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Showing results for VALERO NATURAL GAS PARNERS, LP
...The fund, raised by the group’s Brookfield Infrastructure Partners arm, is the largest-ever dedicated to investing in assets such as airports, toll roads, pipelines and natural gas export plants....
...“He really led Shell’s work during his tenure as CEO on transitioning it across oil and gas, renewables, sustainable aviation and transportation.”...
...Among private equity groups, Carlyle has been one of the most resistant to pressure to exit its investments in oil and natural gas drillers....
CVR Energy has paid out $3.2bn in dividends to feared activist’s public investment vehicle
...A cost-cutting programme launched in 2019 had failed to achieve its goals, Elliott said, with a widening gap between its operating costs and that of rival Valero....
...But by hitching the company to Oneok, a fellow Oklahoma-based pipeline company that primarily ships natural gas and natural gas liquids, it would create a “more powerful growth engine” with more room to...
...Magellan’s pipes and storage tanks are heavily concentrated in oil, while Oneok’s assets carry more natural gas....
...Not the bit about GA being a home-run investment, which is true to date; the bit about selling PE funds to insurance clients....
...A consortium led by Macquarie also bought a 60 per cent stake this year in National Grid’s UK gas transmission business....
...Brookfield, Blackstone, Global Infrastructure Partners and I Squared have also invested in projects that export liquefied natural gas produced in the US, a business that has boomed as western European economies...
...It was backed by several deep-pocketed investors, including BlackRock, US oil refiner Valero Energy and Poet, a top US biofuel refiner....
...Gas pipeline giant Oneok in May announced an $18.8bn deal to buy oil-focused Magellan Midstream Partners, though the takeover has faced some pushback from big shareholders....
...He has been hailed as the architect of the US liquefied natural gas industry, a man whose brash vision reconfigured global energy markets and once made him the best-paid executive in America....
...Meanwhile, the nation’s gas engineers — many of whom are sole-traders in their fifties — are very busy installing gas boilers, which are more straightforward and for which there is still plenty of demand...
...In September, for example, it highlighted the expansion of investments into fossil fuels by KKR, including three liquefied natural gas projects, two of which it says have been cited for environmental violations...
...Valero Energy was a top performer, rising more than 4 per cent....
...But investors are questioning the commercial logic from Oneok in stepping out of its core natural gas transportation business to buy Magellan’s crude and refined fuels pipelines....
...Neptune produces about 135,000 boe/d, roughly three-quarters of which is natural gas. About 10 per cent of its production comes from UK waters....
...The deal comes as a cash-rich US oil and gas sector looks to pick up dealmaking after a lengthy dry spell....
...Oneok transports natural gas and its byproducts. Magellan moves crude oil and its derivatives. Oneok cannot use Magellan’s oil pipelines to tap new markets for its natural gas and vice versa....
...Valero, the world’s biggest independent refiner, dismissed concerns about market weakness during a recent earnings call....
...US natural gas prices have fallen nearly 80 per cent from their highs last year, largely because a warm winter has weakened demand for heat. Domestic US gas production also remains strong....
...Charif Souki, a pioneer of the US liquefied natural gas industry, has been ousted from project developer Tellurian and will receive a payout of more than $8mn....
...Morgan Stanley has boardroom links to the oil and gas industry too; director Rayford Wilkins Jr is a sitting board member of Texas-based oil refining company Valero Energy....
...It also controls large stakes in Swiss refiner Varo Energy and Spanish oil and gas company Cepsa....
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