News Archive
Houston midstream energy giant to buy another local co. for $3.25B
January 9, 2023 - Enterprise Products Partners LP (NYSE: EPD), one of the largest publicly traded companies in the Houston area, will acquire another local midstream energy company for $3.25 billion in cash.The acquisition of The Woodlands-based Navitas Midstream Partners Holdings LLC is expected to close in the first quarter, the companies said Jan. 10....
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Riceland to maintain Texas small town feel, developer says
January 5, 2023 - If you have ever driven through a small town in Texas, you might conjure up memories of a time when you knew everyone’s name, could walk from shop to shop or sit on a park bench and watch the sunset. That is what McGrath Real Estate Partners...
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Targa buying out Blackstone’s stake in pipeline system with $1.05B deal
January 2, 2023 - Targa Resources Corp. (NYSE: TRGP) is boosting its ownership stake in a natural gas liquids pipeline with a $1.05 billion deal.The Houston-based midstream company agreed to acquire a 25% interest in Targa's Grand Prix NGL Pipeline from Blackstone Energy Partners, which manages energy-focused private equity funds for New York-based Blackstone...
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Port Houston Posts Another Container Gain in November
December 18, 2022 - If U.S. imports are slowing, Port Houston has yet to get the memo.The U.S. Gulf Coast’s busiest port reported an 11% jump in container volumes in November, bucking a trend of year-over-year declines at other major U.S. ports.Port Houston’s Barbours Cut and...
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New era of plastic recycling begins in Baytown
December 16, 2022 - About 80 million pounds of plastic will be diverted away from landfills over the next year, thanks to a new unit in operation at ExxonMobil’s Baytown Complex—and that’s plastic that until recently was considered unrecyclable, according to the company.Dave Andrew, vice president of new...
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First hydrogen-powered truck in Texas hits Houston roads
December 13, 2022 - The first time Rodrigo Peña climbed into the Hyzon truck's cabin and eased his foot off the break, it wasn't the awe of being inside the first hydrogen-powered freight truck to be operated in Texas that struck him.It was the silence."I could hear rocks...
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Pennzoil-Quaker State acquires stake in lubricant recycling co. Blue Tide Environmental
December 4, 2022 - A local Shell PLC subsidiary has acquired a significant stake in a North Texas company building a lubricant recycling project east of Houston.Houston-based motor oil giant Pennzoil-Quaker State Co., which is owned by London-based major Shell PLC (NYSE: SHEL), acquired a 49% equity interest in Plano-based Blue Tide Environmental, the...
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Year in Review: Chevron buying Renewable Energy Group for $3.15B was a Deal of the Week
December 1, 2022 - Through the end of December, we're taking a look back on the Deals of the Week from 2022. This was the Deal of the Week for the Houston Business Journal's March 4-10 edition.The deal closed in June.Since the Chevron deal was announced, at least two other energy...
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City of Baytown and ExxonMobil reach Chapter 212 agreement
November 22, 2022 - The City of Baytown and ExxonMobil have announced a new 35-year agreement that will continue to strengthen the long-standing relationship between community and industry while promoting innovation into the future.Representatives from the city and ExxonMobil have finalized a Chapter 212 agreement that will keep jobs in Baytown and potentially...
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Regulators give green light to Enterprise Products Partners’ oil port off Surfside Beach
November 21, 2022 - A new kind of oil export terminal could soon float in the Gulf of Mexico near Freeport after federal regulators gave a green light to the project.The federal Maritime Administration made a determination Monday regarding a license for the deepwater Sea Port Oil Terminal, or SPOT,...
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