Egypt

Apache Corp., under pressure to sell or spin off its international portfolio to focus on the U.S. onshore, on Monday said it has reorganized its global operations, with the North American businesses, including Canada, now part of two “super” Permian and Houston regional units.

Apache Corp., under pressure to sell or spin off its international portfolio to focus on the U.S. onshore, on Monday said it has reorganized its global operations, with the North American businesses, including Canada, now part of two "super" Permian and Houston regional units.

Apache Corp. late Thursday pulled off what many analysts had not thought probable, selling a one-third operational stake in strife-torn Egypt for $3.1 billion in cash to China’s Sinopec International Petroleum Exploration and Production Corp.

Orascom Construction Industries (OCI), Egypt’s largest company, on Wednesday agreed to make the largest single investment ever in the state of Iowa — $1.4 billion — to build a nitrogen fertilizer plant that would tap U.S. natural gas supplies.

Malaysian national oil company Petronas has increased to approximately C$6 billion its bid for Progress Energy Resources Corp. in a deal that would create a company that would deliver Canadian natural gas to world markets, Progress said. The amended offer was made in an effort to block an unsolicited proposal from another company.

Malaysian national oil company Petronas plans to combine its liquefied natural gas (LNG) expertise with the unconventional resources abilities of Calgary-based Progress Energy Resources Corp. by acquiring Progress in a deal worth C$5.5 billion including debt. The combined enterprise would deliver Canadian natural gas to world markets.

Highway relocation work on Texas Eastern between Egypt Station in Arkansas and Fagus Station on the Arkansas-Missouri border, previously set for May 4-5, has been delayed due to high water in the area. The work is now scheduled for May 27-28. As a result, Texas Eastern will begin previously posted cleaning pig runs on May 4 that were originally scheduled to start on May 6, and they will continue on a daily basis through May 8. During these cleaning runs, restrictions may be required in the East Texas and/or M-1 24-inch zones.