Phillips 66 Buys EPIC's Permian NGL Midstream Assets for $2.2B
Phillips 66 (PSX) has entered into a definitive agreement to buy EPIC...
Phillips 66 (PSX) has entered into a definitive agreement to buy EPIC Y-Grade GP LLC and EPIC Y-Grade LP, which own various subsidiaries and long haul NGL pipelines, fractionation facilities and distribution systems, for $2.2 billion cash.
Phillips 66 said EPIC’s NGL business consists of two 170,000 bbl/d fractionators near Corpus Christi, Texas, approximately 350 miles of purity distribution pipelines. Phillips 66 is also buying EPIC’s 885-mile NGL pipeline. The line, with 175,000 bbl/d capacity, links production supplies in the Delaware and Midland basins and the Eagle Ford Shale to fractionation complexes and the Phillips 66 Sweeny Hub.
Snow fell across the Midwest and Mid-Atlantic yesterday, and came down...
Snow fell across the Midwest and Mid-Atlantic yesterday, and came down heavily on DC, making it hard for drivers and planes to get where they were going. Drivers were stranded on highways, and at least four people died in car accidents. Meanwhile, nearly 2,000 flights were cancelled as the storm raged on. More than 330,000 people were also left without power yesterday. The intense winter weather is expected to continue as a polar vortex rolls through.
Congress certified Trump’s election win. In what was...
Congress certified Trump’s election win. In what was probably an awkward day at the office for VP Kamala Harris, the former presidential candidate presided over Congress’s certification of her opponent Donald Trump’s win yesterday. The certification, which used to be a pretty staid part of the march toward Inauguration Day, was held under elevated national security levels this year in light of the riots that disrupted the certification of Joe Biden’s win on Jan. 6, 2021. Trump has vowed to pardon the rioters who stormed the Capitol—something Senate Majority Leader Chuck Schumer (D-NY) criticized before the certification.
The US reported its first confirmed human death from bird flu. The deceased was over age 65 with underlying medical conditions.
President Biden signed the Social Security Fairness Act, a bipartisan law that boosts benefits for millions of public sector workers.
Meta added UFC CEO Dana White and two other new members to its board of directors.
The Consumer Financial Protection Bureau accused a unit of Warren Buffett’s Berkshire Hathaway of ignoring signs that borrowers couldn’t afford the mortgages they needed to buy homes from a different Berkshire unit.
The Federal Reserve’s top banking regulator will step down from the role following speculation that President-elect Donald Trump wanted to replace him.
A former hairdresser for Fox Sports claims in a new lawsuit that Skip Bayless harassed her, including allegedly offering her $1.5 million for sex.
U.S. stocks end mostly higher, though Dow gives up gains in afternoon trading
U.S. stocks ended mostly higher on Monday, with tech...
U.S. stocks ended mostly higher on Monday, with tech stocks leading gains on resumed enthusiasm around artificial intelligence.
The Dow Jones Industrial Average fell 25.57 points or 0.1% to end at 42,706.56 on Monday, according to Dow Jones Market Data. The index is up 0.4% year to date, logging its best start over the first three trading days of a year since 2021, when it rose 0.7%.
The S&P 500 rose 32.91 points or 0.6% to finish at 5,975.38, sealing back-to-back gains. It is up 1.6% year to date, its best start to a year since 2018, when it rose 1.9%.
The Nasdaq Composite increased 243.30 points or 1.2% to close at 19,864.98, also booking back-to-back gains. The tech-heavy index is up 2.9% year to date, its best start to a year since 2009, when it rose 4.8%.
Breaking news: Prime Minister Justin Trudeau of Canada set to step down as party leader
Justin Trudeau, who has led the country for nearly a decade, is giving up leadership of the Liberal party....
Justin Trudeau, who has led the country for nearly a decade, is giving up leadership of the Liberal party. He said he would remain in both roles until his replacement has been chosen through a party election.
