DHAKA Oct 13 Chevron Corp confirmed
that the company is in "commercial discussions" regarding its
Bangladesh assets, as the second-largest U.S. energy company
moves forward with plans to sell assets amid a prolonged slump
in energy prices.
However, Chevron stressed that no decision has been made to
sell its assets in the country. "We will only proceed if we can
realize attractive value for Chevron," it said in a statement on
The San Ramon, California-based company disclosed in October
last year plans to sell about $10 billion of assets by 2017.
In July, Chevron posted its biggest quarterly loss since
2001, hurt by the slump in crude prices and refining income.
Bloomberg earlier reported that Chevron is seeking about $2
billion from the sale of natural gas assets in Bangladesh,
citing people familiar with the matter. (bloom.bg/2d8JpJG)
The Bangladesh assets sale has drawn interest from suitors
including Indian and Chinese oil producers, Bloomberg reported.
Chevron, through its units in Bangladesh, produces natural
gas and condensate from three fields in the northeast of the
country, according to its website.
"We don't have much information about the sale of
Bangladesh's asset as the discussions are going on in our head
office at a very high level," an official at Chevron in
Bangladesh said on Thursday.
(Reporting by Subrat Patnaik in Bengaluru and Serajul Quadir in
Dhaka; Editing by Christian Schmollinger)