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gulf coast

Pemex Refinery in the Hidalgo State in Mexico

Pair of companies to build 700,000-barrel crude oil storage near Houston

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The two companies said they will build about 700,000 barrels of new crude oil storage and a pipeline near Seabrook, Texas, about 30 miles southeast of Houston.
(Jason Alden/Bloomberg)

Gulf spill debt could hit BP hard over next few years, says ratings agency

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A federal judge in New Orleans could rule at any time on BP’s oil spill penalties, which could rise as high as $13.7 billion. BP has set aside just $3.5 billion for the fines, but Fitch said its rating adjustment assumes the judge will hand down the highest-possible penalty.
par petroleum refinery

PBF Energy snaps up Gulf Coast refinery for $322 million

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PBF Energy on Thursday announced plans to spend $322 million to buy a refinery and pipelines outside of New Orleans in a deal that gives the company a new footprint in the booming Gulf Coast refining corridor.
Senior project engineer Andy Aronson, left, and operations engineer Joel Vincent examine equipment at the Siluria Technologies plant in La Porte, where the company is testing processes it says could reduce the costs of making chemical building blocks and motor fuels from natural gas
Siluria Technologies at Braskem chemical plant on Friday March 27, 2015 in La Porte, Texas. 

Photo by Aaron M. Sprecher

Brazil’s biggest petrochem company considering Gulf Coast for massive natural gas project

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The factory would produce at least 1 billion pounds (450,000 metric tons) of resin a year and would be the U.S. polypropylene industry’s first world-scale project in about 12 years, said Mark Nikolich, a vice president at Braskem.
From left: Thad Hill, CEO of Calpine Corp., Leo Denault, CEO and Chairman of Entergy Corp. and Pat Vincent-Collawn, President and CEO of PNM resources. (Billy Smith II/Houston Chronicle)

CERAWeek: Cheap fuel, solid economy will give Texas a break from rising rates

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Texas’ rate hikes will be eased thanks to economic growth that has boosted power demand in the state and along the Gulf Coast.
Rich Kinder, left, chairman and CEO of Kinder Morgan. (Melissa Phillip/Houston Chronicle)

Kinder Morgan CEO says to expect more acquisitions

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Kinder Morgan’s board said it would raise the dividend to 48 cents per share, up 14 percent from the prior year’s Q1 payout of 42 cents per share.
Dow Chemical Co. chairman and CEO Andrew N. Liveris, front, addresses his employees and honored guests during the announcement of Dow's new ethylene production plant at Dow Texas Operations, Thursday, April 19, 2012, on the Brazosport College campus in Lake Jackson. (Nick de la Torre/Houston Chronicle)

Dow Chemical, Olin in $5 billion cash-and-stock deal

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Dow has been under pressure from the hedge fund Third Point LLC to split its specialty chemical and petrochemical businesses.
(Ty Wright/Bloomberg)

Houston’s Dune Energy seeks bankruptcy protection

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Dune Energy, a Houston-based exploration and production company, filed for bankruptcy protection in federal court Sunday.
(AP Photo/The San Antonio Express-News, Bob Owen)

Hedge funds are losing faith in oil rally while inventory swells

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Oil producers are spending less, idling rigs and delaying wells to stem output that the government predicts will reach a four-decade high this year.
(Thomas Shea photo)

Enterprise Products, Anadarko, Markwest and DCP announce joint venture for NGL pipeline

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Under the terms announced, Enterprise will continue to own 55 percent of the line that connects to its processing and storage hub in Mont Belvieu, Texas.