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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
FINANCIAL
Southern Company Completes Sale of Minnesota Power Plant - A subsidiary of Southern Company (NYSE:SO) has completed the sale of the Mankato Energy Center in Minnesota to Xcel Energy (NASDAQ:XEL) for $650 million. (Plant 1060412) (PR Newswire)
CRUDE OIL
Oil Rises as Libya Declares Force Majeure for Oilfields - Oil prices rose to their highest in more than a week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. Two major oilfields in southwest Libya began shutting down on Sunday after forces loyal to Khalifa Haftar closed a pipeline, potentially cutting national output to a fraction of its normal level. (Reuters)
India's Imports of Middle East Crude Fell in 2019 - India's imports of Middle Eastern oil plunged to a four-year low in 2019. India, the world's third-biggest oil consumer, imports about 84% of its oil needs and traditionally relies on the Middle East for the majority of its supplies. However, the region's share of India's crude shrank to 60% last year - down from 65% a year ago and the lowest since 2015 - as record output from the United States and countries like Russia offered opportunities for importers to tap other sources. India shipped in 2.68 million barrels per day oil from the Middle East in 2019, down about 10% from 2018. (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 http://www.industrialinfo.com.
FINANCIAL
Southern Company Completes Sale of Minnesota Power Plant - A subsidiary of Southern Company (NYSE:SO) has completed the sale of the Mankato Energy Center in Minnesota to Xcel Energy (NASDAQ:XEL) for $650 million. (Plant 1060412) (PR Newswire)
CRUDE OIL
Oil Rises as Libya Declares Force Majeure for Oilfields - Oil prices rose to their highest in more than a week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. Two major oilfields in southwest Libya began shutting down on Sunday after forces loyal to Khalifa Haftar closed a pipeline, potentially cutting national output to a fraction of its normal level. (Reuters)
India's Imports of Middle East Crude Fell in 2019 - India's imports of Middle Eastern oil plunged to a four-year low in 2019. India, the world's third-biggest oil consumer, imports about 84% of its oil needs and traditionally relies on the Middle East for the majority of its supplies. However, the region's share of India's crude shrank to 60% last year - down from 65% a year ago and the lowest since 2015 - as record output from the United States and countries like Russia offered opportunities for importers to tap other sources. India shipped in 2.68 million barrels per day oil from the Middle East in 2019, down about 10% from 2018. (Reuters)
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.
