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The move Tuesday comes just a week after Marathon offered a separate $400 million cash sweetener to the deal that has faced some investor resistance and tumbling stock values for both Marathon’s acquiring entity, the MPLX pipeline spinoff, and MarkWest. Former MarkWest CEO John Fox has rallied opposition against the deal.
TransCanada is pursuing bite-sized projects as it seeks to win approval for large-scale pipelines held up by environmental opposition and regulatory scrutiny, including the Keystone XL project rejected this month by U.S. President Barack Obama.
Energy infrastructure giant Enbridge said late Monday it will lay off 500 workers and eliminate another 100 unfilled positions as the company looks to cut costs amid the oil slump.
Energy Transfer said Monday it will move its retail gasoline business from one branch of its family tree into another with a $2.2 billion deal.
Federal regulators said the line owned by Plains All American Pipeline was constructed and operated in the same way as the line that broke May 19 outside Santa Barbara and the agency had found inspections of both pipes had underestimated corrosion inside.
Shell and other producers have also been using deals that sell some of their pipelines to help raise cash as they struggle with low crude oil prices.
Marathon Petroleum Corp. has upped the cash offer by $400 million in its pending, multibillion-dollar acquisition of Denver-based MarkWest Energy Partners. Marathon was prompted to offer the cash sweetener on Wednesday after watching the stock values for both MarkWest and its MPLX pipeline spinoff, the acquiring company on the deal, fall dramatically since July. In that time, the total […]
Pipeline giant Kinder Morgan and private equity shop TrailStone have plans to form a Mexican natural gas marketing company.
From New England to North Carolina, scattered insurgencies have formed in opposition to a spider web of pipelines up and down the Eastern Seaboard as the nation’s energy industry seeks to move pent-up natural gas supplies.
Georgios Papanikolaou is the Consul of Greece to Houston; Elena Sgarbi is the Consul General of Italy to Houston; and Ferhat Alkan is the Consul General of the Republic of Turkey to Houston.