Elliott

Democrat Willie L. Phillips, who joined FERC in late 2021, on Tuesday was named by President Biden to take over as acting chairman with Richard Glick’s departure. Phillips is taking the reins of the Federal Energy Regulatory Commission, which now is split with two Democrats and two Republicans. The Senate failed to advance the renomination…

Natural gas futures plummeted on Wednesday as weather models indicated that the warmer pattern that emerged following Winter Storm Elliott may stick around a bit longer than earlier projected. Though supply remains suppressed because of freeze-offs, the January Nymex gas futures contract rolled off the board 57.3 cents lower day/day at $4.709/MMBtu. The February contract,…

Federal energy regulators on Wednesday launched an inquiry into bulk power systems operations during the extreme weather conditions during Winter Storm Elliott.  FERC, the North American Electric Reliability Corporation (NERC) and NERC’s regional entities said the joint inquiry would review the “severe cold weather” last weekend that “contributed to power outages affecting millions of electricity…

Marathon Petroleum Corp. Chairman and CEO Gary Heminger, 66, plans to step down in 2020 after more than eight years at the helm to assuage the concerns of activist investors.

Activist hedge fund Elliott Management Corp., whose funds collectively own about 2.5% of Marathon Petroleum Corp. (MPC), is pushing the Findlay, OH-based operator to separate its midstream, refining and convenience store businesses to unlock more value.

The U.S. Senate confirmed Howard “Skip” Elliott to serve as administrator of the Pipeline and Hazardous Materials Safety Administration (PHMSA) Thursday, but a motion to confirm Kevin McIntyre and Richard Glick to FERC was set aside after one senator objected.

BHP Billiton should jettison its U.S. petroleum business (offshore and on), which is undervalued by the market, does not contribute value to the company and does not mesh with BHP’s traditional mining operations, an activist shareholder said Monday in a letter to company directors.

The combination of oilfield technology advances and the accelerated investment interest in the Permian Basin has breathed new life into southeastern New Mexico, an Occidental Petroleum Corp. (Oxy) senior executive said Tuesday.

The rupture of a 12-inch DCP Midstream pipeline Friday night in Jackson County, LA, resulted in no injuries and was under control soon after, according to a report filed with the U.S. National Response Center.