Europe’s central banks jack up interest rates to fight inflation surge
BERN/LONDON, June 16 (Reuters) – Central banks across Europe raised interest rates on Thursday, some by amounts that shocked markets, and hinted at even higher borrowing costs to come to tame soaring inflation that is eroding savings and squeezing corporate profits. Fuelled initially by soaring oil prices in the wake of Russia’s invasion of Ukraine, […]
Chevron to acquire Renewable Energy Group
SAN RAMON, Calif. and AMES, Iowa — Chevron Corp. and Renewable Energy Group Inc. (REG) have formed a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share. The acquisition combines REG’s growing renewable fuels production and leading feedstock capabilities with […]
Nautic signs definitive agreement to acquire Vallen
PROVIDENCE, R.I. — Nautic Partners LLC has signed a definitive agreement to acquire Vallen Distribution from the Sonepar Group, in partnership with Vallen management. The sale is anticipated to close as soon as possible, following regulatory approval. “This partnership with Nautic marks an exciting new chapter for Vallen, with a focus on accelerating performance while […]
Montrose acquires Environmental Standards Inc.
LITTLE ROCK, Ark. — Montrose Environmental Group Inc. recently acquired Environmental Standards Inc. Terms of the transaction were not disclosed. Environmental Standards provides environmental consulting services to the oil and gas, utilities/energy, chemical, industrial/manufacturing, and landfill markets, among others. With a presence in 11 states, the company specializes in environmental chemistry, consulting geosciences, environmental data […]
Kraton Corp. completes merger with DL Chemical
HOUSTON — Kraton Corp. recently unveiled that the merger, pursuant to which DL Chemical Co. Ltd. acquired Kraton, has been completed. DL Chemical acquired Kraton in an all-cash transaction valued at approximately $2.5 billion. The merger enables Kraton to strengthen its global presence by leveraging DL Chemical’s manufacturing capabilities and footprint in the Asian market, […]
Whiptail Midstream acquires pipeline in San Juan Basin
TULSA, Okla. — Whiptail Midstream has acquired the oil, gas and water-gathering assets of DJR Energy in the Gallup oil window of the San Juan Basin. As part of the transaction, DJR has agreed to a long-term dedication of its leasehold acreage for oil, natural gas and water production to Whiptail. The acquisition more than […]
Chesapeake Energy completes Chief E&D Holdings acquisition
OKLAHOMA CITY — Chesapeake Energy Corp. has completed its previously announced acquisition of Chief E&D Holdings LP and associated non-operated interests held by affiliates of Tug Hill Inc. Nick Dell’Osso, Chesapeake’s president and CEO, commented, “The Chief transaction deepens our premium inventory, allowing us to allocate additional capital toward our world-class Marcellus Shale position and […]
PSC Group acquires Thermoplastics Services Inc.
PASADENA, Texas and BATON ROUGE, La. — PSC Group has acquired Thermoplastics Services Inc. (TSI). “Over the past 70 years, PSC has expanded its service offerings in response to the evolving needs of our customers. Today’s leading petrochemical producers are focused on the elimination of environmental plastic contamination, and the acquisition of TSI provides the […]
ArcLight to acquire Haynesville gas gathering system
BOSTON — ArcLight Capital Partners LLC and Cutlass Energy Partners LLC’s affiliate Saber Midstream LLC have entered into an agreement with an undisclosed seller to acquire a natural gas gathering system in the Haynesville basin of Louisiana and Texas. The parties anticipated closing the transaction at press time, subject to certain conditions and regulatory approval. […]
Integrated Global Services acquires Tube Tech
RICHMOND, Va. — Integrated Global Services Inc. (IGS) has acquired international cleaning and inspections solutions provider Tube Tech. “We could not be more excited to introduce Tube Tech to our global customer base,” said Rich Crawford, president and CEO of IGS. “This transaction significantly expands IGS’ portfolio of specialty services and enables us to directly […]
HollyFrontier, Holly Energy Partners establish new parent company
DALLAS — HollyFrontier Corp. and Holly Energy Partners LP (HEP) have established HF Sinclair Corp. as the new parent holding company of HollyFrontier and HEP as well as the completion of their respective acquisitions of Sinclair Oil Corp. and Sinclair Transportation Co. from The Sinclair Companies. HF Sinclair will be the parent company of a […]
Woodside completes $19.6B merger with BHP Petroleum
Houston-based BHP Group announced that the merger of BHP’s oil and gas portfolio with Australian gas company Woodside Energy Group Limited by an all-stock merger is complete. According to a statement on BHP’s website, the merger aims to create a global top 10 independent energy company by production and the largest energy company listed on the […]
CEO of Industrial Specialty Services discusses the recent merger with Leak Sealers
Phillips 66 announces completion of Phillips 66 Partners acquisition
Phillips 66 announced the completion of the previously announced merger between Phillips 66 Partners (PSXP) and Phillips 66. The merger resulted in Phillips 66 acquiring all limited partnership interests in PSXP not already owned by Phillips 66 and its affiliates. Partnership unitholders received 0.50 shares of PSX common stock for each outstanding PSXP common unit, including […]
Buyer interest in ExxonMobil’s Montana refinery rises with fuel margins
(Reuters) Record-high refining margins have renewed buyer interest in ExxonMobil Corp’s smallest oil refinery, a 61,500 barrel-per-day plant in Billings, Montana, said people familiar with the matter. U.S. profit margins for processing crude into gasoline, diesel and jet fuel hit five-year highs this month, reviving the plant’s appeal. Rising travel and fewer refineries from pandemic-shutdowns have […]
A long-term LNG sale and purchase agreement has been signed between Cheniere and Equinor
Cheniere Energy, Inc said that its subsidiary, Cheniere Marketing, LLC, has signed a sale and purchase agreement for liquefied natural gas with Equinor ASA. Under the SPA, Equinor has agreed to purchase approximately 1.75 million tonnes per annum of LNG from Cheniere Marketing on a free-on-board basis for a term of approximately 15 years. The deliveries under the SPA will […]
