News

North Carolina-based utility company Duke Energy has completed its acquisition of Piedmont Natural Gas. The deal is worth approximately $4.9 billion in cash and assumption of approximately $1.8 billion in Piedmont existing net debt, representing total enterprise value of approximately $6.7 billion. Piedmont will retain its name and operate as a business unit of Duke Energy. Both companies are headquartered in Charlotte. The acquisition will add Piedmont

The U.S. government ordered Colonial Pipeline Co. to shut down a section of its Line No. 1 near Helena, Alabama, after a gasoline leak was detected there on Sept. 9. The Pipeline and Hazardous Materials Safety Administration (PHMSA) issued a corrective action order Sept. 16 that also required the company to devise a restart plan for the agency

The federal government on Friday temporarily blocked construction on part of a North Dakota oil pipeline, an unusual intervention in a prairie battle that has drawn thousands of Native Americans and activists to camp and demonstrate. In announcing the pause, the government acknowledged complaints from the Standing Rock Sioux and other tribal nations that their concerns had not been fully heard before federal overseers approved a pipeline that the tribe said could damage their water supplies and ancestral cultural ...

Canada

Enbridge Inc, Canada’s largest pipeline company, said it will withdraw its regulatory applications pending with the Minnesota Public Utilities Commission for the Sandpiper Pipeline Project.

The long-planned and often-delayed Sandpiper pipeline project will be put on hold until crude oil production in North Dakota recovers sufficiently to support the pipeline’s capacity, Enbridge said on Thursday in a statement.

This comes against ...