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Reuters: Chevron may miss target to close sale of Bangladesh gas fields

Published 09/27/2017, 11:56 AM
© Reuters.  Reuters: Chevron may miss target to close sale of Bangladesh gas fields
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  • Chevron (CVX -0.2%) may miss its mid-October target for closing the $2B sale of its natural gas assets in Bangladesh to a Chinese consortium, Reuters reports.
  • CVX agreed in April to sell its three Bangladesh gas fields as part of non-core asset disposals, but Bangladesh’s state oil and gas firm Petrobangla says it has the first right of refusal in the sale.
  • The government official remains undecided on backing a counterbid amid doubts whether the state-run company has the expertise to run the fields or the funds to make future investments; in the meantime, CVX "may need to decide then whether it wants to extend the deadline, or to reassess its strategy in Bangladesh,” according to the report, citing a Chinese source.
  • Now read: Buy Chevron At 5.20


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