Congress Approves Debt Ceiling, Keeps Pipeline Legislation Intact
Oil prices rose amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington,...
Oil prices rose amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington, while markets weighed the likelihood of price-supportive OPEC+ production cuts over the weekend. Amendments to strike language expediting the Mountain Valley Pipeline from the legislation failed, the Washington Post reported on June 1.
Kinder Morgan to Add Storage Capacity on Texas System
Kinder Morgan Inc. plans to expand the working gas storage capacity at its Markham storage facility in...
Kinder Morgan Inc. plans to expand the working gas storage capacity at its Markham storage facility in Matagorda County along the Texas Gulf Coast, the company said in a May 31 news release. Commercial in-service for the project is slated for January 2024
KMI reached an agreement with a Texas Brine Co. LLC subsidiary, Underground Services Markham LLC, to lease an additional cavern at Markham to provide more than 6 Bcf of incremental working gas storage capacity and 650 MMcf/d of incremental withdrawal capacity on KMI’s Texas intrastate pipeline system.
The labor market continued to show resilience in May, adding many more jobs than expected, despite efforts...
The labor market continued to show resilience in May, adding many more jobs than expected, despite efforts by the Federal Reserve to cool the economy.
U.S. employers added 339,000 jobs on a seasonally adjusted basis, the Labor Department said on Friday, an increase from a revised total of 294,000 in April.
Superior Plus Closes $780 Million Acquisition of Certarus
Superior Plus Corp. completed its previously announced CA$1.05 billion (US$780 million) acquisition...
Superior Plus Corp. completed its previously announced CA$1.05 billion (US$780 million) acquisition of Certarus Ltd., announced in a May 31 press release.
The transaction is expected to drive double-digit accretion to 2023 adjusted operating cash flow per share, according to the press release, and reaffirms Superior’s 2023 pro forma adjusted EBITDA guidance range of $620 million to $660 million, which includes Certarus’ expected 2023 adjusted EBITDA of $175 million to $185 million.
Benchmark U.S. crude oil for July delivery rose $2.01 to $70.10 a barrel Thursday. Brent crude for August delivery rose $1.68 to $74.28 a barrel.
Wholesale gasolinefor July delivery was unchanged at $2.44 a gallon. July heating oil rose 6 cents to $2.31 a gallon. July natural gasfell 11 cents to $2.16 per 1,000 cubic feet.
