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Stock Market & Financial Investment News

News Breaks
June 13, 2014
13:09 EDTCVXChevron sells interests in Chad and Cameroon for $1.3B
Chevron announced that its subsidiary, Chevron Global Energy, has sold its 25% non-operated interest in a producing oil concession in southern Chad and the related export pipeline interests to the Republic of Chad for approximately $1.3B. The sale closed June 13. The transaction includes the sale of the Chevron subsidiaryís interests in seven fields in Chadís Doba Basin, which in 2013 had an average net daily crude oil production of about 18,000 barrels. The sale also includes the Chevron subsidiaryís approximate 21% non-operated interest in a pipeline system that transports crude oil to the coast of Cameroon as well as associated marine facilities.
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