Canada has approved Sunoco’s $9.1 billion acquisition of Parkland Corp., clearing a key hurdle for the transaction expected to close later this year and expand Sunoco’s fuel infrastructure across North America.
Pembina Pipeline Corp. has completed a $225 million subordinated note offering and plans to redeem its Series 9 preferred shares in December 2025, using the proceeds to strengthen its balance sheet and streamline capital structure.
Colonial Pipeline, operator of the largest U.S. refined-fuel network, confirmed plans to cut jobs as part of a restructuring under new owner Brookfield Infrastructure. The $9 billion acquisition marks the first time the 5,500-mile pipeline has had a single owner since the 1960s.
OQ has launched a new polypropylene pipe grade, Luban RP6207B, designed for hot and cold-water systems to improve global infrastructure reliability and water security. The innovation debuts alongside 17 new polymer solutions at K 2025.
Phillips 66 will book $100 million in charges as it winds down its 139,000-bpd Los Angeles refinery by year-end, including $30 million tied to its midstream segment for retiring transportation assets. The refinery received its final crude shipment Sept. 30, with processing to end in mid-October.
The Canadian midstream operator controls key natural gas and NGL processing, storage and transportation assets in the Montney and Duvernay regions.
MidOcean Energy, backed by EIG, has agreed to acquire a 20% stake in PETRONAS’ Canadian LNG assets, including the North Montney joint venture and LNG Canada project. The deal expands MidOcean’s role across the LNG value chain and secures long-term offtake potential.
Imperial will cut 20% of its workforce as part of a restructuring aimed at saving $150 million annually by 2028. The company expects a $330 million charge in Q3 2025 but says production targets at Kearl and Cold Lake remain unchanged.
XRG has acquired an 11.7% stake in Phase 1 of the Rio Grande LNG project in Brownsville, Texas—its first U.S. gas investment. The deal, made with Global Infrastructure Partners, advances construction of Trains 1–3 and ties into ADNOC’s long-term LNG offtake plans.
TotalEnergies has acquired a 49% stake in Continental Resources’ Anadarko Basin gas assets, targeting 150 MMscfd in net output by 2030 and boosting its U.S. LNG integration.
Phillips 66 will acquire Cenovus Energy’s 50% stake in WRB Refining for $1.4 billion, gaining full ownership of the Wood River and Borger refineries and expanding its U.S. refining capacity.
Cresta Fund Management and Endurance Investment Partners are backing Sentinel Midstream’s Enercoast platform with a new investment vehicle, supporting Gulf Coast pipeline expansion and long-term midstream growth.
SI Solutions has acquired Integrity Specialists to expand its pipeline inspection and non-destructive examination services. The deal strengthens SI Solutions’ midstream capabilities and adds scale to its U.S. energy infrastructure operations.
Crescent Energy will acquire Vital Energy in a $3.1 billion all-stock deal, creating a top-10 independent oil and gas producer with assets across the Permian, Eagle Ford and Uinta basins.
The deal, which would give the consortium control of key LNG assets in Australia and Papua New Guinea, faces regulatory hurdles and rising investor skepticism.
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