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Chevron continues to sell its foreign assets

13 October 2016 09:29 (UTC +04:00)

Baku - APA-Economics. Chevron Corp (CVX.N) confirmed that the company is in "commercial discussions" regarding its Bangladesh assets, as the second-largest U.S. energy company moves forward with plans to sell assets amid a prolonged slump in energy prices, Reuters reported.

However, Chevron stressed that no decision has been made to sell its assets in the country. "We will only proceed if we can realize attractive value for Chevron," it said in a statement on Thursday.

The San Ramon, California-based company disclosed in October last year plans to sell about $10 billion of assets by 2017.

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 has 11.3% share in Azeri-Chirag-Guneshli, 8.9% in Baku-Tbilisi-Ceyhan.