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In a call with investors on Thursday, Phillips 66 revealed that it will postpone plans for at least a year to build a condensate splitter and second fractionator at its Sweeny refinery.
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.
Engineering and construction firm Fluor Corp.’s revenue fell in the fourth quarter, but its backlog grew faster even though oil companies and other customers are spending less amid low crude prices.
Enable’s main offices are located in Oklahoma city, but the company operates its interstate pipeline segment in Houston.
The announcement for the two new lines followed bearish predictions for 2015 by the Houston-based pipeline and processing company.
Plans for the cuts and moves were in motion before oil prices began falling last year, a spokeswoman for the company said.
Bakken shale billionaire Harold Hamm and Canadian gas giant Encana Corp. are among the latest to peddle some of their most valuable assets and steadiest earners.
The company’s profits in its marketing and specialties division soared, rising from $105 million in the fourth quarter of 2013 to $367 million a year later.
The American Petroleum Institute’s decision to create a new midstream department focusing on that segment of the oil and gas industry follows the lead of regulators, executives and environmentalists who also are increasingly involved in energy infrastructure.
Plains All American set its course forward into a more uncertain energy market with a flurry of deals and third-quarter results propelled higher by the flood of crude flowing from shale plays.