Desk Report
US Oil giant Chevron Corporation in a press release stated that Chevron Global Ventures Ltd, its wholly-owned indirect subsidiaries operating in Bangladesh has been sold its share to a Chinese consortium named Himalaya Energy Co Ltd that is owned by China ZhenHua Oil Co and CNIC Corporation Ltd.
Due to slumping of oil price, last year Chevron decided to sell out its share of different countries including Bangladesh. Then the govt. of Bangladesh tried to negotiate an offer with Chevron. Chevron didn’t accept the offer and since then they was negotiating with China ZhenHua Oil Co.
Chevron is now fulfilling country’s half of daily demand of gas production that is around 1400 million feet per day (mmcfd) gas. Chevron Bangladesh operates Block 12 (Bibiyana Field) and Blocks 13 and 14 (Jalalabad and Moulvibazar fields).