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Tag Archives: morgan stanley

As coal demand drops, so do funding sources

Bill Rau deals in rubies and Rembrandts, and if you told him a year ago he’d be traveling to England to buy an old lump of coal, he would have called you crazy. Then he saw it — a “monumental specimen” excavated from an Italian mine in the 1890s. “I had to buy it,” he thought. “This is a museum ...

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EQT attracts offers for Dutch oil storage firm Koole – sources

LONDON/FRANKFURT – Swedish buyout group EQT has received offers for its Dutch oil storage group Koole Terminals valuing the business at more than 1 billion euros ($1.1 bln), several people familiar with the deal said. The investor last week collected more than 10 tentative bids, mainly from infrastructure investors, and will now pick several groups to submit final bids, the ...

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Oil futures crash no help to sellers of the real thing

LONDON/MOSCOW – When oil futures markets crash – as they have this summer – physical markets often move the other way as refiners jump on the opportunity offered by cheap oil to stockpile. With futures prices now hovering around six and a half year lows, the physical market would typically begin to strengthen and signal a potential rebound in futures ...

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Energy Transfer bidding for Magnum Hunter stake in pipeline unit – Bloomberg

Pipeline company Energy Transfer Equity LP is bidding for Magnum Hunter Resources Corp’s stake in natural gas gathering unit Eureka Hunter Holdings, Bloomberg reported, citing people familiar with the matter. Oil and natural gas producer Magnum Hunter, which has been struggling with weak natural gas prices, said in June that it expected to raise $600 million-$700 million by selling its ...

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Morgan Stanley benefits from Eureka Hunter sale

Earlier this week, Magnum Hunter Resources Corp. shared it will be selling its interests in its Eureka Hunter pipeline system to help battle the industry’s downward spiral. Well, Magnum Hunter isn’t the only company that will be benefiting from the sale. Magnum Hunter’s partner Morgan Stanley, who owns 53 percent of the pipeline system, will also see some impact come ...

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To sell or not to sell? TECO isn’t sure

As a rule of thumb, TECO Energy avoids confirming or denying speculations surrounding their business. The company, however, broke its silence last week after several news reports hypothesized on the rumored sale of the company. TECO announced Thursday that Morgan Stanley has assisted the company in its exploration of “strategic alternatives,” but has not yet determined whether or not to ...

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Morgan Stanley renews U.S. oil storage deal ahead of trading unit sale

NEW YORK – Morgan Stanley’s commodities group has renewed a refined product storage deal with TransMontaigne Partners L.P. seven months early, as the Wall Street bank plans to sell its physical oil business. In a statement on Wednesday, TransMontaigne said Morgan Stanley Capital Group extended its lease agreements for about 2.7 million barrels of refined product storage in Mississippi. The ...

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Lower oil prices may spur Gulf economies to diversify

JEDDAH — If we exclude the global financial crisis, oil prices are now at their lowest level in a decade, roughly 50 percent below last year’s peak of $115. Oil-exporting countries are facing significant headwinds, but the strength of the headwinds vary substantially among them. The cost of producing a barrel of oil diverges significantly between countries. The main reason ...

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