Companies bid on offshore VA wind development
Eight companies have bid to develop offshore wind farms off the coast of Virginia, two of which are companies based in the state; the state’s largest electric utility, Richmond-based Dominion Resources and Charlottesville-based Apex Virginia Offshore Wind LLC.
Bentley & Exito to combine
Bentley Oil & Gas, a privately held company, has an agreement that will give it control of capital pool company, Exito Energy Inc. Exito will issue shares to acquire Bentley in the reverse takeover and due to the number of Exito shares to be issued, a majority of the public stock will be held by Bentley’s shareholders.
Valero suspending operations at Aruba refinery
Due to inadequate margins resulting in financial losses, Valero Energy Corp. is suspending operations at its Aruba refinery. Valero, a Texas-based independent oil refiner, acquired the 235,000bpd refinery in 2004 and is considering operating a terminal and storage facility at the site.
SAIC & Chevron agree on environmental services con
Science Applications International Corporation subsidiary SAIC Energy, Environment & Infrastructure, LLC has agreed on an environmental services contract with Chevron Corporation subsidiary, Chevron Environmental Management Company.
BP expands upstream exploration in Brazil
The Brazilian National Petroleum Agency approved BP’s farm-in to four deepwater exploration and production concessions in the Brazilian equatorial margin.