Marathon Oil announced its intention to sell 135 million of common shares through a public offering. The ongoing slump in the global oil industry has led many oil firms to undertake the cost-cutting strategy to keep hold of their cash level.
According to a Reuters report, Hess Corp had planned to sell its storage terminal network valued USD850 to Buckeye Partners LP.
Hess Corp and Newfields Exploration Co receive substantial offers for Asian assets.
Hess Corp started the sale of its oil terminal as the company seeks to receive US$1 billion for the asset.
Hess Corp and Newfield Exploration to do auctions of oil and gas assets located overseas.