US cutback from Asia paves way for oil investment rivals
American energy firms under pressure to reduce spending and overseas exposure, focus on home market
Sydney
A PULLBACK by US energy companies from Asia is opening the door for competitors looking to snap up unwanted oil and gas assets in the region.
US producers are facing pressure to cut spending, reduce exposure overseas and focus on the domestic market, where oil production is forecast to reach the highest in 45 years in 2015. Apache Corp and Murphy Oil are among firms in disposal mode this year in the Asia-Pacific region.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Saudi Arabia hikes oil selling prices for all grades to Asia
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
ExxonMobil to take 18 to 24 months to hit full stride with Pioneer purchase
Oil settles down on US jobs data, steepest weekly loss in three months
Glencore Group nears deal for Shell’s Singapore oil refinery
Opec+ may need to tackle oil capacity conundrum next month