W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.
The billion-dollar legal battle among three oil and gas giants – Energy Transfer Partners, Enterprise Products and Enbridge – that went to trial last week sounds like a bitter divorce case, complete with accusations of a lovers’ triangle.
The idea to the lift the ban has drawn both interest and resistance in Congress, but midterm election politics may sour the congressional appetite to change the law this year. In a recent interview with FuelFix, Felmy argued the industry’s case for dismantling the ban.
Blue Dolphin, Valero Energy Corp., Kinder Morgan Inc. and others are trying to capitalize on the biggest boom in U.S. history by building new crude-processing equipment, reviving mothballed plants and opening new teapot refineries.
Schlumberger finished shutting down its Iranian business in the second quarter last year after losing $69 million and facing a U.S. probe into its activities in several sanctioned countries, regulatory filings show.
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