Marathon Creates Top U.S. Refiner with Andeavor Acquisition
Marathon paying $152/share to create biggest independent refiner; Andeavor assets include pipelines, refineries, gas stations. Marathon Petroleum Corp said on Monday it would buy rival Andeavor for more than $23 billion, forming a company that would leapfrog Valero Energy Corp as the largest independent U.S. refiner by capacity. Shale oil fields have pushed U.S. crude production to record highs and industry experts argue operations that have capacity to refine light crude like Andeavor will be better positioned to take advantage of the boom.
Glencore to Start Importing Fuel for Mexico in February
Trading firm Glencore expects to start importing fuel for Mexico's domestic market in February 2018 through its own terminal in the southern state of Tabasco, the head of the firm's oil division, Alex Beard, said on Thursday. "As soon as we have an opportunity to import through our own infrastructure in Tabasco, we will," Beard said at the inauguration of the first gas station branded under the franchise G500, created from a distribution partnership by Glencore and Corporacion G500, signed in May.
Green Groups Ponder Hillary Clinton's Oil Ties
Hillary Clinton's connections to oil and gas interests has created a dilemma for some environmental groups, troubling activists for whom she would be the natural candidate to support for president. The presumptive Democratic presidential candidate's environmental record has come under renewed scrutiny after the Wall Street Journal reported that the Bill, Hillary and Chelsea Clinton Foundation and the Clinton Global Initiative have accepted large donations from major energy companies Exxon Mobil and Chevron.
Cameron Warns of Economic Threat from Scottish Breakaway
British Prime Minister David Cameron told Scots on Thursday that much of their industry and more than one million jobs could be put in jeopardy if they vote next month to leave the United Kingdom. In a high-stakes gamble three weeks before a referendum, Cameron travelled to Glasgow to spell out the risks of secession, having previously remained largely on the sidelines of the debate due to both his and his Conservative party's limited appeal in Scotland.
