Just three years after a $13 billion-dollar merger, TechnipFMC announced that it will now split its company into two separate entities. TechnipFMC was created by the merger in 2017 of the French oilfield services company Technip and Houston equipment maker FMC Technologies. The company’s management believes the two new companies, both of which will be valued at over $6 billion, will result in higher returns to investors.
The price for a gallon of regular gasoline fell to $2.31 last week, down four cents from the previous week, according to Gasbuddy.com. Some analysts are now predicting that the price could approach the $2 mark as summer driving season comes to an end and refiners make the switch to producing winter fuel blends.
I’m Kym Bolado, and that is your Energy News.