TC Energy, U.S. Rig Count: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

POWER
EIA: U.S. Coal-Fired Power Fleet to Halve by 2050 - The capacity of coal-fired power plants in the U.S. by 2050 will decline by more than half from 2022 levels, as environmental regulations raise costs and new plants powered by natural gas and renewable energy displace the aging fleet, the U.S. Energy Information Administration (EIA) said last week. In the EIA's Annual Energy Outlook 2023, three scenarios with varying costs of zero-carbon technology projected that coal-fired electric-generating capacity will decline by 52% to 88% to between 97 gigawatts (GW) and 23 GW by mid-century. (Reuters)

ENVIRONMENTAL
TC Energy Finishes Cleanup for Kansas Oil Spill - TC Energy Corporation (NYSE:TRP) (Calgary, Alberta) finished recovering oil from a rural Kansas creek where its Keystone Pipeline spilled 14,000 barrels of oil in December, the company said on Friday. The pipeline operator expects to remain onsite until the third quarter of this year to finish restoring the Mill Creek shoreline, TC Energy said in a statement. Keystone's spill into a Kansas creek was the biggest U.S. oil spill in nine years and prompted a 21-day shutdown of a portion of the 622,000-barrel-per-day pipeline, which ships crude oil from Alberta to U.S. refineries. (Reuters)

PRODUCTION
U.S. Rig Count Falls - The U.S. oil and natural gas rig count fell last week to its lowest in nearly a year, as gas rigs slumped by the most in a week since February 2016, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count fell by 17 to 731 in the week ending May 12, the lowest since June 2022. U.S. oil rigs fell by two to 586, their lowest since June 2022, while gas rigs plunged by 16 to 141, their lowest April last year. (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 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 leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).