Article 670
The U.S. is transitioning into a natural gas exporter

The United States is on track to become a net exporter of gas next year, driven largely by the growth of liquefied natural gas exports, according to the U.S. Energy Department. The U.S. started exporting LNG last year, courtesy of Houston-based Cheniere Energy, and the country is increasingly piping ...

Fairway Energy sues Magellan for Houston pipeline access

Houston-based Fairway Energy is taking the fight over access to Houston’s largest oil pipeline network to court. Fairway on Tuesday sued Oklahoma-based Magellan Midstream Partners for damages over Magellan’s refusal to connect Fairway’s new underground oil storage system to its exi ...

Forum Energy Technologies names new CEO

Houston’s Forum Energy Technologies promoted its president to the chief executive role as the oilfield products company attempts to bounce back from the oil bust. Forum President Prady Iyyanki added the CEO title to his position, while outgoing CEO Christopher Gaut steps into the executive cha ...

Enbridge on track to close Spectra acquisition in March

Canadian pipeline giant Enbridge is on track to close its $28 billion acquisition of Houston-based Spectra Energy in March as originally planned, the companies said. They confirmed the U.S. Federal Trade Commission signed off on the deal, and they’re just waiting on clearance under the Canadia ...

Partial sale of Dakota Access Pipeline completed after construction resumes

Dallas-based Energy Transfer Partners completed a $2 billion sale of stakes in the controversial Dakota Access Pipeline, which restarted construction this week after receiving regulatory approval from the U.S. Army Corps of Engineers. Energy Transfer sold a 36.8 stake in the roughly $4 billion pipel ...

Oceaneering CEO stepping down, president promoted

Oceaneering International President Roderick Larson will advance into the chief executive role in May after current CEO Kevin McEvoy steps down. McEvoy, 65, will remain on the board of Houston-based Oceaneering. McEvoy took over the CEO job in 2011 at the offshore energy services company. He’s ...

Crude oil inventories surge again

The nation’s crude stockpiles jumped again — this time by 9.5 million barrels — as the U.S.’s glut of oil supplies continues to grow. The nearly 1 percent jump in oil inventories follows an even bigger surge of 13.8 million barrels from the week prior, according to the Energy Department. ...

Gasoline prices set to rise in the coming months

Gasoline prices are set to start rising again in the spring and summer to mark the seasonal shift to a busier driving season with more expensive summer-grade fuels. Late February typically marks the time when many of the nation’s oil refineries undergo seasonal maintenance to begin churning ou ...

Huntsman reports growing profits

The Woodlands-based Huntsman Corp. reported increased profits and revenues in the fourth quarter as market conditions improved for the chemical company. Huntsman’s $128 million quarterly profit compares favorably to just a $4 million gain versus the end of 2015. For the full 2016, Huntsman pos ...

Marathon affiliate buys Enbridge pipeline for $220 million

Marathon Petroleum’s pipeline affiliate, MPLX, said it will buy an Oklahoma-to-Illinois pipeline system from Enbridge for $220 million. Ohio-based MPLX will take over the 433-mile crude oil pipeline that originates in the Cushing, Oklahoma storage hub and runs to Midwestern refining and pipeli ...

More