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Dynegy to spend $6.25B on power plant acquisitions

The Associated Press  Dynegy plans to spend more than $6 billion to buy several coal and gas power generation plants from Duke Energy and Energy Capital Partners. Shares of the Houston power producer soared Friday before markets opened and after it announced the deals. The company plans to spend $2.8 billion on Duke’s retail business and ownership interest in several ...

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Tesoro names new executives

Vicki Vaughan | San Antonio Express-News SAN ANTONIO — Tesoro Corp. said Thursday that it has hired two new executives — including a new chief financial officer. Steven Sterin will join the locally based refiner as executive vice president and chief financial officer on Monday, while Cynthia “CJ” Warner will join the company on Oct. 6 as executive vice president ...

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BHP Billiton set to spin off unwanted assets

Sonali Paul and Silvia Antonioli | Reuters MELBOURNE/LONDON – Diversified mining company BHP Billiton declared its preference for a demerger of its aluminum, manganese and nickel assets on Friday, setting the stage for the formation of a separate business that could be worth at least $12 billion. BHP said its board was considering a spin-off at meetings ahead of its ...

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Shell sells shale gas rights for $2.1 billion


HOUSTON (AP) — Royal Dutch Shell says it has agreed to sell drilling rights in shale formations in Louisiana and Wyoming for $2.1 billion in two transactions. Shell also said Thursday that it will also receive drilling rights to land in Ohio and Pennsylvania. Shell is working to focus its onshore U.S. drilling program on a few of the more ...

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Valero Energy Partners’ profit rises

Vicki Vaughan | The San Antonio Express-News SAN ANTONIO — Valero Energy Partners boosted its net income by more than 5 percent in the second quarter to $12.2 million compared with $11.6 million for the year-earlier period. “Our results for the second quarter were solid,” Chairman and CEO Joe Gorder said. The company increased its distribution to unit holders by ...

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Chevron donates $500,000 for endowed UTPB chair

Tessa Duvall | The Midland Reporter-Telegram, Texas The University of Texas of the Permian Basin’s young petroleum engineering program received a major gift on Friday. Chevron Area Manager Mitch Mamoulides announced at the Wagner Noel Performing Arts Center the donation of $500,000 to create an endowed chair of petroleum engineering at UTPB. Chevron also donated $64,900 for scholarships at UTPB to ...

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Kinder Morgan to combine its family of companies

Jonathan Fahey | The Associated Press NEW YORK — The group of oil and gas pipeline and storage companies controlled by Kinder Morgan but traded separately will combine and become the 4th biggest U.S. energy company by market value. The companies announced Sunday that Kinder Morgan Inc., Kinder Morgan Energy Partners, Kinder Morgan Management and El Paso Pipeline Partners will ...

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