Phil Adams News
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Billionaire Paul Singer’s best chance to maximize his potential $800 million investment in Hess Corp. may be to press for a sale of the whole company after the oil and natural gas producer exits its refining and storage businesses.
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Transocean Ltd. said its internal investigation found BP Plc was largely responsible for last year’s fatal drilling catastrophe in the Gulf of Mexico and reiterated its refusal to help BP pay claims stemming from the worst U.S. offshore oil spill.
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A PG&E Corp. pipeline exploded yesterday in the San Francisco suburb of San Bruno, California, killing four people and destroying 38 homes in the utility owner’s second deadly natural-gas blast in two years.
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Federal investigators and local officials are searching through debris in the California town of San Bruno to determine what caused a PG&E Corp . pipeline explosion that killed four people and destroyed 38 homes in the utility owner’s second deadly natural-gas blast in two years.
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E.ON AG is nearing an agreement to sell its U.S. unit to PPL Corp. in a deal that values the unit at about $7.5 billion including debt, according to a person with knowledge of the matter.
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London’s stockbrokers are shrinking as Europe’s sovereign debt crisis and competition from international firms squeezes revenue and fees.
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Chesapeake Energy Corp.’s depressed valuation is making the company a potential target for acquirers willing to bet that natural-gas prices will rebound from a decade low.
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PPL Corp. agreed to buy E.ON AG’s U.S. power and natural gas unit for $6.7 billion in cash as the owner of Pennsylvania’s second-largest utility seeks growth outside its home state.
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PPL Corp. ’s $5.6 billion purchase of E.ON AG’s U.K. power grid will move the Pennsylvania power producer away from riskier wholesale electricity markets and toward more predictable revenue.
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