HOUSTON---- Enterprise Products Partners L.P. today announced that A.J.“ Jim” Teague, chief executive officer of its general partner, was named executive of the year at the Midstream Business Excellence Awards presented recently in San Antonio, Texas. Teague was elected chief executive officer of Enterprise’ s general partner effective January 1, 2016.
The billionaire chairman of Icahn Enterprises reduced his stake in the company to about 1.5 percent.
TORONTO, Sept 28- Canada's main stock index rose more than one percent on Wednesday as energy stocks soared on a deal by major oil producers to limit output, while the financials and materials groups also gained ground. The OPEC news got investors excited as it will tighten up supply in the oil market, said Manash Goswami, portfolio manager at First Asset...
NEW YORK— Energy companies powered to big gains Wednesday, leading the broader stock market higher, as the price of crude oil surged on news of a deal among OPEC nations to cut production. The Dow Jones industrial average gained 110.94 points, or 0.6 percent, to 18,339.24. The Standard& Poor's 500 index climbed 11.44 points, or 0.5 percent, to 2,171.37.
DALLAS, Sept. 28, 2016/ PRNewswire/-- Global middle-market investment bank Capital Alliance Corp. forecasts an improving oil& gas industry, with increased merger-and-acquisition activity through the end of the year and into next year, if the price of oil is at or above $50. "The Fed's findings track what we are seeing here at Capital Alliance Corp.," said Paul Puri,...
ALGIERS, Algeria— OPEC nations reach preliminary accord to curb oil production to boost prices; 1st time in 8 years.
OPEC says to limit output to 32.5 mln bpd. *After reaching group target, OPEC will seek non-member support. NEW YORK, Sept 28- Oil prices settled up nearly 6 percent on Wednesday after OPEC struck a deal to limit crude output at its policy meeting in November, its first agreement to cut production since 2008 and after the market crashed on oversupply.
*OPEC will limit output at 32.5-33.0 million bpd. *To seek non- OPEC support once output reduced. ALGIERS, Sept 28- OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.
A reported agreement by OPEC to work toward a production cut could put a floor under oil and points to the strain low crude prices have had on producers, including the largest exporter, Saudi Arabia.
Norway, although not an OPEC member, is a major crude producer. Crude oil prices jumped after sources told Reuters that OPEC agreed to reduce its oil output by about 750,000 barrels per day. Country-by-country production is to be decided at the next formal OPEC meeting in November, when an invitation to join cuts could also be extended to non- OPEC countries such as...