Plants

Oil and natural gas facilities, power plants and other critical U.S. infrastructure face increasing risks from cyber threats, system vulnerabilities and the potential impact from the attacks, according to a report by the Government Accountability Office (GAO).

Oil and natural gas facilities, power plants and other critical U.S. infrastructure face increasing risks from cyber threats, system vulnerabilities and the potential impact from the attacks, according to a report by the Government Accountability Office (GAO).

More nuclear generation plants are the future of the electricity sector while natural gas should be concentrated on use as a vehicle fuel, according to Texas oilman T. Boone Pickens, 78, speaking in a wide-ranging question and answer session published in the April 30 Los Angeles Times. Now heavily into hedge fund investments more than oil patch plays, Pickens is the largest single investor in a natural gas supplier to heavy vehicle fleets of buses, trash trucks and airport shuttles called Clean Energy.

More nuclear generation plants are the future of the electricity sector and natural gas should be concentrated on use as a vehicle fuel, according to Texas oilman T. Boone Pickens, 78, speaking in a wide-ranging question and answer session published in Monday’s Los Angeles Times. Now heavily into hedge fund investments more than oil patch plays, Pickens is the largest single investor in a natural gas supplier to heavy vehicle fleets of buses, trash trucks and airport shuttles called Clean Energy.

DTE Energy is shaking up its nonutility operations in a major restructuring that could net the diversified energy company between $1-2 billion from the sale of power plants and oil and gas properties. The move would simplify DTE’s diversified earnings structure and redeploy cash to its core utility and growing midstream operations.

DTE Energy on Tuesday announced a major restructuring of its nonutility operations that includes the sale of about $1 billion in power plants and oil and gas production assets. The move will simplify its earnings structure and redeploy cash to its utility and growing midstream operations.

Record oil and natural gas prices trumped the serious damage inflicted to offshore Gulf of Mexico operations by hurricanes in the third quarter, with ExxonMobil Corp. reporting the highest-ever earnings in corporate history, up 75% from a year ago. Majors Royal Dutch Shell plc and ConocoPhillips, as well as super independents Burlington Resources Inc., Kerr-McGee Corp. and Marathon Oil Co., also were able to overcome extensive offshore hurricane damage to reap massive profits — but there were few production gains.

Enbridge Energy Partners agreed to sell 627 miles of gas gathering, 121 miles of intrastate pipeline and five gas treating plants in Texas and Oklahoma for $106 million to San Antonio-based TexStar Field Services LP. The sale is expected to close in the fourth quarter. The assets included 327 miles of gas gathering pipeline, 121 miles of transmission pipeline and a gas treating facility located in South Texas. Also included is a 300-mile northeastern Texas gas and products gathering system, the Eustace gas processing and treating plant and three other gas treating facilities.

Blackouts are expected to become more frequent worldwide as power plants age and investment dries up, according to a PricewaterhouseCoopers (PwC) survey of 119 investors and executives at utilities in 36 countries.