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Stock Market & Financial Investment News

News Breaks
February 4, 2013
07:33 EDTGEL, XOMGenesis Energy announces expansion of Gulf Coast terminal infrastructure
Genesis Energy, L.P. (GEL) plans to invest approximately $125M to improve existing assets and develop new infrastructure in Louisiana to connect into Exxon Mobil Corporation’s (XOM) Baton Rouge Refinery, one of the largest refinery complexes in North America with more than 500,000 barrels per day of refining capacity. The project is expected to generate positive economic benefits both for the community of Baton Rouge and the state of Louisiana. Genesis will improve its existing terminal at Port Hudson, Louisiana and build a new 18 mile 20” diameter crude oil pipeline connecting Port Hudson to the Maryland Terminal and continuing downstream to the Anchorage Tank Farm. The company also plans to build a new crude oil unit train facility at the Baton Rouge Maryland Terminal. At Port Hudson, Genesis will construct approximately 200,000 barrels of storage capacity to complement its 216,000 barrels of existing tank capacity and make improvements to its existing barge dock and truck station. Project construction is scheduled to begin in early 2013. The Port Hudson upgrades and new crude oil pipeline are expected to be completed by the end of 2013 and the Maryland Terminal completion is scheduled for 2Q14.
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April 22, 2014
07:30 EDTXOMExxon closes U.K. pipeline as police probe fuel robbery, Reuters says
Exxon Mobil closed one of the U.K's primary underground fuel pipelines after police discovered a stash of diesel they thought was siphoned off by robbers, according to Reuters, citing a statement from the police officers involved. Reference Link
April 16, 2014
18:38 EDTXOMFidelity Contrafund adds to Tesla position, Reuters says
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April 14, 2014
08:13 EDTGELGenesis Energy announces resignation of COO
Genesis Energy announced that its president and COO, Steve Nathanson, has provided notice that he intends to resign those positions effective April 30 to spend additional time with his family, church and community affairs in Louisiana and Mississippi. He has agreed to serve in an advisory capacity for the next three years to ensure a smooth transition and the completion of several major projects.

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