A look back at successes and setbacks in the energy industry.
Highs
DOMINION, DUKE — The North Carolina Utilities Commission approved the latest 15-year integrated resource plans for the state's three investor-owned utilities, Duke Energy Carolinas LLC, Duke Energy Progress LLC and Virginia Electric and Power Co., more commonly known as Dominion Energy North Carolina. However, the Duke Energy Corp. utilities are required to submit further data on the future of their coal-fired power plants.
CHENIERE ENERGY — Cheniere Energy Inc. informed the Federal Energy Regulatory Commission that the second train of its Corpus Christi LNG export terminal in Texas is ready to begin commercial operations, requesting the commission grant approval of commencing operations by Aug. 31.
Between
BP — BP PLC has agreed to a $5.6 billion sale of its Alaska assets to Hilcorp Energy Co., a deal which will leave two companies, Hilcorp and ConocoPhillips Co., controlling 72% of the Last Frontier's oil production.
CONSTITUTION PIPELINE — FERC unanimously found that the New York State Department of Environmental Conservation waived its authority under Section 401 of the Clean Water Act to issue water quality certification for Constitution Pipeline Co. LLC's proposed Constitution pipeline when it improperly extended a statutory deadline. The agency’s 2016 denial of a water permit tied the project up for over three years.
SAUDI ARAMCO — Saudi Arabian Oil Co. plans to split its IPO into two stages, debuting a portion of the shares on Saudi Arabia's stock exchange later this year before an international offering in either 2020 or 2021.
Lows
PG&E — A federal bankruptcy court judge suggested that a timeline PG&E Corp. needs to meet to exit bankruptcy will be difficult to meet. The company wants to set an amount for its wildfire-related liabilities by January 2020 to meet a June 30, 2020, deadline, as set by state law, to emerge from bankruptcy to be able to participate in a state fund for future wildfire-related claims.
OCCIDENTAL — Institutional investors upped their stakes in Occidental Petroleum Corp., with the biggest buyer, Carl Icahn's Icahn Capital LP, doing so to punish Occidental's leadership for its $57 billion takeover of Anadarko Petroleum Corp.
