Reuters WASHINGTON – The American Petroleum Institute oil and gas industry group said on Wednesday that it does not see a significant threat to the U.S. energy supply chain from the coronavirus pandemic. Oil and gas companies are implementing contingency plans focused on ensuring continuity of supplies to market, and preventing the spread of the virus to workers and the
Reuters Marathon Petroleum Corp on Wednesday tapped the head of its midstream business, Michael Hennigan, as its new chief executive officer and said it will retain the unit despite demands from shareholder Elliott Management to separate it. Hennigan replaces company veteran Gary Heminger, whose departure was announced in October when the largest U.S. independent refiner launched a sweeping restructuring that
Houston Chronicle More than half a billion tons of additional greenhouse gas emissions per year — equivalent to 8 percent of total U.S. emissions — may be generated by new oil, gas and petrochemical facilities in Texas and Louisiana, University of Texas researchers estimate. New petrochemical plants, liquefied natural gas export terminals and refineries being built along the coasts of Texas and
CVR Energy Announces Pricing of $1.0 Billion Private Placement of 5.250% Senior Notes due 2025 and 5.750% Senior Notes due 2028
Houston Chronicle Royal Dutch Shell Plc is seeking a bigger share of Mexico’s fuel market, even as regulatory changes make it harder for foreign companies to compete. The Anglo-Dutch oil major, which already owns about 200 gasoline stations in 12 states in Mexico, plans to grow its share of the retail fuel market to as much as 15% from 1%
Exxon ExxonMobil today issued the following statement in response to the verdict from the Supreme Court of the State of New York: “Today’s ruling affirms the position ExxonMobil has held throughout the New York Attorney General’s baseless investigation. We provided our investors with accurate information on the risks of climate change. The court agreed that the Attorney General failed to make
Reuters Prime Minister Narendra Modi said on Tuesday Saudi Arabia will invest in downstream oil and gas projects in India as part of a strategic partnership between the two countries, a move that would also help the world’s top oil exporter find a stable outlet for its crude. Modi, who is on a two-day visit to Riyadh to participate in
From Reuters U.S. sanctions on two units of Chinese shipper COSCO hit the liquefied natural gas (LNG) tanker industry on Monday as U.S.-listed Teekay LNG (TGP.N) said its shipping joint venture in Russia had been “blocked” because of its ties to COSCO. The United States imposed sanctions on COSCO Shipping Tanker (Dalian) Co and subsidiary COSCO Shipping Tanker (Dalian) Seaman
Source: Reuters – East Texas refineries shut key units on Thursday night and cut production after Tropical Storm Imelda brought days of heavy rain over the region, rivaling the inundation from 2017’s Hurricane Harvey. More than 40 inches (102 cm) of rain fell on Thursday across Jefferson County, which includes Beaumont and Port Arthur. Exxon Mobil Corp shut the large
Commitment Furthers Tailwater’s Downstream-Adjacent Investment Strategy Tailwater Capital LLC (“Tailwater”), an energy-focused private equity firm based in Dallas, today announced an equity commitment of $150 million to Triten Energy Partners (“TEP”, “Triten” or the “Company”), a newly established Company based in Houston pursuing downstream infrastructure projects. TEP will develop and acquire downstream facilities related to producing valuable fuels and chemicals
From Forbes The NYMEX Henry Hub price for natural gas has firmed up in recent weeks, rising over the $2.50/Mmbtu mark in early September 9 trading thanks to the ongoing heat wave in Texas and other states where natural gas provides a high percentage of power generation. While that price is low in the context of the past 20 years,
