Tag: energy

  • TC Energy intends to spin-off Pipelines business into separate company

    TC Energy intends to spin-off Pipelines business into separate company

    TC Energy, a company that develops and operates energy infrastructure, announced that it plans to spin off its Liquids Pipelines business into a separate company. The decision was made after a two-year strategic review and is expected to be completed in the second half of 2024. The spinoff will create two independent, investment-grade, publicly listed…

  • UGI (UGI) announces review of strategic alternatives

    UGI (UGI) announces review of strategic alternatives

    UGI Corporation Announces Review of Strategic Alternatives UGI may be considering spinning off its propane operation. Its propane business is about 40% of its earnings and this effort looks to reduce its earnings volatility and strengthen its balance sheet. UGI Investor Update Slide Deck Simply Safe Dividends issued a note on the news ($$). UGI…

  • Chevron waves retirement age policy for CEO Wirth

    Chevron waves retirement age policy for CEO Wirth

    Chevron’s CVX 2.23%increase; green up pointing triangle board of directors is waiving the company’s fixed retirement age for Chief Executive Mike Wirth, allowing him to remain CEO for a longer period as it weighs its C-suite strategy. The Wall Street Journal had reported in February that Chevron’s board was considering the move. Some directors have said the company doesn’t have…

  • Enterprise Products Partners (EPD) increases dividend by 2%, it’s 25th year of annual growth

    Enterprise Products Partners (EPD) increases dividend by 2%, it’s 25th year of annual growth

    Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) announced today that the board of directors of its general partner declared a quarterly cash distribution to be paid to Enterprise common unitholders with respect to the second quarter of 2023 of $0.50 per unit, or $2.00 per unit on an annualized basis. This quarterly distribution will be paid August 14, 2023, to common…

  • Exxon Chevron explore deal; reject ESG

    Exxon Chevron explore deal; reject ESG

    Exxon and Chevron to Drill for Gas in Algeria Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX), the two largest U.S. oil and gas companies, are close to signing deals with Algeria’s state-owned energy company Sonatrach to drill for natural gas in the North African country, The Wall Street Journal reported on Friday . The…

  • Oneok to Buy Magellan Midstream for $14 Billion, Creating U.S. Energy Giant

    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…