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 deal would be the largest ever by an American company on foreign soil, according to Bloomberg. 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.