Country seeks to exploit its massive Vaca Muerta shale play.
Oil prices jumped more than 2% on Oct. 11 after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.
Occidental is one of the biggest exporters of U.S. crude and routinely ships to Asian buyers, trade sources said. The company did not respond to requests for comment.
Tallgrass Energy, LP is a growth-oriented midstream energy infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.
Exxon Mobil Corp. this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to four people familiar with the matter, putting new pressure on the U.S. sanctioned country and on global crude freight rates.
Sanctions levied on Chinese shipper COSCO following charges of moving crude out of Iran.
The Driftwood project includes natural gas production, gathering, processing, and transportation facilities, along with the proposed Driftwood LNG export facility.
The deal comes at a time when LNG Ltd. has been struggling to lock in sales agreements for its Magnolia project due to the U.S. trade dispute with China.