NEW YORK: Chevron Corp, the second-largest US oil company, is planning to sell certain assets in Asia worth up to $5 billion, the Wall Street Journal reported, citing people familiar with the matter.
The company is set to start selling its offshore China assets in August, the Journal reported.
Chevron’s stake in an offshore oil field venture with China’s state-owned oil company CNOOC Ltd. could fetch as much as $1 billion, according to the report.
Chevron had disclosed in October last year plans to sell about $10 billion of assets by 2017.
The oil giant is also looking for buyers for its geothermal assets in Indonesia, and is considering offers worth more than $2 billion, the Journal reported citing sources.
Natural gas field assets in Thailand are also part of the company’s divestiture plans, according to the report.
Chevron did not immediately respond to a request for comment.
Chevron to sell Asia assets worth up to $5bn
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