US company Chevron to sell Bangladesh gas fields to Chinese firm

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Chevron

MNA Business Desk: U.S. oil and gas company Chevron Corp said on Monday it has agreed to sell its three gas producing fields in Bangladesh to Chinese firm Himalaya Energy, reported news agency.

“The agreement is for the sale of Chevron`s Bangladesh companies, which hold our interests in Bangladesh,” a company spokesman told media, declining to share the deal value or any timeline.

The spokesman said Himalaya Energy is owned by a consortium of China ZhenHua Oil and CNIC Corp Ltd. ZhenHua is a state-owned oil company while CNIC is an investment corporation established in Hong Kong.

Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations.