APA-Economics reports this was caused by serious decline in corporation’s profit.
Yesterday, Reuters reported that Chevron Corp (CVX.N) confirmed that the company is in "commercial discussions" regarding its Bangladesh assets. However, Chevron stressed that no decision has been made to sell its assets in the country. The company said sale of assets is due to decline in oil price. However, final decision has not been made yet.
Bloomberg earlier reported that Chevron is seeking about $2 billion from the sale of natural gas assets in Bangladesh, citing people familiar with the matter. The Bangladesh assets sale has drawn interest from suitors including Indian and Chinese oil producers, Bloomberg reported.
Chevron’s foreign assets also include Azeri-Chirag-Guneshli and Baku-Tbilisi-Ceyhan. The corporation has relevantly 11.3% and 8.9% share in these projects.
Chevron’s coordinator in Azerbaijan Sally Jones said: “It is not Chevron’s policy to discuss commercial matters or market speculation”.
“We can confirm that Chevron has been in commercial discussions about our interests in Bangladesh. At this stage, no decision has been made to sell our interests. We will only proceed if we can realize attractive value for Chevron”, she added.