Big Oil Wants to Develop Its Own Maritime Fleet

Before you go, we thought you'd like these...
Before you go close icon

Due to the costs of gathering natural gas from the ocean's depths and transporting it to processing centers on land, big oil companies are starting to develop facilities that will perform these actions out at sea. Royal Dutch Shell was the first to announce that it had begun construction back in October 2012, but its larger rival ExxonMobil is not to be outdone.

Partnering with Exxon will be BHP Billiton . Together, these two companies hope to begin processing millions of tons of liquids, LNG, and condensate by 2020 at the earliest. With that long time horizon, both companies are hoping that such a large investment will still be worth it.


The Motley Fool's chief investment officer has selected his No. 1 stock for the next year. Find out which stock it is in the brand-new free report: "The Motley Fool's Top Stock for 2013." Just click here to access the report and find out the name of this under-the-radar company.

link

The article Big Oil Wants to Develop Its Own Maritime Fleet originally appeared on Fool.com.

Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners