Business News
Brookfield to Acquire Colonial Pipeline in $9 Billion Deal Including Debt
Colonial's pipeline system stretches over 5,500 miles from Houston in Texas to New York's harbor. It moves 100 million gallons of fuel daily, including gasoline, jet fuel, diesel and heating oil, according to its website.
ConocoPhillips Eyes Sale of Oklahoma Assets Worth Over $1 Billion, Sources Say
ConocoPhillips is exploring the sale of oil and gas assets in Oklahoma’s Anadarko Basin inherited from its $22.5 billion Marathon Oil acquisition. The assets could fetch over $1 billion as part of the company’s $2 billion divestment plan.
Phillips 66 Finalizes $2.2 Billion EPIC NGL Deal, Adding 885 Miles of Pipeline
Phillips 66 has completed its $2.2 billion acquisition of EPIC NGL, adding 885 miles of pipeline and two fractionators to its midstream portfolio. The assets will boost capacity and strengthen its Permian-to-Gulf Coast connectivity.
Brookfield Nears $9 Billion-Plus Deal for Colonial Pipeline, Sources Say
Brookfield Asset Management is nearing a deal to acquire Colonial Pipeline, the largest U.S. fuel transportation network, for more than $9 billion including debt, sources say. A formal announcement could come within weeks.
India’s LPG Fleet Grows as BW LPG Sells Two Carriers for $150 Million
BW LPG Limited has signed a Memorandum of Agreement to sell two Very Large Gas Carriers (VLGCs) — the BW Pampero and BW Chinook — to BW LPG India, its joint venture with Global United Shipping.
Sempra to Sell Gas Assets in Mexico, Trim Infrastructure Stake
Sempra will sell its Ecogas Mexico business and a minority stake in Sempra Infrastructure to help fund a $56 billion capital plan focused on utility investments in Texas and California, with transactions expected over the next 12 to 18 months.
Gulf Energy Information Opens Nominations for 2025 Excellence Awards
Gulf Energy Information is pleased to announce that nominations are now open for the 2025 Gulf Energy Information Excellence Awards, the premier international honors recognizing outstanding innovation, leadership, and achievement across the global energy sector.
Elliott Sues Phillips 66 Over ‘Gamesmanship,’ Seeks Nomination Rights for Four Board Seats
Elliott Investment Management has filed suit against Phillips 66, accusing the company of boardroom gamesmanship and seeking nomination rights for four director seats at the 2025 annual meeting.
Williams Cos. COO Micheal Dunn to Retire in 2025 After Decades of Leadership
Williams Cos. has announced that Micheal Dunn, Executive Vice President and Chief Operating Officer, will retire effective May 2, 2025. Dunn, who has been with the company for over three decades, has played a pivotal role in shaping Williams into a unified, industry-leading operating company.
Gibson, Baytex Partner on Pembina Duvernay Infrastructure Deal
Gibson Energy and Baytex Energy have formed a strategic partnership to develop midstream infrastructure in the Pembina Duvernay, securing a long-term take-or-pay agreement.
Enbridge Names Steven W. Williams as Board Chair
Enbridge Inc. has appointed Steven W. Williams as its new Chair of the Board, effective May 7, 2025, following the retirement of current Chair Pamela L. Carter.
HYLAN Launches New Gas and Pipeline Division to Expand Infrastructure Services
HYLAN, a market-leading provider of full-service turnkey communications solutions, electrical infrastructure design, and utility construction services, is expanding its capabilities with the launch of its new Pipeline Division.
Saipem, Subsea7 Agree to Multibillion-Dollar Merger to Form Saipem7
Saipem and Subsea7 have reached an agreement in principle to merge, forming a global energy services company with a combined backlog of $46.8 billion, revenue of approximately $21.8 billion, and EBITDA exceeding $2.2 billion.
North Sea Midstream Partners Names Angela Fletcher as CEO
Fletcher, who has served as NSMP’s chief commercial officer for the past year, takes over as the midstream operator continues efforts to support UK energy security and transition efforts.
ONEOK Completes EnLink Midstream Acquisition, Expands Value Chain
ONEOK Inc. has completed its acquisition of EnLink Midstream LLC, strengthening its integrated midstream operations and diversifying its platform. The transaction was approved by EnLink unitholders at a special meeting on Jan. 30.
INGAA Names Boardwalk Pipelines’ McMahon as 2025 Chair, Congratulates Christie on FERC Appointment
INGAA has announced Michael McMahon, Senior Vice President and General Counsel of Boardwalk Pipelines, as its chairman for 2025. Alongside this news, INGAA extended congratulations to Mark Christie on his appointment as Chairman of FERC.
