Archive for October, 2016
NextEra Energy to buy rest of Oncor for about $2.4 bln
NextEra Energy purchasing Energy Future Holding Corp’s stake in Oncor Oct 31 (Reuters) – Power producer NextEra Energy Inc said on Monday it would buy the remaining stake in Oncor Electric Delivery Co for about $2.4 billion in cash. The company said it would buy the about 20 per cent indirect stake owned by Texas […]
Shell pulls out of latest Norway offshore exploration licence bidding, eyes next round
Shell’s miss on 23rd Norway offshore licensing round “sad and very regrettable”: Official BODOE, Norway, Oct 31 (Reuters) – Royal Dutch Shell expects to take part in the next bidding round for Norway offshore exploration licences, after dropping out of the latest one, the head of its Norwegian unit said on Monday. The oil major […]
Interest in latest UK oil exploration tender lowest in 14 years
In 2017, the hunt for UK oil is expected to fall to the lowest since the early 70s LONDON, Oct 31 (Reuters) – Britain’s latest tender for offshore exploration permits attracted the lowest interest in 14 years, underlining how the mature North Sea is struggling to entice explorers to extract the 20 billion barrels of oil equivalent […]
HollyFrontier to buy Suncor’s Petro-Canada lubricants unit
HollyFrontier to produce 28,000 b/d Oct 31 (Reuters) – U.S. oil refiner HollyFrontier Corp said on Monday it would buy Suncor Energy Inc’s Petro-Canada lubricants unit for C$1.13 billion ($844 million), expanding its North American lubricants business. HollyFrontier will become the fourth-largest lubricants producer in North America with a capacity of 28,000 barrels per day, or […]
NGTL pipeline expansion project gets green light from Trudeau government
NGTL pipeline project owned by TransCanada, valued at $1.3 billion By Nia Williams CALGARY, Alberta, Oct 31 (Reuters) – The Canadian government on Monday approved the C$1.3 billion ($968.78 million) expansion of a natural gas gathering pipeline in western Canada belonging to a wholly owned subsidiary of TransCanada Corp, with 36 conditions attached. The NOVA […]
GE and Baker Hughes merge to create No. 2 oilfield services provider
Proposed GE and Baker Hughes merge will have combined revenue of $32 billion By Swetha Gopinath and Ernest Scheyder Oct 31 (Reuters) – General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc, creating the world’s second-largest oilfield services provider as competition heats up to supply more-efficient products […]
Oil prices down more than $1 on OPEC output-cut concerns
Oil prices drop to one-month low By Ethan Lou NEW YORK, Oct 31 (Reuters) – Oil prices dropped more than $1 a barrel on Monday to hit one-months low on doubts about OPEC’s planned production cut and a build in U.S. crude inventories at the Cushing, Oklahoma storage hub. Officials from the Organization of the Petroleum […]
ConocoPhillips completes sale of exploration blocks offshore senegal
Three offshore exploration blocks, had a net carrying value of approximately $285 million HOUSTON – ConocoPhillips announced it completed a transaction for the sale of its shares in ConocoPhillips Senegal BV, which holds a 35 per cent interest in three exploration blocks offshore Senegal. “We are pleased to complete this transaction with Woodside,” said Matt Fox, executive […]
Suncor Energy sells Petro-Canada Lubricants business for $1.125 billion
Transaction expected to close Q1 of 2017 CALGARY, ALBERTA – Suncor Energy today announced it reached an agreement to sell its Petro-Canada Lubricants Inc. business to a subsidiary of HollyFrontier Corporation for gross proceeds of $1.125 billion, subject to customary closing adjustments. “Today’s announcement is another example of how Suncor is focusing on its core assets […]
Fort Calhoun becomes fifth U.S. nuclear plant to retire in past five years
As plant owners make decision to retire nuclear plants, utilities must replace lost nuclear capacity with generation from other sources The Fort Calhoun Nuclear Generating Station, located near Omaha, Nebraska, shut down on Monday, Oct. 24, after the Omaha Public Power District voted in June to retire the plant, citing economic reasons as the main […]
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