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Chevron Corporation (NYSE:CVX) Selling Indonesian Assets
The energy giant Chevron Corporation (NYSE:CVX) is in talks with the Indian GAIL Ltd about the sale of its two deepwater gas projects, Bangka and Gendalo-Gehem, in Indonesia as the company is planning to reduce its stakes in the deepwater blocks.
The company had already sold some stakes in Bangka and has reached an agreement to sell some stakes in Gendalo-Gehem.
Chevron Corporation (NYSE:CVX) said, "During 2010, the company reached an agreement to farm out a portion of its working interest in the production sharing contracts of the two projects".
Chevron Corp. (NYSE:CVX) shares were at 108.13 at the end of the last day's trading. There's been a 16.6% movement in the stock price over the past 3 months.
http://www.emoneydaily.com/chevron-corporation-nysecvx-selling-indonesian-assets/69812775
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