Phillips 66 Sells Stake in Gulf Coast Express for $865MM
After the sale, the ownership of the line will be split between affiliates of ArcLight Capital Partners and subsidiaries of Kinder Morgan, which owns the operating interest in the pipeline.
Phillips 66 to Sell stake in Texas Pipeline for $865 Mln
Dec 16 (Reuters) – Phillips 66 said on Monday it would sell its 25% stake in the Gulf Coast Express pipeline in Texas to an affiliate of ArcLight Capital Partners for $865 million, setting the U.S. refiner on course to exceed its asset sale target. Despite a fall in refining profits, Phillips 66 has opted to …
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Digital Twins in the Energy Industry: Transforming Operations in North America
According to a new report by GlobalData, the global digital twins market is set to hit over $150 billion by 2030. In the early days of the technology, digital twins were used in capital-intensive operations to streamline processes, save money, and control emissions. Since then, companies have seen the benefits of making digital twins of entire operations, including …
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Marathon, Teamsters Reach Pay Deal at Detroit Refinery
By Reuters Dec 15 (Reuters) – Teamsters members working at Marathon Petroleum’s Detroit refinery have voted to ratify a seven-year collective bargaining agreement, the company and the union said on Sunday, three months after workers walked off the job. “The process to safely welcome our employees back to the refinery is already in progress,” the Findlay, Ohio-based …
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Enbridge Reports 265,000-Litre Oil Spill in Wisconsin
EDMONTON — Calgary-based pipeline giant Enbridge says it has cleaned up about 60 per cent of a nearly 265,000-litre oil spill in Wisconsin that was discovered last month. Enbridge says the spill was discovered by an employee conducting a visual inspection of its Line 6 at the Enbridge Cambridge Station, west of Milwaukee, on Nov. …
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Wildcatting is Back: The New Lower 48 Oil Plays
Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
China’s CNOOC Sells US Assets to Britain’s INEOS
The Chinese oil and gas major said CNOOC Energy Holdings U.S.A. entered into a sales agreement with a subsidiary of INEOS relating to CNOOC’s upstream oil and gas assets in the U.S. part of the Gulf of Mexico.
Interview: How the Incoming Administration Can Unleash American Energy – Alex Epstein
Kimberly Guilfoyle recently interviewed me on what I think the incoming administration, including some promising new political appointees, can do to unleash American energy. The full video and transcript are below. As a preview, here’s what I view as the top 5 energy policy priorities: Liberate responsible energy development End preferences for intermittent electricity Set …
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Biden’s $400 Billion Green Bank Gets Ready for Trump
With President-elect Donald Trump’s inauguration less than a month away, the Energy Department is getting clean tech loans finalized. Today’s newsletter looks at who’s getting loans — and how Trump can remake the office. Dude where’s my loan? By Ari Natter and David R. Baker US President Joe Biden’s $400 billion green bank has just weeks to close billions …
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Venture Global’s Plaquemines LNG Starts Production
Venture Global LNG reached a final investment decision on the 20 million metric tons per annum Plaquemines facility 30 months ago.