Companies

Element Fuels Holdings, a Dallas-area startup proposing to build the first all-new U.S. oil refinery in nearly 50 years, on Thursday said it was relaunching efforts to build a large plant in South Texas.

TC Energy shareholders voted in favor of spinning off the Canadian company's liquids pipeline business on Tuesday, creating a new energy infrastructure firm known as South Bow Corp. whose assets include the Keystone oil pipeline.

Cash-rich ExxonMobil and Chevron are bolstering their oil and gas drilling inventory with multibillion-dollar takeovers as they bet on resilient demand for years to come.

Stay informed about the latest appointments, expansions, and industry insights in this concise business column. From new executive roles at leading companies to strategic manufacturing ventures, get key updates shaping the corporate landscape. Plus, stay in the loop with association initiatives and industry events.

The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their reserves.

LNG developer Tellurian will use most of the proceeds from the sale of its natural gas assets to Aethon Energy to pay off long-term debt, a company spokesperson said on Wednesday.

Aethon Energy said it would buy Tellurian's upstream assets for $260 million and signed a deal that could allow the investment firm to purchase two million tons per annum of LNG from Tellurian's Driftwood LNG plant.

ConocoPhillips has agreed to acquire Marathon Oil in an all-stock transaction valued at $22.5 billion, the latest in a series of mega-mergers in the oil and gas industry as companies look to bolster reserves.

Martin Midstream Partners said on May 24 it received a buyout cash offer of $3.05 per common unit from Martin Resource Management for all the units it does not already own.

Stay informed about the latest appointments, expansions, and industry insights in this concise business column. From new executive roles at leading companies to strategic manufacturing ventures, get key updates shaping the corporate landscape. Plus, stay in the loop with association initiatives and industry events.

The Paris Court of Arbitration has rejected a bid by Savannah Energy Plc to freeze COTCO oil pipeline company's accounts after Chad nationalized its upstream assets in the country, Chad's transitional government said on Monday.

Williams Companies beat first-quarter profit estimates on Monday, as the pipeline operator benefited from increased rates and favorable contributions from acquisitions.

The acquisition grants Sunoco access to NuStar's extensive transportation and storage infrastructure, encompassing approximately 9,500 miles of pipeline and 63 terminals.

Kremlin-owned gas giant Gazprom said on Thursday it plunged to a net loss of $6.9 billion in 2023, its first annual loss in more than 20 years, amid dwindling gas trade with Europe, once its main sales market.

U.S. regulators on Thursday gave the go-ahead to Exxon Mobil's $60 billion purchase of Pioneer Natural Resources, but barred Pioneer's former CEO from Exxon's board on allegations he attempted to collude with OPEC to raise oil prices.