Shoring up its infrastructure reliability in the New York City boroughs of Brooklyn and Queens while also courting new customers, National Grid said Friday it will begin construction of the Brooklyn/Queens Interconnect project this week, which will be the first pipeline to be installed in the area in 50 years.
Courting
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NorthWestern Board Enters Confidentiality Pacts; Strategy Still Under Review
With active pursuers from the private and public sectors courting its favor, Sioux Falls, SD-based NorthWestern Corp.’s board Tuesday confirmed that it has entered confidentiality agreements with an unspecified “select number” of suitors. In a terse status report to shareholders, the board confirmed that its assessment of all of its “strategic options,” including the two outstanding public offers, is still incomplete and it needs what it called “formal due diligence.”
Phillips CEO: Our Company will Stay Independent
Wild speculation last week that Chevron was courting PhillipsPetroleum proved to be false as Phillips management told analyststhe company is not interested in merging with anybody. But theBartlesville, OK-based energy company is planning on selling GPMGas Corp., its natural-gas gathering, processing and marketingsubsidiary, and may form joint ventures with other companies onchemicals and refining and marketing so that it can concentratemainly on exploration and production.
Phillips to Stay Independent But Wants to Sell GPM
Wild speculation last week that Chevron was courting Phillips Petroleum proved to be false as Phillips management told analysts the company is not interested in marriage. The Bartlesville, OK-based major producer is, however, interested in selling GPM Gas Corp., its natural-gas gathering, processing and marketing subsidiary, and may form joint ventures with other companies on chemicals and refining and marketing so that it can concentrate mainly on exploration and production.