy)

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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.