The new business unit is heavily focused on wind power and turbine manufacturing.
BP said it is focusing more on world-scale, low-cost facilities that utilize BP proprietary technology.
The sprawling facility sustained extensive damage from a tornado that ripped through the Pampa area, a Gray County sheriff’s deputy said.
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.
Oil field services companies reeling from the worst downturn in years continued hemorrhaging jobs this week as three providers announced plans to chop nearly 400 jobs in Houston and across the state amid an oil rout that shows no signs of abating.
Average retail prices on Monday for regular unleaded gasoline dipped by nearly 3 cents from last week down to $1.91 for the Houston area and $1.92 for Texas as a whole, according to GasBuddy’s daily survey data. In Houston, prices are 78 cents lower than the same time last year.
Noble Energy agreed to sell of its stake in two undeveloped gas fields in the Eastern Mediterranean to satisfy concerns that the Houston oil company held too much control over the country’s natural gas resources.
Chicago-based Invenergy will build a new 300-megawatt Texas wind farm near Lubbock to power Owens Corning insulation and fiberglass giant and Equinix data center company.
Oil field operators have pulled back about 65 percent of the rigs that were operating at the peak of the U.S. oil boom in October 2014.
The 49 billion cubic foot injection into storage reported by the U.S. Energy Information Administration brought total inventories to 3.98 billion cubic feet.