California, the third-biggest refining state in the U.S., is about to see a flood of oil by rail from places such as Canada and North Dakota as suppliers seek to tap a market isolated from the rest of the country.
The world’s largest oil companies from Royal Dutch Shell Plc to Exxon Mobil Corp. are likely to reassess deals to drill in Ukraine where political crisis is threatening a promising source of new profits as well as the country’s drive for energy independence.
Chevron Corp., the fourth-largest oil and natural gas company by market value, is conducting a strategic review of its U.S. midstream business which could result in a sale of some or all of the unit, people with knowledge of the matter said.
ALL-America Latina Logistica SA fell the most on the Ibovespa after a newspaper reported that some of its controlling shareholders may reject Cosan SA Industria e Comercio’s $3 billion offer for the railroad company.
Seadrill Ltd, the world’s biggest drilling company, fell the most in 2 1/2 years after postponing plans to boost its dividend and warning that the rig market will grow slower than expected as oil companies scale back spending.
Investors including Allianz SE and Abu Dhabi’s sovereign wealth fund, already suing Norway’s government in a gas-tariff dispute, are petitioning for tax relief to cut costs of a natural gas terminal and pipeline.