OMERS Investments, the infrastructure investment and management arm of Canadian pension fund OMERS, has signed a deal to acquire 50% stake in BridgeTex crude oil pipeline from Plains All American Pipeline and Magellan Midstream Partners for $1.438 billion. The BridgeTex crude oil pipeline system in Texas transports 400,000 barrel-per-day (bpd) of crude oil sourced from […]
Canadian natural gas distribution company Enbridge has agreed to acquire 100% of its Houston-based master limited partnership (MLP) Spectra Energy Partners (SEP), by buying out 17% of stake which it previously didn’t own in the latter in an all stock-deal worth $3.3 billion. Spectra Energy Partners is among the largest MLPs in the US which […]
Energy acquisition news : Japanese energy company JERA has agreed to acquire a stake of 50% in three natural gas-fired thermal power plants in the US, with a combined capacity of 1,123MW, from private equity firm Starwood Energy Group Global for an undisclosed price. The three thermal power plants, collectively called as Compass Power Generation, […]
Solar industry news : Longroad Energy, a US renewable energy developer has sold the 250MW Phoebe Solar Project in Texas to Canadian renewable company Innergex Renewable Energy. Phoebe Solar Project Cost | Phoebe Solar Project Construction Details While the financial terms of the sale were undisclosed, the new Texas solar project is to be constructed with […]
Energy Acquisition News : US private equity firm Advent International has struck a $3.25 billion deal to acquire Distributed Power – the gas engines business of General Electric (GE). Distributed Power is a provider of reciprocating gas engines, power equipment and services, focused on electricity generation and gas compression. Russell Stokes – President and CEO […]
Energy acquisition news : Abu Dhabi-based Mubadala Petroleum has forayed into the Shorouk Block, an Egyptian offshore concession in the Mediterranean Sea by completing its acquisition of a stake of 10% for $930 million from Italian energy giant Eni. Through the deal, the Abu Dhabi state-owned Mubadala Investment Company subsidiary, will take part in the […]
Energy acquisition news : Canadian oil and gas producer Baytex Energy has agreed to acquire its rival Raging River Exploration in a deal worth CAD2.8 billion ($2.13 billion) to create a top oil-weighted producer with a total enterprise value of nearly CAD$5 billion ($3.78 billion). Baytex Acquisition of Raging River After the completion of the […]
Marathon Petroleum, a US petroleum refining company has signed an agreement to acquire its rival Andeavor for $23.3 billion. Marathon acquisition of Andeavor is anticipated to result in a leading US integrated energy company with a $90bn plus initial enterprise value. The enlarged Marathon Petroleum following the merger with Andeavor will be headquartered in Findlay, […]
Marathon Acquisition of Andeavor : US petroleum refining company Marathon Petroleum has agreed to acquire rival oil refining company Andeavor (formerly known as Tesoro) for $23.3 billion. Marathon Acquisition of Andeavor Marathon acquisition of Andeavor is expected to create a top US integrated energy company with an initial enterprise value of over $90 billion, and […]
Energy acquisition news : Royal Dutch Shell has made a $950 million deal to sell its Argentine downstream business to Brazilian biofuels producer and fuels distributor Raizen. The transaction comprises the Buenos Aires Refinery, nearly 645 retail stations, liquefied petroleum gas, aviation fuels, marine fuels, bitumen, chemicals and lubricants businesses, and also supply and distribution […]