-Phillips 66 bolstered its lubricants business by acquiring Memphis, Tenn.-based Spectrum Corp. Spectrum is an independent blender, packager and marketer of a line of specialty lubricants that includes two-cycle engine oil, small engine oil and hydraulic oil.
-Texas-based WesPac Midstream’s Vancouver unit is seeking permission to export 400 million cubic feet of LNG per day from British Columbia. Via the Financial Post, no capital cost estimate has been issued for the project, but the company hopes to begin construction next year. WesPac is majority-owned by Highstar Capital.
-Meanwhile, analysts expect Canadian LNG and oil sands projects to get a boost from the acquisition of UK engineering firm Kentz by SNC Lavalin, which was announced today. Via Platts, experts believe SNC Lavalin’s oil and gas practice will benefit greatly from Kentz’s relationships with companies such as Syncrude, ExxonMobil and BG. Canadian producers will reap the benefits of lower project capital costs and needed maintenance.
-Targa Resources on Friday shot down reports that Energy Transfer Equity was close to acquiring it. Targa owns more than 11,000 miles of natural gas pipelines in the U.S., making it an attractive target for other firms such as Kinder Morgan and Enterprise Products Partners. Via FuelFix, Targa said a potential deal with Energy Transfer never got past initial discussions.
-The state of Texas hit a new instantaneous peak wind energy output in March, according to the Energy Information Administration. Texas currently has approximately one-fifth of the total wind capacity in the U.S.
