Spectra Energy Corp. plans to spend about $500 million in Ohio to expand shipping capacity on its Texas Eastern pipeline system to handle rising natural-gas production from the Utica and Marcellus shale formations. More »
The Justice Department has cleared the way for Exelon Corp.’s $7.9 billion purchase of Constellation Energy Group, Inc. to go forward, but said the companies must agree to sell three Maryland power plants first. More »
The Texas environmental agency has rejected a request by oil giant Valero for a large tax break and potential $92 million refund at six refineries that installed equipment designed to remove sulfur dioxide from crude oil. More »
The Obama administration and European governments are seeking help from Arab and Asian allies to reduce Iran’s oil revenues in the dispute over its nuclear program, while trying to avoid causing a surge in prices that may threaten the global economic recovery. More »
The joint venture of Enterprise Products Partners and Enbridge Inc. to carry oversupplied crude at the Cushing hub to Gulf Coast refiners will begin seeking customer commitments next month, the companies said. More »
The average price of gasoline dropped to $3.03, down 4 cents from the week before, according to AAA gas gauge. Texas saw prices also drop 4 cents to settle at $3.05, and the national average is down 5 cents to $3.21. More »
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