An energy transportation company spun out of Phillips 66 reached a deal Thursday to buy 681 miles of pipeline and two propylene storage units for $700 million. More »
Phillips 66 is no longer betting its future on the massive refining business that made it the second-largest energy company in the world. Instead, it’s using refining, once its most profitable arm, as a cash cow to transform itself into a business that primarily operates energy transportation, storage and processing infrastructure. More »
Rapidly developing oil and gas production in North Dakota, Texas and other states is outpacing the construction of new pipelines and other infrastructure to carry those fuels to market, energy experts and former government officials warned Thursday. More »
Producers have become less reliant on Keystone XL as new rail terminals increase their ability to ship oil on trains. And support has grown for other pipeline proposals, including a separate TransCanada project that would carry crude from Alberta to the nation’s Atlantic Coast. More »
Fiery explosions involving oil-carrying trains help make the case for Keystone XL and other new pipelines to transport the crude, Republican Sen. John Hoeven says. More »
New projects have been the focus of major energy companies during the shale boom, with producers buying up large swaths of acreage, but upstream companies won’t be looking to continue that spending spree in 2014, according to an analysis from Deloitte. More »
Slowing economic growth in China and rising oil production in the Middle East could hamper global oil prices in 2014, especially in North America, according to Moody’s Investors Service. More »
Last year, Wall Street acquired a taste for a rare vintage in the oil and gas business: the master limited partnership. But it’s a complex security, and the average investor could run into unexpected pitfalls while stockpiling MLP units. More »
The derailment of a train carrying oil in North Dakota on Monday, and the subsequent evacuations caused by its explosion, could draw more regulatory scrutiny to rail shipments of crude. But the soaring use of trains to move oil is a long-term trend that is not likely to change soon, analysts say. More »
Thousands of miles of underground gathering pipelines in North Dakota are being mapped under new rules that require companies to report the locations to the state, a change that is being hailed by regulators, industry and the state’s biggest landowner group.
Plains All American Pipeline has announced $120 million in capital projects for the Eagle Ford Shale region, including a new natural gas liquids fractionator. More »
Eight out of 10 Americans support expanding the nation’s energy infrastructure, with new pipelines and other facilities to transport oil and gas across the U.S., according to a survey released Thursday.