Velocity Management Invests in Oklahoma-Based Pipeline Builder M Wright Services
M Wright Services, a pipeline construction company based in Weatherford, Oklahoma, has received a minority investment from Velocity Management Advisors, a partnership of seasoned midstream professionals.
Kim Rush Named President of NW Natural Gas, Effective April 2025
Northwest Natural Gas Company (NW Natural) has announced the appointment of Kim Rush as its next president, effective April 1, 2025. Rush, a 26-year veteran of the Portland-headquartered utility, will take on full strategic, financial, and operational responsibilities for the company.
Constellation Energy to Buy Calpine in $16.4 Billion Power Industry Mega-Merger
U.S. nuclear power provider Constellation Energy on Friday agreed to buy privately-held natural gas and geothermal company Calpine Corp. for $16.4 billion, marking one of the biggest acquisitions in the history of the U.S. power industry.
Chevron Eyes $6-8 Billion Free Cash Flow Growth in 2024, CEO Says
Chevron is positioned to increase its free cash flow by $6 billion to $8 billion by next year, and reduce expenses by "a couple billion dollars," said Chevron CEO Michael Wirth on Wednesday.
ONEOK Finalizes $1.2 Billion Sale of Natural Gas Pipelines to DT Midstream
ONEOK Inc. has completed the sale of its three interstate natural gas pipeline systems to DT Midstream Inc. for $1.2 billion in cash. The deal included the Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission systems.
Martin Midstream, Martin Resource Management Call Off Merger After Unitholder Pushback
Martin Midstream Partners has announced the termination of its merger agreement with Martin Resource Management Corp. Under the agreement, MRMC would have acquired all outstanding common units of MMLP not already owned by MRMC and its subsidiaries.
Oil States Sells Houston Ship Channel Facility for $24.8 Million
Oil States International Inc. has finalized the sale of its idled Houston Ship Channel facility, generating $24.8 million in net proceeds. The sale is part of the company’s broader strategy to optimize its operations and improve financial flexibility.
Matador Closes $600 Million Pronto Midstream Deal, Strengthens Balance Sheet
Matador Resources Company has finalized the contribution of its wholly-owned subsidiary, Pronto Midstream, LLC, to its midstream joint venture, San Mateo Midstream, LLC. The deal values Pronto at approximately $600 million and brings San Mateo's total estimated asset value to over $1.5 billion, net to Matador.
ADNOC Gas Names Fatema Al Nuaimi as CEO, Succeeding Ahmed Alebri
Abu Dhabi's ADNOC Gas said on Tuesday that it has appointed Fatema Al Nuaimi as its new CEO, effective Jan. 1, following Ahmed Alebri's decision to step down after nearly two years at the helm.
DT Midstream Closes $650 Million Offering in Move Toward ONEOK Acquisition Completion
DT Midstream has closed the previously announced offering of $650 million of 5.800% Senior Secured Notes due 2034. The sale is part of DT Midstream’s strategy to fund its previously announced pending acquisition of ONEOK pipeline systems.
Nut Tree and Caspian Urge Martin Midstream Unitholders to Reject Merger with MRMC
Nut Tree and Caspian Capital argue that MMLP’s merger proposal relies on a "deeply flawed" valuation and disproportionately benefits Ruben Martin III, MRMC's controlling figure, at the expense of unitholders.
ADNOC Weighs Stake Sale in Gas Unit, Potential Multi-Billion Dollar Deal: Report
ADNOC is reportedly considering selling a 3-5% stake in its gas unit, potentially worth billions, amid strategic reviews. The deal could be announced soon, pending market conditions.
Progressive Pipeline Management Acquired by Platform Partners
PPM, known for its trenchless pipeline rehabilitation services, specializes in restoring aging natural gas distribution pipelines using cured-in-place-lining (CIPL) technology, which minimizes surface disruption.
Pennybacker Acquires Miami LNG, Appoints New Leader for Growth Push
Pennybacker Capital Management has completed its acquisition of a small-scale liquefied natural gas (LNG) business in Miami from New Fortress Energy.
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Canada’s Canceled Oil Pipelines: The Projects That Didn’t Make It
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Michigan Court Backs Permits for Enbridge’s Line 5 Pipeline Tunnel Project
- Editor’s Notebook: Fire Fuels Pipeline Concerns
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Enbridge Plans $2 Billion Upgrade for North America’s Largest Crude Pipeline
