Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
RAMON, Calif. (AP) — Chevron sold to Chad its interest in oil producing assets in the Central African nation for about $1.3 billion.
The oil and gas company had a 25 percent interest in the properties, which included seven oil fields in Chad's Doba Basin and a pipeline system that transported crude oil to Cameroon's coast and to other facilities.
Chevron Corp. says it's selling some profitable assets to focus on its global exploration and production business. The deal closed Friday.
Shares of the San Ramon company are up 64 cents to $126.75 in afternoon trading.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.