UGI delivered record adjusted earnings for fiscal 2025, though midstream results were weighed down by lower gathering and processing margins. The company issued fiscal 2026 guidance and noted continued investment in its energy infrastructure portfolio.
The 2025 Gulf Energy Information Excellence Awards in Houston honored this year’s top midstream innovators, including Williams Companies, Saudi Aramco, Hifi, Cenit Transporte, and Pipeline Ultraisolation Group. Winners were recognized for advancements in digital transformation, pipeline integrity, automation, and safety across the global midstream sector.
Western Midstream has finalized its acquisition of Aris Water Solutions, strengthening its Delaware Basin operations and expanding its water management and midstream footprint across Texas and New Mexico.
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.
NextDecade CFO Brent Wahl will depart the company on Oct. 20, with Senior Vice President Mike Mott appointed as interim finance chief. The LNG developer reaffirmed plans to reach FID on Rio Grande LNG Train 5 by mid-November.
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.
Sunoco LP has priced $1.9 billion in senior notes to help fund its planned Parkland acquisition, upsizing the deal from $1.7 billion. Proceeds will support the purchase, debt repayment, and general corporate purposes.
Phillips 66 will sell a 65% stake in its Germany and Austria JET-branded retail fuel network for $2.8 billion, forming a joint venture with Energy Equation Partners and Stonepeak while retaining a minority interest.
Freedom CNG expanded its Western U.S. renewable fuel network with the acquisitions of Colorado-based X3CNG and Utah-based Lancer Energy, enhancing its CNG and RNG fueling capabilities.
Williams announced a leadership transition, with CEO Alan Armstrong moving to Executive Chairman and Chad Zamarin named as the company’s new CEO, effective July 1, 2025.
Sunoco will acquire Parkland Corporation in a $9.1 billion cash and equity deal, expanding its North American fuel network and maintaining Canadian operations, the companies announced.
When Exxon Mobil and Chevron report first-quarter results this week, investors will be focused on how falling oil prices have increased the risk to dividends and share repurchases for the rest of 2025.
Baker Hughes expects a $100 million-$200 million hit from tariffs and has lowered its 2025 global and North American upstream spending forecasts, citing oil price volatility and weakening demand.
ConocoPhillips is exploring the sale of oil and gas assets in Oklahoma’s Anadarko Basin inherited from its $22.5 billion Marathon Oil acquisition. The assets could fetch over $1 billion as part of the company’s $2 billion divestment plan.
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