Chevron to Sell All Gas Stakes in Myanmar

Chevron to Sell All Gas Stakes in Myanmar

US oil and gas major Chevron put all of its Myanmar gas block stakes up for sale, which at a combined likely valuation of $1.3, would be the biggest deal involving Myanmar assets to date, financial sources familiar with the matter told Reuters. By his side, Chevron, which has been operating in Myanmar for about two decades, declined to comment.

The sale, part of Chevron’s efforts to preserve cash and retreat from non-core assets in the wake of sliding oil prices, is seen as setting the tone for future deals in a country that is opening up for business after historic elections last year, Seeking Alpha added.


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