The Williams Companies and Williams Partners announced an agreement on Monday to sell their Canadian businesses to Calgary-based Inter Pipeline for over $1 billion. The sale includes extraction and processing facilities in the Alberta oil sands as well as nearly 260 miles of pipelines. Inter Pipeline’s purchase will allow the company to expand its natural …
August 9, 2016 archive
New Pipeline Will Carry Sweet Crude Oil from Cushing to Memphis
International pipe manufacturer Welspun Tubular and Diamond Pipeline LLC announced on Monday that Welspun received a $47 million order to assist with construction of a 440-mile 20-inch pipeline that will carry domestic sweet crude from the Cushing, Oklahoma storage facility to Valero’s refinery located in Memphis, Tennessee. The $900 million Diamond Pipeline will be capable …
News of September OPEC Meeting Sends Oil Futures Soaring on Monday
Oil futures jumped on Monday as OPEC announced it will meet at the 15th International Energy Forum in Algeria next month in order to discuss how to bring stability to the volatile crude oil market, according to Bloomberg MarketWatch. September West Texas Intermediate crude rose $1.22, or 2.9%, to settle at $43.02 a barrel on …
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