Chevron is Selling $1.2 Billion in Gas Assets in Myanmar
Reuters reported that Chevron (NYSE:CVX) has put its gas stakes in Myanmar up for sale. This could represent the largest transaction involving Myanmar’s gas assets. As quoted in the publication: The sale is part of Chevron’s efforts to preserve cash and retreat from non-core assets in the wake of sliding oil prices. It is also … Continued
Reuters reported that Chevron (NYSE:CVX) has put its gas stakes in Myanmar up for sale. This could represent the largest transaction involving Myanmar’s gas assets.
As quoted in the publication:
The sale is part of Chevron’s efforts to preserve cash and retreat from non-core assets in the wake of sliding oil prices. It is also seen as setting the tone for deals in a country that investors hope will see continued reforms after a historic election win by Aung San Suu Kyi’s National League for Democracy last year.
The sources said suitors could number about half a dozen and would likely include Thailand’s PTT Exploration, Australia’s Woodside Petroleum and Production, Japanese trading houses and Chinese companies.
