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Commenting on BHP Billiton's plans to divest its U.S shale unit, Jon Weintraub, research analyst at Wood Mackenzie, said: "BHP's announced divesture of its onshore U.S. business is a pretty momentous step-change in its corporate strategy and marks the culmination of its push to be a major shale player. We expect to see all options being considered with a substantial amount of interest from multiple pools of buyers."
Chinese companies can now negotiate long-term contracts to source liquefied natural gas from US suppliers, the US Commerce Department said.
If Asia's largest upstream players want to grow production, Wood Mackenzie expects them to diversify into the US tight oil market.
Those hoping that recent oil-price weakness will prompt US producers to pull back drilling activity and ease the glut of oil supply may need to keep waiting.
Alan Gelder, Vice President of Refining, Chemicals & Oil Markets, believes that North America has the opportunity to take a much bigger role in the future global bunker market.
Gas demand may be nearing a new peak due to stringent fuel efficiency standards and shifting demographics.
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