Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Chevron to Sell Interest in Two Nigeria Shallow-Water Oil Leases

Don't Miss Out —
Follow us on:

June 11 (Bloomberg) -- Chevron Corp., the second-largest U.S. oil company, said it plans to sell its interest in two Nigerian shallow-water leases in the oil-rich delta of Africa’s top producer.

The sale of interest in oil-mining leases 83 and 85 is “part of a continuous process of portfolio evaluation and business prioritization,” James Craig, a Houston-based company spokesman, said today in an e-mailed response to questions.

Chevron, the third-largest producer in the West African country, operates a joint venture in which it holds a 40 percent stake and state-owned Nigerian National Petroleum Corp. owns 60 percent. The company holds interests in 10 deepwater oil blocks in Nigeria, including its 250,000 barrel-a-day Agbami field located 70 miles (113 kilometers) off the coast.

Chevron joins Royal Dutch Shell Plc and ConocoPhillips in selling Nigerian oil interests.

To contact the reporter on this story: Elisha Bala-Gbogbo in Abuja at ebalagbogbo@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.