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BP to Sell Petrochemicals Business to Ineos for $5 Billion
July 1, 2020
BP has agreed to sell its global petrochemicals business to UK chemicals giant Ineos for $5 billion, as it continues its efforts to streamline the company and bolster its balance sheet. Under the leadership of its new Chief Executive Bernard
Chesapeake Energy Files for Chapter 11 Bankruptcy
June 30, 2020
Chesapeake Energy Corporation has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas to facilitate a comprehensive balance sheet restructuring. Chesapeake intends to use the proceedings to strengthen its balance sheet and
Black Bear Transmission to Acquire Natural Gas Transmission’s Assets
June 30, 2020
Black Bear Transmission’s affiliate has entered into a definitive agreement to acquire a portfolio of Natural Gas Transmission assets from a subsidiary of Third Coast Midstream. Black Bear is a portfolio company of the second Basalt fund. The NGT Assets
Enbridge Responds to Temporary Ruling on Line 5 Operations
June 30, 2020
The Michigan Circuit Court issued a temporary restraining order requiring Enbridge to shut down Line 5 through the Straits of Mackinac within 24 hours until a hearing on the state’s request for preliminary injunction can be held Tuesday, June 30,
BLM Moves Expand Oil and Gas Leasing Acreage in Alaska
June 29, 2020
A federal agency on Thursday released a final management plan for the National Petroleum Reserve-Alaska, proposing to make 7 million additional acres of land on the North Slope open to potential oil and gas development. Conservation groups decried the move,
Biden Signals Willingness to Use ‘Unfettered Discretion’ to Reject Pipelines
June 29, 2020
Joe Biden is signaling he would make it difficult for developers to obtain federal permits to build fossil fuel infrastructure such as pipelines and liquefied natural gas export facilities, delivering on a key priority of environmental groups. “There is virtually
EQT Awards More than $500,000 in Grants to Nonprofit Organizations
June 29, 2020
The EQT Foundation recently announced it has awarded more than $500,000 in grants to nonprofit organizations and programs in southwestern Pennsylvania, eastern Ohio, and northern West Virginia. EQT Corporation, the nation’s largest natural gas producer, established the foundation in 2003
Michels Canada Awarded Contract for $8 Billion Keystone XL Pipeline Project
June 26, 2020
North American energy infrastructure company TC Energy has awarded a contract to Michels Canada to construct approximately 260km of the $8 billion Keystone XL Pipeline Project in Alberta, Canada. The 1,897km Keystone XL pipeline aims to supply crude from the
Senators Cramer and Cornyn Introduce Save American Vital Energy Jobs Act Bill
June 26, 2020
U.S. Senator Kevin Cramer (R-ND), a Senate Environment and Public Works (EPW) Committee member, joined Senator John Cornyn (R-TX) in introducing S. 4041, the Save American Vital Energy (SAVE) Jobs Act, a bill to provide relief for America’s energy industry.
Braskem Completes Construction of Polypropylene Production Facility, Texas
June 26, 2020
Braskem, a producer of polyolefins and biopolymers, announced the completion of its new polypropylene production facility located in La Porte, Texas. Claimed to be the first new polypropylene facility built in North America since 2003, it has been designed to
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