US oil and gas company Occidental Petroleum is reportedly seeking a $ 5bn sale of its pipeline assets , to raise extra funds for investment in exploration and production . The company is working on an auction of assets including a major US crude pipeline , a stake in a Middle Eastern gas pipeline , and the 400 mile Centurion Pipeline , that carries crude to markets from the Permian Basin in West Texas and northwestern Mexico . Also included is a 50 % stake in the Ingleside Energy Centre facility in Texas , which was put up for sale last year but failed to find a buyer .
US oil and gas firm Occidental Petroleum is reportedly seeking a $5bn sale of its pipeline assets, to provide extra funds for investment in exploration and production. The company is working on an auction of assets including a major US crude pipeline, a stake in a Middle Eastern gas pipeline, and the 2,900 mile Centurion Pipeline, that carries crude to Oklahoma from the Permian Basin in West Texas and New Mexico. Also included is a 50% stake in the Ingleside Energy Centre facility in Texas, which was put up for sale last year but failed to find a buyer.