(BOE Report) – Shell and Phillips 66 are working on a potential sale of their stakes in the company which owns the Explorer refined products pipeline, in a deal that could value the major piece of U.S. energy infrastructure at around $3.5 billion, people familiar with the matter said. The move reflects how heightened demand for energy infrastructure assets, especially
(BOE Report)– Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced it has reached an agreement for the sale, indirectly through wholly-owned subsidiaries, of its 50% interest in WRB Refining LP (WRB) to its joint venture partner Phillips 66. The consideration will consist of US$1.4 billion in cash, or approximately C$1.9 billion, subject to customary closing adjustments. “This transaction aligns with
(BOE Report) – Phillips 66 is expected to nominate two new directors to its board as the proxy fight with activist Elliott Investment Management intensifies, the Wall Street Journal reported on Wednesday citing people familiar with the matter. The refiner is set to disclose four nominees, including the two new ones, in its proxy materials Wednesday morning and will be
(Oil Price)– ConocoPhillips (NYSE: COP) is raising its ordinary dividend and share buyback program as its third-quarter earnings beat market expectations on the back of higher total oil and gas production and record output in the U.S. shale patch. The U.S. oil and gas producer reported on Thursday adjusted earnings per share of $1.78 for the third quarter, down from $2.16 EPS a
