Industry News

The Carlyle Group L.P., global asset manager and Sunoco Inc. have agreed to form a joint venture Philadelphia Energy Solutions, that will enable the historic Philadelphia refinery to continue to operate.

USD$1.7 billion in high bids out of a total USD$2.6 billion for all bids was drawn for the Central Gulf of Mexico Lease Sale. 593 bids on 454 tracts covering 2.4 million acres of the 39 million acres total offered were bid on by 56 operators.

Curtiss-Wright Corporation's Flow Control business segment's Electro-Mechanical Division business unit have signed a strategic alliance with Westinghouse Electric Company LLC to jointly pursue and develop business opportunities for the refurbishment of large motors for commercial nuclear power applications in North America and collaborate on new technology development.

Valener Inc. announced that Gaz Metro Limited Partnership's wholly owned subsidiary Northern New England Energy Corporation has completed the acquisition of Vermont's largest electricity distributor, Central Vermont Public Service Corporation (CVPS).

BP has agreed to sell its interests in the Jonah and Pinedale upstream operations in Wyoming to LINN Energy, LLC.

    Suncor Energy has begun its planned maintenance shutdown of the Terra Nova Floating, Production, Storage and Offloading (FPSO) facility that operates offshore Newfoundland and Labrador in Canada.

      Calpine Corporation subsidiary Calpine Energy Services L.P. Signed a power purchase agreement (PPA) to provide Xcel Energy subsidiary Southwestern Public Services Co.

Copano Energy LLC will add 400,000Mcf per day of cryogenic processing capacity at its Houston Central complex in Colorado County, Texas, to meet producer demand in the Eagle Ford shale play.

MRC Global Inc. (MRC) today announced that it has signed an agreement to acquire the majority of the operating assets of Cherokee, Oklahoma based Chaparral Supply, LLC, a wholly owned subsidiary of SandRidge Energy, Inc.

Exxon Mobil Corp. plans to build a multi-billion dollar chemical plant in Texas. Anticipated to be online as early as 2016, the plant would increase Exxon Mobil's chemical production capacity.   North America's largest natural gas producer since the purchase of XTO Energy Inc.