PetroPulse’s Post

🚨 Big moves in the energy world 🚨 Phillips 66 is going all in—acquiring Cenovus Energy’s 50% stake in WRB Refining LP for $1.4B. That means full control of the Wood River (IL) and Borger (TX) refineries, and a serious boost of ~250,000 bpd to their refining capacity. This isn’t just a transaction—it’s a signal. Owning these assets outright lets Phillips 66 double down on integration, efficiency, and long-term positioning in the U.S. refining sector. $50M in projected synergies per year is nothing to shrug at either. As someone in logistics, I see moves like this ripple far beyond the refineries. More throughput = more demand for transport, more coordination across the value chain, and more opportunities for companies like ours to step up and keep energy moving. What do you think—smart consolidation play or a bigger bet on an industry that’s still in transition? hashtag#Phillips66 hashtag#Refining hashtag#OilandGas hashtag#EnergyLogistics hashtag#HeavyHaul

Phillips 66 to take full ownership of Wood River, Borger refineries Phillips 66 is set to acquire the remaining 50% stake in WRB Refining from Cenovus Energy for $1.4 billion, gaining full control of two major US refineries. Key Highlights Phillips 66 will pay $1.4 billion to acquire Cenovus's 50% stake in WRB Refining, ending a nearly 20-year joint venture. Full ownership of Wood River and Borger refineries will increase Phillips 66’s capacity by about 250,000 b/d, nearing 2.5 million b/d total. The company said the deal strengthens its integrated value chain, especially in the US Midwest and Southwest markets. https://lnkd.in/gmVrg6-4

Bracewell represented Phillips 66 in its definitive agreement to acquire the remaining 50 percent ownership interest in WRB Refining LP from subsidiaries of Cenovus Energy Inc. for total cash consideration of $1.4 billion, subject to customary purchase price adjustments. Learn more: https://lnkd.in/gG4yyHA7

In the traditional oil & gas industry, Phillips 66 (P66) announced it is adding to its refining capabilities and capacities by acquiring a remaining portion of WRB Refining. P66 previously had a limited ownership stake but is now acquiring the remaining portion to be able to have full control of two additional refineries, the Wood River refinery in Illinois and the Borger refinery in Texas. As assumption would be that this acquisition is a part of the refocusing of global energy companies on traditional sources of energy alongside the concurrent development of renewables. https://lnkd.in/gqwwf8hK

🇺🇲 Phillips 66 is set to acquire the remaining 50% stake in WRB Refining from Cenovus Energy for $1.4 billion, gaining full control of 2 major US refineries. Full ownership of Wood River and Borger refineries will increase Phillips 66's capacity by about 250,000 b/d, nearing 2.5 million b/d total. This acquisition will strengthens the integrated value chain and increase the flexibility in a key region. It will generate about $50 million in operational and commercial synergies. Source : Oil & Gas Journal #oilplant #oilproduction #oiltrading #commodities

OCCIDENTAL LOOKS FOR IMPROVEMENT Occidental CEO Says Chemical Divestiture Will Improve Core Oil, Gas Business - Learn More: https://hubs.la/Q03M4WHw0 Occidental Petroleum will be in a better position to invest in its core oil and gas business after divesting a chemicals unit and will be able to replace the lost cash flow from the division in about two and a half years, CEO Vicki Hollub said in an interview on Thursday. #oilandgascompanies #energy #oilgas #oilandgasindustry #occidental

Questerre (TSX:QEC) finalizes acquisition of PX Energy and steps into a 50/50 joint venture in Brazil — signaling a major push into oil shale production and refining. https://zurl.co/4ltVS #Questerre #OilAndGas #Brazil #JointVenture

Chord Energy is acquiring Williston Basin assets from Exxon Mobil subsidiary XTO Energy for $550 million. Houston-based Chord, formed through the 2022 merger of Whiting Petroleum and Oasis Petroleum, has focused on developing the Bakken play. Chord will finance the acquisition with cash on hand and borrowings, the company said Sept. 15. The deal includes 48,000 net acres (86% operated working interest) in the Williston Basin core and 72 net operated 2-mile locations. “The acquired assets are in one of the best areas of the Williston Basin and have significant overlap with Chord's existing footprint, setting the stage for long-lateral development,” said Chord President and CEO Danny Brown. The deal is expected to close by the end of the year. Chord held approximately 1.3 million net acres in the Williston Basin as of the second quarter. Production averaged 275,000 boe/d (56% oil). Chord expects near-term production to average around 9,000 boe/d (78% oil).

DEFINITIVE AGREEMENT - Warren Buffet - Greg Abel Berkshire Hathaway to Acquire Occidental's OxyChem for $9.7 Billion - Leanr More: https://hubs.la/Q03LW14w0 Berkshire Hathaway has reached a definitive agreement to acquire Occidental Petroleum’s chemical business, OxyChem, in an all-cash transaction valued at $9.7 billion. The sale, expected to close in the fourth quarter of 2025 pending regulatory approvals, represents one of the largest U.S. petrochemical transactions in recent years. OxyChem #energy #mergersandacquisitions

Every Barrel Counts in Europe’s Refineries, H1-2025 results show that low-capex, margin-focused improvements are now the real differentiator. Margins are converging. Northern refiners retain only a modest edge over Mediterranean peers, putting the spotlight on pursuing operational excellence over capital spend: - Crude feed assessments to sharpen flexibility - LP reviews to reveal hidden capacity - Hydrocarbon loss studies to protect margin capture H1-2025 announcements from HELLENiQ ENERGY, Preem AB, Eni, repsol, OMV, Galp, Shell, bp, ORLEN S.A. & Neste underline the trend. #Refining #Downstream #MarginExcellence