Article 770
Houston’s USD Partners expands to carry Canadian oil sands by rail

With pipeline capacity still relatively limited from the Canadian oil sands into the U.S, Houston’s USD Partners is expanding its terminal capacity in Oklahoma to offer more rail transportation access. While rail transportation still is considered more dangerous than pipelines, rail car access ...

EU signs off on Baker Hughes merger with GE Oil & Gas

The European Union’s regulatory body signed off Wednesday on the merger of Houston’s Baker Hughes with General Electric’s oil and gas division. The European Commission’s consent sets the table for the roughly $32 billion deal to close as soon as early July, pending the deal being cleared by the U.S. ...

Kinder Morgan Canada completes IPO for Trans Mountain Pipeline

Kinder Morgan on Tuesday said its Canadian subsidiary completed its initial public offering, raising $1.3 billion to expand its Trans Mountain pipeline. With the IPO closing at about $13 a share, Kinder Morgan is committed to moving forward with the $5.5 billion project to funnel Canadian oil s ...

Ensco buying Houston’s Atwood Oceanics for $840 million

Ensco said it will buy Houston’s Atwood Oceanics for about $840 million in a pairing of struggling deepwater drillers. London-based Ensco, which has operational headquarters in Houston, said it’s acquiring Atwood in an all-stock deal to solidify its standing as a global leader in offshor ...

Saudi Arabia’s Motiva plans for billions in Texas growth

Saudi Arabia’s Motiva Enterprises said it plans to spend billions of dollars more to expand its Port Arthur Refinery — already North America’s largest — and grow more in the petrochemical and refining sectors. Motiva, which finalized its divorce from Royal Dutch Shell in the beginning of ...

Kinder Morgan moving forward with Trans Mountain through IPO

Houston’s Kinder Morgan said it plans to start construction in September on its Trans Mountain pipeline project in Canada. The plans are contingent on Kinder Morgan’s successful completion of an IPO for its Canadian business next week to help fund the nearly $5.5 billion pipeline expansi ...

The nation’s crude oil glut continues to shrink

The nation’s supply of commercial crude took a big dip of 4.4 million barrels last week, continuing to slowly shrink North America’s glut of oil. The move continues the trend in recent weeks of slowly decreasing inventory levels, helping to allay fears of rising U.S. oil production coming too ...

Exxon Mobil completes massive plastics expansion near Houston

Exxon Mobil said Monday it has completed a large plastics plant expansion in Mont Belvieu as part of a massive, multibillion-dollar petrochemical growth effort in the Houston area. Exxon Mobil said it finished mechanical construction of two plastics facilities at its existing plant that will add 1.3 ...

Huntsman and Switzerland’s Clariant to merge as $14B company

The Woodlands’ Huntsman Corp. and the Swiss company Clariant said Monday they plan to combine in a so-called merger of equals to create one of the world’s largest specialty chemicals companies. The all-stock deal would create a $14 billion company called HuntsmanClariant. Huntsman CEO Pe ...

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