Govt ready to buy Chevron’s gas assets

The government is ready to purchase the natural gas assets from three gas fields of US energy giant Chevron after fulfilling certain conditions, as Bangladesh needs more energy. This development came to light when a news report published in Bloomberg said Chevron is seeking around USD 2 billion from a sale of natural gas assets in Bangladesh. “We are ready to buy the assets of Chevron at the price mentioned because we are an energy-hungry country. We need more energy,” energy minister Nasrul Hamid told The Independent yesterday.
Petrobangla chairman Istiaque Ahmad told The Independent that Chevron operates under a production sharing contract (PSC) and it has every right to sell its assets to any third party, subject to the approval of the government. “I don’t know whether there is any deal going on between Chevron and any third party. If we get the offer to buy their three gas fields, we will consider it,” he added.  This correspondent tried to contact Chevron several times, but received no response in this respect.
Meanwhile, a news report of Bloomberg, headlined ‘Chevron said to seek $2 billion in sale of Bangladesh gas fields’, was published on October 12. The report said Chevron Corp., the US oil producer, was divesting assets to counter an energy-price slump and is seeking around USD 2 billion from a sale of natural gas assets in Bangladesh.
The San Ramon, California-based company is in talks to sell its interests in natural gas fields it operates in the South Asian nation, according to people in the know.
The sale has drawn interest from suitors including Indian and Chinese oil producers, these people said, asking not to be identified because the information is private. Energy companies have announced USD 41.9 billion in asset sales this year after crude prices fell to the lowest level in more than a decade, according to data compiled by Bloomberg.
Chevron, the largest US oil producer after Exxon Mobil Corp., is seeking buyers for Asian geothermal assets that could fetch as much as USD 3 billion and is also holding talks to sell assets in Indonesia and Thailand, people familiar with the matter said.

 

 

 

Govt ready to buy Chevrons gas assets

The government is ready to purchase the natural gas assets from three gas fields of US energy giant Chevron after fulfilling certain conditions, as Bangladesh needs more energy. This development came to light when a news report published in Bloomberg said Chevron is seeking around USD 2 billion from a sale of natural gas assets in Bangladesh. We are ready to buy the assets of Chevron at the price mentioned because we are an energy-hungry country. We need more energy, energy minister Nasrul Hamid told The Independent yesterday. Petrobangla chairman Istiaque Ahmad told The Independent that Chevron operates under a production sharing contract (PSC) and it has every right to sell its assets to any third party, subject to the approval of the government. I dont know whether there is any deal going on between Chevron and any third party. If we get the offer to buy their three gas fields, we will consider it, he added. This correspondent tried to contact Chevron several times, but received no response in this respect. Meanwhile, a news report of Bloomberg, headlined Chevron said to seek $2 billion in sale of Bangladesh gas fields, was published on October 12. The report said Chevron Corp., the US oil producer, was divesting assets to counter an energy-price slump and is seeking around USD 2 billion from a sale of natural gas assets in Bangladesh. The San Ramon, California-based company is in talks to sell its interests in natural gas fields it operates in the South Asian nation, according to people in the know. The sale has drawn interest from suitors including Indian and Chinese oil producers, these people said, asking not to be identified because the information is private. Energy companies have announced USD 41.9 billion in asset sales this year after crude prices fell to the lowest level in more than a decade, according to data compiled by Bloomberg. Chevron, the largest US oil producer after Exxon Mobil Corp., is seeking buyers for Asian geothermal assets that could fetch as much as USD 3 billion and is also holding talks to sell assets in Indonesia and Thailand, people familiar with the matter said.