On Tuesday, PBF Energy Inc (NYSE:PBF)’s shares inclined 0.49% to $28.93.
PBF Energy Inc (PBF) declared that its partner has signed a definitive agreement to purchase Chalmette Refining, LLC, comprising of the 189,000 barrel per day Chalmette Refinery and related logistics assets, from ExxonMobil and PDV Chalmette, LLC. With the acquisition PBF will enhance its total throughput capacity to over 725,000 barrels per day. The purchase price for the assets is $322 million, plus working capital counting inventory to be valued at closing. PBF Energy does not expect to issue equity to finance any portion of this transaction. The transaction is predictable to be about 20% accretive to 2016 consensus earnings in the first year of operation and is predictable to close prior to year-end 2015, subject to customary closing conditions and regulatory approvals.
PBF’s Executive Chairman Tom O’Malley commented, “The PBF administration team that the board has put in place has a proven track record of purchasing and integrating accretive acquisitions and chose the right opportunity in Chalmette to build on that track record at an attractive cost per complexity barrel.”
The Chalmette Refinery, located outside of New Orleans, Louisiana, is a 189,000 barrel per day, dual-train coking refinery with a Nelson Complexity of 12.7 and is capable of processing both light and heavy crude oil. The facility is planned ally positioned on the Gulf Coast with strong logistics connectivity that offers flexible raw material sourcing and product distribution opportunities, counting the potential to export products.
PBF Energy Inc., together with its auxiliaries, engages in the refining and supply of petroleum products. It produces gasoline, ultra-low-sulfur diesel, heating oil, jet fuel, lubricants, petrochemicals, and asphalt, in addition to unbranded transportation fuels, heating oil, petrochemical feedstocks, and other petroleum products.
Great Plains Energy Incorporated (NYSE:GXP)’s shares dropped -1.47% to $24.72.
Eight electric utilities and energy companies recently declared an initiative to provide improved responses to major events affecting the electric transmission grid by giving transmission-owning entities access to domestically warehoused long lead-time critical equipment.
Associates of American Electric Power, Berkshire Hathaway Energy, Duke Energy, Edison International, Eversource Energy, Exelon, Great Plains Energy (GXP), and Southern Company have signed a memorandum of understanding to pursue development of Grid Assurance™, a limited liability company that anticipates to offer subscribers cost-effective solutions for enhancing grid resiliency and protecting customers from prolonged transmission outages.
As projected, Grid Assurance will own and provide subscribers with timely access to an inventory of emergency spare transmission equipment that can otherwise take months to acquire. Grid Assurance filed a petition with the Federal Energy Regulatory Commission (FERC) late yesterday seeking confirmation that this service can be part of a transmission-owning entity’s strategy to effectively address grid resiliency mandates. Grid Assurance will not be FERC regulated, but plans to charge cost-based subscription fees, similar to FERC-regulated transmission formula rates. Cost-based subscription fees are predictable to facilitate subscribers’ ability to recover expenses.
Great Plains Energy Incorporated, through its auxiliaries, generates, transmits, distributes, and sells electricity in the United States. It also provides regulated steam services in St. Joseph, Missouri. The company generates electricity using coal, nuclear, natural gas, oil, and wind resources. It has about 6,600 megawatts of generating capacity.
At the end of Tuesday’s trade, United Parcel Service, Inc. (NYSE:UPS)‘s shares dipped -0.63% to $100.75.
UPS (UPS) declared the induction of 26 Canadian drivers into its elite “Circle of Honor.” The group, in a class by themselves, has achieved 25 years of safe driving.
Collectively, the 7,878 worldwide UPS drivers have logged more than 8.5 billion kilometers and more than 221,000 years of safe driving through their careers. That’s enough kilometers to travel to Mars and back 36 times.
In addition to the new inductees, UPS Canada drivers Robert Avis, Doug Coxon, and Karl Peter reached a milestone of 38 years of safe driving. All three drivers have been recognized as Canada’s longest serving employees and members of the prestigious Circle of Honor who have delivered millions of packages throughout their career with no-at-fault accidents.
UPS drivers worldwide are among the safest on the roads, logging more than 4.8 billion kilometers per year and delivering more than 4 billion packages safely. Before ever making a delivery, all UPS drivers are taught safe driving methods through the company’s defensive driving platform and the training continues throughout their careers.
Collectively, the 7,878 worldwide UPS drivers have logged more than 8.5 billion kilometers and more than 221,000 years of safe driving through their careers. That’s enough kilometers to travel to Mars and back 36 times.
In addition to the new inductees, UPS Canada drivers Robert Avis, Doug Coxon, and Karl Peter reached a milestone of 38 years of safe driving. All three drivers have been recognized as Canada’s longest serving employees and members of the prestigious Circle of Honor who have delivered millions of packages throughout their career with no-at-fault accidents.
UPS drivers worldwide are among the safest on the roads, logging more than 4.8 billion kilometers per year and delivering more than 4 billion packages safely. Before ever making a delivery, all UPS drivers are taught safe driving methods through the company’s defensive driving platform and the training continues throughout their careers.
Aeropostale Inc (NYSE:ARO), ended its Tuesday’s trading session with 3.35% gain, and closed at $1.85.
Aeropostale Inc (ARO) declared that Emilia Fabricant is leaving the Company. Effective right away, the Company’s senior merchandising team will report to Julian R. Geiger, Chief Executive Officer. There are no plans to seek a replacement for Ms. Fabricant at this time.
Aéropostale, Inc. operates as a specialty retailer of casual apparel and accessories for 14 to 17 year-old young women and men. It operates through two segments, Retail Stores and E-Commerce, and International Licensing.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
