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Chevron Said to Weigh Sale of Asian Geothermal Energy Assets

  • Firm working with advisers, though formal sale hasn't started
  • Low energy prices have led to cutting jobs, canceling projects
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Chevron Corp. is considering a sale of its geothermal assets in Asia as it seeks to counter a slump in energy markets, according to people familiar with the matter.

The operations could fetch as much as $3 billion, said one of the people, who asked not to be named because the deliberations are private. Chevron, the largest U.S. oil producer after Exxon Mobil Corp., is working with financial advisers on the sale, though no formal process has started, and Chevron may decide to keep the assets, the people said.