Motiva Enterprises

Global Partners LP Reports Fourth-Quarter and Full-Year 2023 Financial Results

Retrieved on: 
Wednesday, February 28, 2024
Energy, Other Energy, Oil, Gas, Acquisition, Motiva Enterprises, News, Gasoline, ExxonMobil, Global Partners, Slifka, GAAP, City, Tax, DCF, Partner, Depreciation, Video game

Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the fourth quarter and full year ended December 31, 2023.
  • Adjusted EBITDA was $112.1 million in the fourth quarter of 2023 versus $106.9 million in the same period of 2022.
  • Adjusted DCF was $58.8 million in the fourth quarter of 2023 compared with $57.3 million in 2022.
  • Management will review the Partnership’s fourth-quarter and full-year 2023 financial results in a teleconference call for analysts and investors today.

Phillips 66 Appoints Robert W. Pease to Board of Directors

Retrieved on: 
Tuesday, February 13, 2024
Finance, Oil, Gas, Energy, Professional Services, Other Energy, Cenovus Energy, Strategic management, Motiva Enterprises, Phillips 66, Chemical engineering, University, Shell, Business

The Board of Directors of Phillips 66 (NYSE: PSX) has appointed Robert W. Pease to serve on the board, effective immediately.

Key Points: 
  • The Board of Directors of Phillips 66 (NYSE: PSX) has appointed Robert W. Pease to serve on the board, effective immediately.
  • “Phillips 66 is pleased to welcome Bob to the board.
  • Phillips 66 is well positioned as the leading integrated downstream energy provider,” stated Greg Garland, executive chairman of the board.
  • “Bob complements an already strong and diverse board and joins Phillips 66 after collaborative discussions with one of our largest investors.

Global Partners LP Completes Acquisition of 25 Liquid Energy Terminals from Motiva Enterprises LLC

Retrieved on: 
Thursday, December 21, 2023
Retail, Energy, Convenience Store, Oil, Gas, Gasoline, Partner, Motiva, Acquisition, Slifka, Global Partners, Exploration, Growth, Colonial, Motiva Enterprises, Ferdinand Magellan, Commercial property

Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today announced the completion of its previously announced acquisition of 25 liquid energy terminals from Motiva Enterprises LLC (“Motiva”).

Key Points: 
  • Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today announced the completion of its previously announced acquisition of 25 liquid energy terminals from Motiva Enterprises LLC (“Motiva”).
  • The transaction is underpinned by a 25-year take-or-pay throughput agreement with Motiva, the anchor tenant at the terminals, that includes minimum annual revenue commitments.
  • “This acquisition nearly doubles our operating footprint, giving Global a significant position from Maine to Florida and into the Gulf Coast,” said Eric Slifka, the Partnership’s President and Chief Executive Officer.
  • The new assets expand access to a critical network of marine loading facilities as well as the Colonial, Plantation, Enterprise, Explorer and Magellan refined product pipelines.

Abdulaziz Al-Gudaimi, Aramco Veteran, Joins EIG as Senior Advisor and Chairman of MENA Operations

Retrieved on: 
Friday, December 1, 2023
Finance, Oil, Gas, Energy, Professional Services, Asset Management, Petro, Downstream, Corporation, Saudi Aramco, Petroleum engineering, Petro Rabigh, Multimedia, EIG, Motiva Enterprises, Business administration, Senior advisor, Partnership, Corporate development, Growth, IBM Power Systems, MENA, Master of Business Administration, Management, Renewable energy

EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that Abdulaziz Al-Gudaimi has joined EIG as Senior Advisor and Chairman of EIG’s Middle East & North Africa (“MENA”) Operations.

Key Points: 
  • EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that Abdulaziz Al-Gudaimi has joined EIG as Senior Advisor and Chairman of EIG’s Middle East & North Africa (“MENA”) Operations.
  • View the full release here: https://www.businesswire.com/news/home/20231201817393/en/
    “We are thrilled to welcome Abdulaziz to the firm,” said R. Blair Thomas, EIG Chairman and CEO.
  • In this role, he helped Aramco secure greater access to growth markets and technologies through portfolio optimization and strategic alignment.
  • Mr. Al-Gudaimi previously held several other leadership positions at Aramco, including Senior Vice President of Downstream and Vice President of Power Systems.

