Chevron Next in Line to Sell-off Egyptian Downstream

Wednesday, May 22, 2013

Another major firm is reported to be selling off its downstream interests in Egypt and elsewhere. According to various reports the US major Chevron is in advanced talks regarding its Egyptian and Pakistani assets.

Sources have Chevron receiving at least three non-binding bids for the assets from interested parties.

The news on Chevron follows a report earlier this month that Shell is exiting its retail and commercial fuels business in Egypt, reaching an agreement with Total for an undisclosed amount.

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