According to Reuters, Shell and Phillips 66 are exploring the sale of their combined majority stake in the company that owns the Explorer Pipeline, a vast refined-products network stretching more than 1,800 miles across the United States. BOE ReportA Critical Piece of U.S. Energy InfrastructureThe Explorer Pipeline has been operating since the early 1970s and is regarded as one of the most important refined-products pipeline systems in the United States. Alongside the Colonial Pipeline, Explorer forms part of the backbone of America’s fuel distribution system. According to Reuters, the proposed sale reflects exceptionally strong investor demand for energy infrastructure. What It MeansIf the Explorer sale proceeds, it would represent another example of the changing priorities of the world’s largest energy companies.