US energy company EQT settles lawsuit for $167.5 Million
According to a filing made by plaintiffs in federal court on Thursday, U.S. Energy Company EQT has agreed to pay $167.5 Million to settle a lawsuit brought by investors who alleged that EQT had overstated its benefits from its $6.7 Billion merger with Rice Energy. Officials from EQT did not respond to a request for comment immediately. The case includes the Eastern Atlantic States Carpenters Annuity Fund (the plaintiff), the Eastern Atlantic States Carpenters Pension Fund (the defendant) and the Cambridge Retirement System.
Eni CEO: Oil markets do not expect closure of the Hormuz Strait
Eni's CEO, Eni of Italy, said that oil markets were signaling an unlikely escalation of tensions between Israel and Iran or the closing of the Strait of Hormuz. The Strait of Oman, located between Oman and Iran, connects the Gulf of Oman in the north with the Gulf of Oman in the south. It also links the Arabian Sea to the east. Claudio Descalzi, Eni, said at an energy conference that the markets had not yet pushed crude oil prices above $80 or $90 per barrel…
Canada's TC energy erases $199 Million damages in Delaware appeal against Columbia takeover
Delaware's top court on Tuesday overturned a judge’s order requiring Canadian pipe-line operator TC Energy, which purchased Columbia Pipeline Group for $13 billion in 2016, to pay damages of $199.2 millions. Columbia shareholders brought the case against TC Energy, claiming that it was responsible for lowering the takeover price from $26 to $25.50. This allowed former Columbia Chief Executive Robert Skaggs to collect large payments to change control known as golden parachute.
Canada's TC energy erases $199 Million damages in Delaware appeal against Columbia takeover
Delaware's top court on Tuesday overturned a judge’s order requiring Canadian pipe-line operator TC Energy, which purchased Columbia Pipeline Group for $13 billion in 2016, to pay damages of $199.2 millions. Columbia shareholders brought the case against TC Energy, claiming that it was responsible for lowering the takeover price from $26 to $25.50. This allowed former Columbia Chief Executive Robert Skaggs to collect large payments to change control known as golden parachute.
Keyera acquires Plains' Canadian Natural Gas Liquids business for $3.77 Billion
Keyera Corp announced on Tuesday that it had agreed to purchase substantially all of Plains Canada's Canadian natural gas liquids businesses for C$5,15 billion ($3,77 billion) cash. The Canadian-based pipeline operator stated that the purchase expands Keyera’s position by bringing a natural gas liquids (NGL) corridor from Western Canada to Eastern Canada under Canadian ownership and brings key NGL infrastructure. Keyera, a Canadian energy infrastructure company…
Keyera acquires Plains' Canadian Natural Gas Liquids business for $3.77 Billion
Keyera Corp announced on Tuesday that it had agreed to purchase substantially all of Plains Canada's Canadian natural gas liquids businesses for C$5,15 billion ($3,77 billion) cash. The Canadian-based pipeline operator stated that the purchase expands Keyera’s position by bringing a natural gas liquids (NGL) corridor from Western Canada to Eastern Canada under Canadian ownership and brings key NGL infrastructure. Keyera, a Canadian energy infrastructure company…
As tensions in the Middle East rise, traders are betting on oil at $80 US dollars.
The most West Texas Intermediate crude oil call options of $80 have been traded since January. Traders expect prices to rise further after Israeli airstrikes against Iran raised fears about a wider Middle East war. Call options give the holder the right to purchase a futures contract for the price and date specified. A rise in volume can be used to gauge the market sentiment. CME Group data shows that on Friday, 33,411 contracts worth $80 for WTI crude oil call options expiring in August 2025 were traded.
As tensions in the Middle East rise, traders are betting on oil at $80 US dollars.
The most West Texas Intermediate crude oil call options of $80 have been traded since January. Traders expect prices to rise further after Israeli airstrikes against Iran raised fears about a wider Middle East war. Call options give the holder the right to purchase a futures contract for the price and date specified. A rise in volume can be used to gauge the market sentiment. CME Group data shows that on Friday, 33,411 contracts worth $80 for WTI crude oil call options expiring in August 2025 were traded.
Wind opponents sue Trump Administration to block New York wind projects
Fishing companies, as well as offshore wind opponents, filed a suit on Tuesday to challenge the Trump administration’s decision to reverse its course and allow construction on Empire Wind to resume. Empire Wind is a $5 billion project for a wind farm off New York’s coast. Protect Our Coast New Jersey and Clean Ocean Action along with ACK for Whales, 12 fishing industry participants, filed a lawsuit in Trenton federal court, New Jersey to reinstate a stop-work order Interior Secretary Doug Burgum had issued in April…
Wind opponents sue Trump Administration to block New York wind projects
Fishing companies, as well as offshore wind opponents, filed a suit on Tuesday to challenge the Trump administration’s decision to reverse its course and allow construction on Empire Wind to resume. Empire Wind is a $5 billion project for a wind farm off New York’s coast. Protect Our Coast New Jersey and Clean Ocean Action along with ACK for Whales, 12 fishing industry participants, filed a lawsuit in Trenton federal court, New Jersey to reinstate a stop-work order Interior Secretary Doug Burgum had issued in April…
