Tag: energy
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Oneok to Buy Magellan Midstream for $14 Billion, Creating U.S. Energy Giant
Oneok, a large U.S. energy company, announced on Sunday that it would buy Magellan Midstream Partners, a smaller rival that owns pipelines and storage facilities for refined products, for $14 billion. The deal, which includes cash and equity, would create one of the biggest U.S. energy transporters and storers, with a combined market value of […]
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Pembina Pipeline (PBA) declares 2.3% dividend increase
Pembina Pipeline (NYSE:PBA) declares CAD 0.6675/share quarterly dividend, 2.3% increase from prior dividend of CAD 0.6525. Seeking Alpha
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Exxon & Chevron post strong profits
The Western world’s largest oil companies rocketed to record earnings last year as energy prices soared following Russia’s invasion of Ukraine. This year, investors fear an economic slowdown could suppress energy prices, while rising supply-chain costs have steadied at high levels. This suggests Exxon and Chevron’s cash gusher peaked last year, investors said. The oil giants still pocketed hefty […]
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Sonoco announces its 40th consecutive dividend increase of 4%
The Board of Directors of Sonoco (NYSE: SON) today increased its quarterly common stock dividend by approximately 4 percent to $0.51 per share from the previous quarterly distribution of $0.49 per share. This new dividend will be paid on June 9, 2023, to shareholders of record as of May 10, 2023. With this increase, Sonoco’s annualized dividend payout moves to $2.04 per share from $1.96 per […]
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Exxon in talks to buy Pioneer Natural Resources
Discussions between the two companies about a potential deal have been informal, the people said. But after posting record profits in 2022, Exxon is flush with cash and, according to people familiar with the company’s plans, has been exploring options that could reshape a swath of the U.S. oil and gas industry while pushing Exxon deeper […]
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After five years of exploration Exxon (XOM) abandons drilling off the coast of Brazil
After failing for the third time to find commercially viable amounts of crude there last year, the Texas oil giant has shifted geologists and engineers from working on the offshore acreage it began snapping up with partners for $4 billion in 2017 to other countries, including Guyana, Angola and Canada, these people said. Exxon hasn’t […]