Infinity to pursue Nicaragua offshore concession
Independent oil and gas exploration and development company, Infinity Energy Resources, Inc. entered into a definitive agreement with Amegy Bank and Offishore Finance, LLC to convert all debt owed by the company to both entities into Convertible Preferred and Infinity Common Stock.
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.
Pentair and Tyco International merge
Pentair, Inc. and Tyco International Ltd. announced a definitive agreement to combine Tyco’s Flow Control business Tyco Flow with Pentair in a tax-free, all-stock merger.
PowerSecure to build transmission lines for oil &
PowerSecure International, Inc. was awarded a contract to build electrical transmission infrastructure to support a series of new oil and gas production sites by a major energy company in partnership with a prominent electric utility.