Volumes Revised Downward to 3.7 MMBOEPD from 5.3 MMBOEPD Petrobras (ticker: PBR) has made all the headlines for all of the wrong reasons in the last several months, and the company is taking initiatives to shed its image as the most indebted oil major in the world. In a business management plan outlining operations for 2015 to 2019, PBR set
DCP Midstream Partners’ Lucerne 2 Plant Now Serving the DJ Basin Today, DCP Midstream Partners, LP (DPM), or the Partnership, announced its new 200 million cubic feet per day (MMcf/d) Lucerne 2 natural gas processing plant is now in service, increasing the Partnership’s processing capacity in the DJ Basin to approximately 400 MMcf/d. The Lucerne 2 plant is the largest
Magellan Midstream and LBC Tank Terminals Form 50/50 Joint Venture to Build Terminal and Pipeline Infrastructure on the Houston Gulf Coast Magellan Midstream Partners, L.P. (MMP) (“Magellan”) and LBC Tank Terminals, LLC (“LBC”) announced today that they have formed a 50/50 limited liability company Seabrook Logistics, LLC (“JV”), to own and operate crude oil storage and pipeline infrastructure in the
EUR Increase of 25% WPX Energy (ticker: WPX), a Tulsa-based exploration and production company with focus areas in the Piceance, San Juan and Williston basins, is preparing to ramp up activity in the second half of 2015. The company announced the acquisition of 14,300 net acres in the San Juan last week, and now plans on increasing its Williston rig
The Supreme Court has decided not to hear the case for BP and Anadarko, upholding lower court’s liability decision Appeals by BP (ticker: BP) and Anadarko Petroleum (ticker: APC) will not be heard by the Supreme Court, meaning the decision to hold the two companies liable for the Deepwater Horizon oil spill in the Gulf of Mexico in 2010 will
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors has approved, on June 26th, 2015, the 2015–2019 Business and Management Plan. The Plan has as its fundamental objectives to delever the Company and to generate value for its shareholders. The Plan projects the return of leverage to the following targets: net leverage below 40% by 2018 and 35%
The Supreme Court decides the $4-$6 million in benefits do not outweigh the $9.6 billion annual costs of new regulations The Supreme Court decided today in a 5-to-4 decision that the Environmental Protection Agency’s (EPA) proposed regulations regarding limits on the emission of mercury and other toxic pollutants from coal-fired power plants would place a financial burden on companies that
An estimated 32% of the $4.8 billion capital project will be spent locally in B.C. on the Coastal GasLink pipeline, with over 2,000 jobs expected to be created during construction and approximately $20 million in annual property tax payments. TransCanada (ticker: TRP) announced that it signed project agreements with six First Nations tribes regarding the company’s 670-kilometer Coastal GasLink pipeline
Story by Automotive News A year ago, Hyundai Motor Co. sponsored the 2014 FIFA World Cup with the motto “Because Fútbol.” Now, the Korean automaker is going after a different type of football fan as the automotive sponsor of the National Football League. Hyundai and the NFL jointly announced a four-year sponsorship deal today. “We are huge football fans at
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