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Four of the largest refineries in Texas are discovering widespread damage from the deep freeze that crippled the state and expect to be down for weeks of r.
Energy Transfer will acquire Enable Midstream Partners in an all-equity transaction valued at approximately $7.2 billion.
Energy Transfer LP (NYSE: ET) will acquire Enable Midstream Partners, LP (NYSE: ENBL) in an all-equity transaction valued at approximately $7.2 billion, ET reported Wednesday.
Acquiring Enable will strengthen ET’s natural gas liquids (NGL) infrastructure by adding gas gathering and processing assets in the Anadarko Basin in Oklahoma and integrate with ET’s U.S. Gulf Coast NGL transportation and fractionation assets, ET pointed out in a written statement. Moreover, Dallas-based ET noted out that it will gain significant gas gathering and processing assets in the Arkoma basin in Oklahoma and Arkansas as well as the Haynesville Shale in East Texas and North Louisiana.
Angolan lawmakers revoked a ban on exploration for crude and natural gas in protected natural reserves.
(Bloomberg) Angolan lawmakers revoked a ban on exploration for crude and natural gas in protected natural reserves, including the Kassanje Basin and the wildlife-rich Okavango River Basin.
Prospecting will be allowed in 5% of protected zones and “possibly” only 3% will be drilled, Mineral Resources Minister Diamantino Azevedo said.
“What we’re doing is not unheard of,” he said, citing the U.S., Norway and Gabon as examples of countries exploring for oil in protected zones. Oil revenues will benefit local communities and the parks themselves, he said.
Eni SpA posted a surprise fourth-quarter profit as crude prices began to recover and the contribution of low-carbon businesses helped offset the impact of the coronavirus pandemic.
(Bloomberg) Eni SpA posted a surprise fourth-quarter profit as crude prices began to recover and the contribution of low-carbon businesses helped offset the impact of the coronavirus pandemic.
The Italian giant, like oil companies around the world, has suffered the effects of the demand destruction wrought by the Covid-19 crisis. Yet it managed to take advantage of a rally in prices as pockets of consumption growth emerged, helping it beat expectations last quarter. Most of its biggest peers missed estimates.