Motiva Announces Retirement of Bill Spurgeon, Executive Vice President of Marketing, Sales & Logistics

Retrieved on: 
Friday, December 1, 2023
Retirement, Shell, Motiva Enterprises, Commercial, Management, Motiva, Marketing

As a result of Spurgeon's retirement, Motiva is implementing organizational changes to re-align various operational and commercial activities. Motiva Executive Vice President of Optimization & Strategy Travis Capps has been named Motiva's Executive Vice President of Commercial -- a new organization encompassing all the commercial activities of Motiva.

Key Points: 
  • HOUSTON, Dec. 1, 2023 /PRNewswire/ -- Motiva Enterprises LLC today announced the retirement of Bill Spurgeon as Executive Vice President of Marketing, Sales & Logistics, effective December 1, 2023.
  • He joined Motiva in 2014 as Vice President of Fuel Sales & Marketing following more than two decades in various domestic and international leadership roles at Shell.
  • "Bill Spurgeon is an exceptional leader and innovative champion for the fuels industry," said Motiva President and CEO Jeff Rinker.
  • Motiva Executive Vice President of Optimization & Strategy Travis Capps has been named Motiva's Executive Vice President of Commercial -- a new organization encompassing all the commercial activities of Motiva.

Global Partners LP to Acquire 25 Liquid Energy Terminals from Motiva Enterprises LLC

Retrieved on: 
Thursday, November 9, 2023
Energy, Other Energy, Oil, Gas, Atlantic Coast, Partner, Ferdinand Magellan, NYSE, Global Partners, Acquisition, Multimedia, Growth, Marketing, Partnership, Simon Borrows, Motiva, Motiva Enterprises, BofA Securities, Commercial property, Exploration

Global Partners LP (“Global”) (NYSE:GLP), an integrated storage, distribution and retail liquid energy company, has entered into an asset purchase agreement with Motiva Enterprises LLC (“Motiva”) to acquire 25 liquid energy terminals along the Atlantic Coast, in the Southeast and in Texas.

Key Points: 
  • Global Partners LP (“Global”) (NYSE:GLP), an integrated storage, distribution and retail liquid energy company, has entered into an asset purchase agreement with Motiva Enterprises LLC (“Motiva”) to acquire 25 liquid energy terminals along the Atlantic Coast, in the Southeast and in Texas.
  • Global has agreed to purchase the terminals, with a shell capacity of 8.4 million barrels, for $305.8 million in cash.
  • View the full release here: https://www.businesswire.com/news/home/20231108711745/en/
    On Thursday, November 9, 2023, Global Partners LP (NYSE:GLP) announced the signing of an asset purchase agreement with Motiva Enterprises LLC to acquire 25 liquid energy terminals along the Atlantic Coast, in the Southeast and in Texas for $305.8 million in cash.
  • (Graphic: Global Partners LP)
    Global currently owns or leases 24 liquid energy terminals in states throughout the Northeast and in North Dakota and Oregon.

Global Partners Reports Third-Quarter 2023 Financial Results

Retrieved on: 
Thursday, November 9, 2023
Professional Services, Insurance, Finance, Atlantic Coast, DCF, Partner, DC, EV, NYSE, Tax, Rain, Gasoline, EBITDA, News, GAAP, Acquisition, Generally Accepted Accounting Principles (United States), Growth, Motiva, Depreciation, Oil, Motiva Enterprises, Global Partners, Propane, Video game, Beauty salon, Natural gas, Q3

Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the third quarter ended September 30, 2023.

