Two massive explosions damaged a major port in China and with oil prices falling again, US shale producers are looking to make a deal.
Tianjin Explosions Damage Port Terminal
Two massive explosions at the Chinese port of Tianjin that ripped through parts of the terminal have disrupted iron ore import operations, as well as disrupting oil tanker arrivals and departures at this gateway to northeast China.
The blasts killed at least 44 people and injured more than 500, officials and state-run media said on Thursday.
Crude Oil Prices Bring Shale Extractors Back to the Table
A renewed slide in crude oil prices is having the effect US energy sector dealmakers and private equity managers have been looking for: oil companies are now returning calls from potential buyers. Throughout much of the crude market rout that started in mid-2014 oil firms could rely on generous capital markets investors betting on a quick recovery in prices, which made any asset sales look unattractive.