TransCanada Corp., (TRP) facing opposition to its Keystone XL pipeline in the midwestern U.S., is encountering challenges at home from environmental groups and provincial lawmakers over a proposed C$12 billion ($11.6 billion) line to ship oil to the Atlantic Coast.
China National Petroleum Corp. already spent more money this year on energy assets than any other global producer. Oil and gas fields controlled by Exxon Mobil Corp. (XOM) and Russia’s OAO Rosneft may be next on the list.
The biggest slump in tanker rates since January is signaling weaker U.S. oil imports and spurring analysts to predict a 15-year low for shares of Frontline Ltd. (FRO), whose ships haul almost enough crude to meet daily world demand.
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