US oil and gas firm Occidental Petroleum is reportedly seeking a $more than $5 billion 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.
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.