Columbia Pipeline Partners (ticker: CPPL) began trading on the New York Stock Exchange today following its spin-off from NiSource Partners (ticker: NI). Under terms of the spin-off, CPPL is transferred NI’s pipeline and storage assets, while NI retains ownership of its natural gas and electric utilities. The company priced 46,811,398 common units at $23.00 per unit, above the initial estimate
Story by the Associated Press In the 1970s, the environmental movement had no bigger political hero than California Gov. Jerry Brown. He cracked down on polluters, ended tax breaks for oil companies and promoted solar energy. Forty years later, in his second go-around as governor, conservationists are among his harshest critics. Climate change is one of Brown’s key issues, and
Story by Reuters Faced with mounting writedowns on energy and metals assets, Japan’s trading houses are looking to step up the sale of assets to offset weaker income from resource businesses and fund shareholder returns, while reining in investment. Like global oil majors and miners, Japan’s trading companies have been caught flat-footed by the rout in commodities, with oil <CLc1>
Source: Petrobras Petróleo Brasileiro SA – Petrobras informs that its Board of Directors, in a meeting held today, has approved with majority vote the election of Aldemir Bendine as CEO of Petrobras replacing the current CEO, Maria das Graças Silva Foster. Maria das Graças Silva Foster is also leaving the Company’s Board of Directors, which elected Aldemir Bendine as its
From Reuters: In late 2013, Nigeria’s then central bank governor Lamido Sanusi wrote to President Goodluck Jonathan claiming that the state oil company had failed to remit tens of billions of oil revenues it owed the state. After the letter was leaked to Reuters and a local news site, Jonathan publicly dismissed the claim and replaced Sanusi, saying the banker had mismanaged the central bank’s budget.
United States crude production is expected to be at its highest since 1986, according to information compiled from Bloomberg and the Energy Information Administration. The increased domestic production has allowed the U.S. to diminish its need for imports – a luxury enjoyed by few countries around the globe. One of those countries on the import market is China, home of the
Martin Midstream Partners (ticker: MMLP) announced yesterday that it entered into an agreement to sell six liquefied natural gas barges for a total price of $41.25 million. MMLP has decided to exit the natural gas liquids floating storage and trans-loading business. The company purchased the six barges in 2013 when it entered the floating storage and loading business. All proceeds
OPEC’s biggest producer prices oil at record lows to the Asian market, raises rates in the U.S. and Europe Saudi Aramco announced its prices for March, dropping prices to the Asian markets to their lowest in over a decade in order to protect market share in the world’s fastest growing energy market. The new prices for March also showed increases
CORRECTION – Elsevier Wins 10 PROSE Awards Including Best eProduct Application: Virtual Microscope
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