Phillips 66 Chairman and CEO Greg Garland.  ( James Nielsen / Houston Chronicle )

Phillips 66 cuts its capital budget nearly 20 percent

Phillips 66 also will move forward with a $2 billion share buyback program. Nearly 80 percent of Phillips 66’s growth capital is directed toward its midstream expansions in pipelines, storage and export terminals.
Overhead view of the site where Pinto Realty and USD Group will build a new terminal near the Houston Ship Channel (Pinto Realty)

Pair of Houston companies partner up to build new Ship Channel terminal

The 988-acre, TDWP Terminals property along Jacintoport Boulevard will ultimately support more rail delivery for liquid hydrocarbons, in addition to storage, blending and export operations, according to the announcement. The location offers access to inbound and outbound pipelines, as well as to barges and Gulf Coast refining centers.
A crew cleans oil from the beach at Refugio State Beach on May 20, 2015 north of Goleta, Calif.  (Photo by David McNew/Getty Images)

Lawsuit wants plans mandated for dealing with big oil spills

The group says the Department of Transportation was ordered to write regulations and review companies’ spill response plans 20 years ago but never has.
Midstream companies including Kinder Morgan, which operates this processing facility in Galena Park, are taking a hit in the stock market as oil prices fall. (Chronicle photo)

Kinder Morgan project faces delay

Planned expansions of Kinder Morgan pipelines that would supply gas to a proposed LNG export terminal in Georgia may be delayed by one month as the company awaits government approval for the projects.
(Daniel Acker/Bloomberg)

Keystone XL developer seeks different approval for route

Former Gov. Dave Heineman approved the Nebraska route in 2013 under a state law that allowed TransCanada to use eminent domain against holdout landowners, but opponents sued and the project has been mired in state courts ever since.
Workers at the Weatherford rod-pump manufacturing plant prepare to move parts into the plant Thursday, June 26, 2014, in Katy. (Brett Coomer/Houston Chronicle)

Willbros makes $130 million sale amid NYSE compliance concerns

Willbros Group energy construction company said it will sell its pipeline engineering and services business for $130 million in cash to Massachusetts-based TRC Companies as part of the financially struggling company’s downsizing and reorganization.

The deal is part of Houston-based Willbros’ efforts to restore its viability in the wake of a spate of investor activism and the recent risk of having its listing removed by the New York Stock Exchange.

Pipe-line - 3

Construction begins on Oryx’s Permian gathering pipeline

“The basin has some of the best rock in the U.S.,” said Oryx CEO Brett Wiggs in an interview with FuelFix.
Clean-up crew members from the environment ministry attempt to clear a pool of crude oil, leaked from a burst pipeline in the Arava desert, during the clean-up operation in the Evrona nature reserve near Eilat, Israel, on Thursday, Dec. 25, 2014. Ten days after the Trans-Israel pipeline burst, flooding the Evrona nature reserve with 5 million liters of crude oil, Israel's acting Environmental Protection Minister Ofir Akunis told the Cabinet Dec. 14 that 90 percent of the oil had been removed and the danger of it spreading to the Red Sea had been averted. Photographer: Ariel Jerozolimski/Bloomberg

Feds want tougher rules for oil pipelines

The U.S. Department of Transportation proposed expanding pipeline inspection requirements to include rural areas that are currently exempt and for companies to more closely analyze the results of their inspections.

Keystone XL developer drops landowner lawsuits in Nebraska

The developer of the Keystone XL pipeline is shifting course in Nebraska and will withdraw lawsuits seeking to gain access to the property of landowners who oppose the project, the company announced Tuesday.
Midstream companies including Kinder Morgan, which operates this processing facility in Galena Park, are taking a hit in the stock market as oil prices fall. (Chronicle photo)

Midstream stocks slammed again

An index that tracks 50 large midstream companies has fallen 11 percent this week.