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Friday, Jun 21
Hess (HES) and Newfield Exploration (NFX) have reportedly launched separate auctions to sell...
Hess (HES) and Newfield Exploration (NFX) have reportedly launched separate auctions to sell Asian oil and gas assets with a combined value of around $3B. Hess is looking to offload up to $2B worth of stakes in Indonesia and Thailand, while Newfield is selling interests in Chinese and Malaysian fields. The divestitures are in line with a trend of U.S. energy companies unloading older and less productive fields in favor of more strategic and profitable projects.