Finance - News

Kinder Morgan's Revenue Drops 6.8%

Kinder Morgan Inc. reported a 6.8% drop in quarterly revenue as its pipelines moved lower volumes of oil and gas. The Houston-based company's revenue fell to $3.39 billion from $3.64 billion, Reuters said.


AltaGas Says In Potential Deal Talks

AltaGas did not name the company, but the Wall Street Journal, citing people familiar with the matter, said the firm was is in talks to merge with WGL Holdings, the parent of natural-gas utility Washington Gas.


Energy Investment Leader Ken Pontarelli Will Retire From Goldman Sachs

A bank spokesman confirmed the contents of the memo on Jan. 11. Ken Pontarelli is the latest senior departure at Goldman Sach's merchant bank, which is led by longtime partner Richard Friedman, Reuters reported. 


Tokyo Commodity Exchange Opens Physical Oil Market

On Jan. 11, the Tokyo Commodity Exchange (TOCOM) opened a physical market for oil products including gasoline and kerosene, the first such contracts by a Japanese exchange, Reuters reported.


Blackstone Ends Talks For $5 Billion Energy Transfer Stake

In December, private-equity firm Blackstone was said to be looking at a stake in Energy Transfer, the company building the controversial Dakota Access pipeline.


Federal Reserve's Proposed Energy Hedging Requirement Is Criticized

Banks would have to hold roughly $1 in capital for every $1 of energy infrastructure they owned, which would lead to them having to offer roughly $4 billion in fresh capital, Reuters reported.


Buckeye Partners Closes $1.15 Billion Acquisition Of VTTI Marine Terminal Business

Buckeye Partners LP completed its $1.15 billion purchase of a 50% equity interest in VTTI BV’s global marine terminal business, which will be owned jointly with Vitol.


DCP Midstream Partners Acquires Phillips-Spectra JV Assets

The combined company, which has an enterprise value of $11 billion, will be renamed DCP Midstream LP and will trade with the ticker symbol "DCP" on the New York Stock Exchange.


Sendero Midstream Receives Funding To Construct Delaware Basin Gas System

The system near Carlsbad in Eddy County, N.M., will have low- and high-pressure gas gathering pipelines, a 130 million cubic feet per day cryogenic processing plant and an NGL takeaway pipeline.


Southcross Energy Partners Amends Revolving Credit Facility

The amendment also provides for a new $15 million commitment from certain of the parent’s shareholders in the form of equity or debt by Dec. 31, 2017.


Tallgrass Terminals, Tallgrass NatGas Operator Acquired For $140 Million

This is TEP’s fifth dropdown acquisition from Tallgrass Development. It was funded at closing through borrowings on TEP’s revolving credit facility.


Petrobras Misses Two-Year Asset Sales Target By $1.5 Billion

Petrobras said its 2017-2018 asset sale target would be automatically raised to $21 billion to compensate for the shortfall, Reuters reported.