Woodside Petroleum, Phillips 66 Partners: 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.

PRODUCTION
Australia's Woodside Sees Reserve Base Tripling in Coming Years - Australia's Woodside Petroleum on Tuesday laid out plans to triple its gas and oil reserve base as it pursues projects worth more than $36 billion in Australia, Senegal and Myanmar. Success in those projects would result in its reserve base reaching 3.7 billion barrels over the next seven years and help Woodside expand production by 6% a year over the next decade, it said. (Reuters)

CRUDE OIL
U.S. Crude Stocks Rise - U.S. crude oil inventories rose by 1.4 million barrels in the week ending November 15. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 2.3 million barrels. (Reuters)

PIPELINES
Phillips 66 Partners Set to Lower Rates for Gray Oak Pipeline in Texas - Phillips 66 Partners LP (NYSE:PSXP) proposed cutting tariff rates to $3.90 a barrel to ship crude on its new 900,000-barrel-per-day Gray Oak crude pipeline within points in Texas. The company proposed both spot rates and committed rates of $3.90 a barrel to transport crude within Texas, down from the $4.75 rate it had set last month. (Project 300406628) (Reuters)

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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.