Targa Resources, U.S. Power Grid: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CRUDE OIL
U.S. Crude Oil Supplies Fall - U.S. crude oil inventories fell by 3.4 million barrels in the week ending May 13 to 420.8 million barrels, the U.S. Energy Information Administration (EIA) reported. Refinery crude runs rose by 239,000 barrels per day last week, boosting the overall refinery utilization rate by 1.8 percentage points to 91.8%. U.S. gasoline stocks fell by 4.8 million barrels to 220.2 million barrels in a seventh consecutive weekly decline. Distillate stockpiles rose by 1.2 million barrels in the week, the EIA said. (Reuters)

POWER
NERC: Severe Drought Could Pose Problems for U.S. Power Grid This Summer - The organization responsible for North American electric reliability warned energy shortfalls were possible this summer in California, Texas and the U.S. Midwest, where extreme heat from a severe drought could cause power plants to fail. In its summer outlook, the North American Electric Reliability Corporation (NERC) said the ongoing drought continues to cut hydropower generation and cause wildfires in parts of the U.S. West. NERC said the hydropower reduction puts the entire U.S. West "at risk of energy emergencies due to the limited supply of electricity available for transfer" in the event of a wide-area extreme heat event. (Reuters)

PIPELINES
ArcLight Completes 25% Acquisition of Gulf Coast Express Pipeline - ArcLight Capital Partners LLC (Boston, Massachusetts) announced that it has completed the acquisition of a wholly-owned subsidiary of Targa Resources Corporation (NYSE:TRGP) that owns a 25% equity interest in Gulf Coast Express natural gas pipeline for $857 million. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipeline Asset Database can click here for the pipeline profile. (PR Newswire)

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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 commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.