Key Points: 
  • Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the third quarter ended September 30, 2023.
  • Global has agreed to purchase the terminals, which have a shell capacity of 8.4 million barrels, for $305.8 million in cash.
  • Distributable cash flow (DCF) was $42.2 million in the third quarter of 2023 compared with $128.0 million in 2022.
  • The distribution will be paid on November 14, 2023 to unitholders of record as of the close of business on November 8, 2023.

Natural Gas Services Group, Inc. Announces the Addition of a New Director to its Board of Directors

Retrieved on: 
Monday, October 30, 2023
PBF Energy, BBA, NYSE, Motiva Enterprises, Acquisition, Arthur Andersen, Audit committee, Growth, NGS, Interim, Business, Baylor University, CFO, TSX, N.I.O.C. school of Accounting and Finance, Management, Accounting

Ms. Hodges will join the class of directors whose term is set to expire at the 2025 annual meeting of shareholders.

Key Points: 
  • Ms. Hodges will join the class of directors whose term is set to expire at the 2025 annual meeting of shareholders.
  • “We are pleased to welcome Georganne as a director,” said Company Chairman and Interim Chief Executive Officer Stephen C. Taylor.
  • “Given her industry background, financial expertise, and public board experience we feel she will be an extremely valuable member of our Board.”
    Ms. Hodges added, "I'm thrilled to join the Board of Directors at Natural Gas Services, Inc.
  • This is an incredible team with valuable assets driving essential work in the oil and natural gas industry.

Array Technologies Names Aaron Gabelnick as Chief Strategy and Technology Officer

Retrieved on: 
Tuesday, August 8, 2023
University, Motiva Enterprises, Doctor of Philosophy, Harvard University, Hydrogen, Research, Chemistry, Business administration, ATI Technologies, Cornell University, Honeywell, Master of Business Administration, Dow Chemical Company, Management, Saudi Aramco, Array

ALBUQUERQUE, N.M., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the company”), a leading provider of tracker solutions and services for utility-scale solar energy projects, has named Aaron Gabelnick as its chief strategy and technology officer, effective August 7, 2023.

Key Points: 
  • ALBUQUERQUE, N.M., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the company”), a leading provider of tracker solutions and services for utility-scale solar energy projects, has named Aaron Gabelnick as its chief strategy and technology officer, effective August 7, 2023.
  • Gabelnick will report directly to Array’s CEO Kevin Hostetler.
  • “I am honored and excited to combine my skills in business strategy and technology development with my passion for sustainability to support Array’s growth as a renewable energy technology leader,” said Aaron Gabelnick, chief strategy and technology officer at Array.
  • Before joining Honeywell, he served as head of downstream strategy at Saudi Aramco, where he led overall strategy for refining, chemicals, trading, power, and logistics.

Motiva Chemicals Continues Star Status in OSHA's Voluntary Protection Program (VPP)

Retrieved on: 
Tuesday, May 16, 2023
Michigan Occupational Safety and Health Administration, OSHA, Star, VPP, Occupational safety and health, Occupational Safety and Health Act 1994, Motiva Enterprises, PORT, Port Arthur, Safety, Motiva

PORT ARTHUR, Texas, May 16, 2023 /PRNewswire/ -- Motiva Enterprises announced today that their chemicals plant, part of the company's Port Arthur Manufacturing Complex, has been recertified with the "Star" designation from the Occupational Safety and Health Administration (OSHA) Voluntary Protection Program (VPP).

Key Points: 
  • PORT ARTHUR, Texas, May 16, 2023 /PRNewswire/ -- Motiva Enterprises announced today that their chemicals plant, part of the company's Port Arthur Manufacturing Complex, has been recertified with the "Star" designation from the Occupational Safety and Health Administration (OSHA) Voluntary Protection Program (VPP).
  • At 35 years, this makes the Port Arthur Chemicals plant the oldest active federal VPP site in the nation with a union-represented workforce.
  • OHSA's VPP program recognizes the outstanding achievements of sites that have successfully incorporated comprehensive safety and health management programs into their total management systems.
  • VPP-certified sites are committed to being industry leaders in all aspects of occupational health and safety.