Oil Giants Set Health Checks, Work-from-home Rules
Major energy companies in the United States imposed work-from-home rules for office staff and began health checks for remote or critical workers as coronavirus spread and threatened an industry reeling from falling demand and profits.BP, Exxon Mobil, Kinder Morgan, Motiva Enterprises and Royal Dutch Shell told most office staff to work from home starting Monday. Federal regulators on Friday were pressed by companies to ease work rules for pipeline operators and to limit visits to some sites. Shell and Chevron began health checks of workers and visitors at some key U.S.
Refiners: Cheap Gasoline Demand Will Grow
The largest U.S. independent refiners are bullish on domestic gasoline demand as super-cheap fuel and the lure of bigger vehicles entice more consumers. Valero Energy Corp and Phillips 66 both say they are in "max gasoline mode," pumping out as much as they can as a mild winter, economic uncertainty and a stinging slump in oil drilling squeezed U.S. diesel demand. They still see export demand growth for both gasoline and diesel, but at home expectations are for rising gasoline demand, despite concerns the U.S. economy could soften in 2016.
Japan, Mexico Sign Carbon Trade Deal
Japan and Mexico have signed a deal for Japanese companies to earn carbon credits by investing in technology to cut greenhouse gas emissions in Mexico - in Japan's 12th bilateral carbon agreement. The program, known as the Joint Crediting Mechanism (JCM), lets companies in Japan, the world's fifth-biggest greenhouse gas emitter, use lower-cost emission cuts abroad to help meet domestic targets. "The objective ... is to establish the basis through which the participants will promote the investment and the use of technologies…
Japan, Mexico Sign Carbon Trade Deal
Japan and Mexico have signed a deal for Japanese companies to earn carbon credits by investing in technology to cut greenhouse gas emissions in Mexico - in Japan's 12th bilateral carbon agreement. The program known as the Joint Crediting Mechanism (JCM), lets companies in Japan, the world's fifth-biggest greenhouse gas emitter, use lower-cost emission cuts abroad to help meet domestic targets. "The objective ... is to establish the basis through which the participants will promote the investment and the use of technologies…
Energy Transfer to Buy Gasoline Retailer for $1.8 bln
Expands Energy Transfer's retail business; Offers Susser shareholders $80.25 in cash, or 1.4506 units. Susser shares rise 14 pct before the bell. Pipeline company Energy Transfer Partners LP said it would buy Susser Holdings Corp in a cash-and-stock deal valued at $1.8 billion to expand its retail gasoline business to Texas, New Mexico and Oklahoma. Susser shareholders will have the option to receive either $80.25 in cash, or 1.4506 Energy Transfer common units, or a combination of both, for each share held. The cash offer represents a premium of 41 percent to Susser stock's Friday's close.
