The director of the U.S. Energy Information Administration said that U.S. production of condensate, a light oil separated from natural gas, has never been higher. But a fight over the substance has kept exports low. More »
Chevron hired an investment banking firm to identify potential buyers interested in its Hawaiian assets, which include the refinery in Kapolei on the island of Oahu, a pipeline that connects the refinery to a terminal in Honolulu and five terminals across the Hawaiian islands. More »
After building their fortune on oil, the Rockefeller family is joining growing chorus of philanthropies, foundations, religious groups and pension funds pledging to sell assets tied to fossil fuels, the New York Times reported Sunday. More »
French energy giant Total SA will sell $10 billion of assets from 2015 to 2017, the company announced at an event for analysts Monday, as part of a broader strategy designed to promote financial discipline within the company. More »
Siemens AG’s $7.6 billion deal to buy Houston’s Dresser-Rand Group is about more than collecting gas turbines and super-sonic engines: It’s about getting access to Houston, the epicenter of executive power in U.S. oil and gas, the German conglomerate’s chief executive said Monday. More »
Investors in Dresser-Rand will get $83 a share on the deal. The company’s share price on Friday closed up $6.88 to $79.91 on the New York Stock Exchange. In a recent regulatory filing, Dresser-Rand said it had about $1.15 billion in debt. That would make the cash purchase price worth nearly $6.5 billion. More »
Galveston Wharves trustees Monday will consider leasing 185 acres on the northeast corner of Pelican Island to Next Decade, a privately owned company focused on developing two Texas LNG export facilities. More »
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