Stream BulletinNews releases as they cross the wire

Energy & Utilities · Week of Nov 2, 2026

Refinery sales and debt paydowns: the week in energy and utilities

Refining asset sales, earnings tied to debt reduction and buybacks, and a regulatory push on the NextEra-Dominion deal led the week's utility and energy releases.

· Stream Bulletin newsroom

Balance sheets and portfolio reshaping ran through the week's biggest items. Marathon Petroleum and MPLX agreed to sell the St. Paul Park and Mandan refineries and related midstream assets to CVR Energy for $4.2 billion plus inventory value. Calumet said it has retired approximately $265 million of debt since July. Hut 8 closed a $1.07 billion revolving credit facility and raised its share repurchase authorization to $1.0 billion.

On the regulated side, NextEra Energy and Dominion Energy say they accepted 101 of 117 conditions proposed by Virginia regulators' staff and consumer counsel for their proposed combination, which they expect to close in the second half of 2027. Smaller items included American Water's start of site work on a West Virginia treatment plant, Erayak's progress on a new manufacturing facility, a PG&E Corporation Foundation scholarship round and executive changes at STAK.

  1. Calumet, Inc.

    Calumet Reports Third Quarter 2026 Results

    Calumet reported third quarter 2026 net income of $273.3 million, down from $313.4 million a year earlier, while Adjusted EBITDA with Tax Attributes rose to $347.2 million from $92.5 million. The company says it has retired approximately $265 million of debt since July, including redemptions of 2028 Mirror Notes and 2028 Notes.

  2. Hut 8 Corp.

    Hut 8 Reports Third Quarter 2026 Results

    Hut 8 reported third quarter revenue of $71.1 million and net income of $189.5 million, the latter including $413.8 million of primarily unrealized gains on digital assets. The company says a second 352 MW lease at Beacon Point brings expected base-term contract value across its AI data center portfolio to approximately $26.6 billion, and its board raised the repurchase authorization to $1.0 billion.

  3. NextEra Energy, Inc.; Dominion Energy

    NextEra Energy and Dominion Energy strengthen historic Virginia benefits package with additional customer and financial safeguards

    NextEra Energy and Dominion Energy filed rebuttal testimony with the Virginia State Corporation Commission, accepting 101 of 117 proposed conditions as proposed and 13 with modifications. The companies say commitments include four years of shareholder-funded residential bill credits and $100 million each for EnergyShare and workforce development, and they expect the deal to close in the second half of 2027.

  4. Erayak Power Solution Group Inc.

    ERAYAK Advances Hybrid Power Strategy as Ruike Facility Enters Final Acceptance Phase

    Erayak says its subsidiary Ruike Electronics' new manufacturing facility has entered final construction acceptance, with phased production planned from the fourth quarter of 2026 through the fourth quarter of 2027. The project includes energy storage with a planned annual design capacity of 150 MWh and a 16 kW tri-fuel inverter generator approaching pilot production.

  5. Marathon Petroleum Corporation; MPLX LP

    Marathon Petroleum Corp to Divest Minnesota and North Dakota Refineries & MPLX LP to Divest Related Midstream Assets

    Marathon Petroleum and MPLX agreed to sell the St. Paul Park, Minnesota, and Mandan, North Dakota, refineries and related midstream assets to CVR Energy for $4.2 billion plus inventory value, split $3.45 billion to MPC and $750 million to MPLX. The companies say the midstream sale represents a 9x multiple on forecast 2027 EBITDA, with closing expected at the end of 2026 subject to Hart-Scott-Rodino Act clearance.

  6. Pacific Gas and Electric Company

    PG&E Corporation Foundation Awards $327,500 in STEM College Scholarships

    The PG&E Corporation Foundation awarded $327,500 in STEM scholarships to 57 students for the 2026-2027 academic year, with eligibility now extended to HBCUs nationwide. The release says the funding comes from PG&E shareholders and is not recovered through customer rates.

  7. STAK Inc.

    STAK Inc. Announces Changes in Management

    STAK appointed Xiaofei Han as Chief Financial Officer effective November 1, 2026, following the resignations of CFO Diana Li and CTO Ke Dennis Xu effective October 31, 2026. The company says the resignations were not the result of any disagreement, and the release does not name a new CTO.

  8. American Water

    West Virginia American Water Advances Central Grove Project as Part of Broader Water System Upgrades

    West Virginia American Water has begun site preparation for the Central Grove Water Treatment Plant in Jefferson County, West Virginia, which the company describes as a step toward connecting the Mountain and Walnut Grove water systems. The company says it has invested more than $11.7 million in local water and wastewater improvements in its first three years of owning five acquired Jefferson County utility entities.

This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not Stream Bulletin reporting.