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Marathon Signs Definitive Agreements With ACON Investments and TPG Capital For Sale Of Minnesota Downstream Assets
Marathon Oil Corporation (NYSE: MRO) today announced that its wholly owned subsidiary Marathon Petroleum Company LP (MPC) has entered into definitive agreements with ACON Investments, LLC (ACON) and TPG Capital, L.P. (TPG) for the sale of most of Marathon's Minnesota downstream assets. ACON and TPG formed Northern Tier Energy LLC (Northern Tier Energy) to operate the assets as a stand-alone company.

date.png11 Oct 2010 10:57 | comments.png 0 Comments | tags.png downstream investing marathon refinery usa [ More ]

L&I issues record fine in deadly Tesoro explosion
After a six-month investigation, Department of Labor & Industries (L&I) has concluded that the deadly explosion at the Tesoro petroleum refinery in Anacortes could have been prevented.

date.png05 Oct 2010 05:58 | comments.png 0 Comments | tags.png explosion fine hse refinery tesoro usa [ More ]

Chesapeake Energy Corporation Monetizes Certain Barnett Shale Assets
Chesapeake Energy Corporation (NYSE:CHK) today announced it has monetized certain of its producing assets in the Barnett Shale. The company has sold a five-year volumetric production payment (VPP) to an affiliate of Barclays Bank PLC for proceeds of $1.15 billion. The transaction, which closed on September 30, 2010, includes approximately 390 billion cubic feet of proved reserves and approximately 280 million cubic feet per day of net production in 2011. Chesapeake has retained drilling rights on the properties below currently producing intervals and outside of existing producing wellbores.

date.png04 Oct 2010 12:43 | comments.png 0 Comments | tags.png chesapeake gas investing usa [ More ]

Technip awarded two hydrogen plant contracts in the United States
Technip has been awarded two lump sum contracts by Valero Refining Company and Diamond Shamrock Refining Company (both part of the Valero group) for two hydrogen plants at their refineries in Memphis, Tennessee and McKee, Texas.

date.png01 Oct 2010 05:56 | comments.png 0 Comments | tags.png refinery technip usa valero [ More ]

Murphy Oil USA to Pay $1.25 Million Penalty to Resolve Clean Air Act Violations
The U.S. Environmental Protection Agency (EPA), and the U.S. Justice Department announced that Murphy Oil USA has agreed to pay a $1.25 million civil penalty to resolve violations of the Clean Air Act at its petroleum refineries in Meraux, La. and Superior, Wis. As part of the settlement, the company will spend more than $142 million to install new and upgraded pollution reduction equipment at the refineries and also spend an additional $1.5 million on a supplemental environmental project.

date.png29 Sep 2010 07:57 | comments.png 0 Comments | tags.png epa murphy pollution refinery usa [ More ]

Golden Pass LNG Terminal Announces 1st Cargo for Commissioning
The Golden Pass LNG terminal announced today
that the first cargo to be used for commissioning the facilities is anticipated to arrive during
October 2010. This terminal is a joint venture owned 70% by Qatar Petroleum International (QPI), the international arm of Qatar Petroleum (QP), and the remaining by ExxonMobil and ConocoPhillips.

date.png29 Sep 2010 07:20 | comments.png 0 Comments | tags.png conoco exxon golden lng pass qatar terminal usa [ More ]

New growth for Shell in Upstream Americas
Royal Dutch Shell plc (“Shell”) reconfirmed strong momentum in its businesses in the Americas for a group of shareholders and analysts today, visiting Upstream assets in Canada. Shell’s oil & gas production in the region could reach 1 million barrels of oil equivalent per day in 2014, an increase of some 40% on current levels, subject to the pace of investment, which could be some $40 billion for the 2011-14 period.

date.png29 Sep 2010 05:38 | comments.png 0 Comments | tags.png shell upstream usa [ More ]
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