Oil Giants Sell Pipelines as Shale Strength Drives Deals: Energy

Chevron Corp. and Royal Dutch Shell Plc are seizing on a surge in demand for pipelines and storage facilities to raise cash for oil and gas exploration.

Chevron, which spent $2 billion more than it planned on exploration and production last year, is reviewing its entire U.S. midstream business -- the infrastructure used to transport and process oil and gas -- for potential sale. Shell, which promised to accelerate asset sales last month to revive earnings, is seeking buyers for a stake in a Texas pipeline.