Chevron Announces Planned Sale of Bangladesh Companies
April 24 2017 - 5:00AM
Business Wire
Transaction aligned with asset sales
objectives
Chevron Corporation (NYSE: CVX) announced that its wholly-owned
subsidiary, Chevron Global Ventures, Ltd., has entered into an
agreement to sell the shares of its wholly-owned indirect
subsidiaries operating in Bangladesh to Himalaya Energy Co. Ltd.
Chevron Bangladesh operates Block 12 (Bibiyana Field) and Blocks 13
and 14 (Jalalabad and Moulavi Bazar fields). Closing of the
transaction is subject to the satisfaction of certain closing
conditions.
Chevron Corporation is one of the world’s leading integrated
energy companies. Through its subsidiaries that conduct business
worldwide, the company is involved in virtually every facet of the
energy industry. Chevron explores for, produces and transports
crude oil and natural gas; refines, markets and distributes
transportation fuels and lubricants; manufactures and sells
petrochemicals and additives; generates power; and develops and
deploys technologies that enhance business value in every aspect of
the company’s operations. Chevron is based in San Ramon, Calif.
More information about Chevron is available at www.chevron.com.
NOTICE
CAUTIONARY STATEMENT RELEVANT TO
FORWARD-LOOKING INFORMATIONFOR THE PURPOSE OF “SAFE HARBOR”
PROVISIONS OF THEPRIVATE SECURITIES LITIGATION REFORM ACT OF
1995
This press release contains forward-looking statements relating
to Chevron’s operations that are based on management’s current
expectations, estimates and projections about the petroleum,
chemicals and other energy-related industries. Words or phrases
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outcomes and results may differ materially from what is expressed
or forecasted in such forward-looking statements. The reader should
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speak only as of the date of this release. Unless legally required,
Chevron undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.Among the important factors that could
cause actual results to differ materially from those in the
forward-looking statements are: changing crude oil and natural gas
prices; changing refining, marketing and chemicals margins; the
company’s ability to realize anticipated cost savings and
expenditure reductions; actions of competitors or regulators;
timing of exploration expenses; timing of crude oil liftings; the
competitiveness of alternate-energy sources or product substitutes;
technological developments; the results of operations and financial
condition of the company’s suppliers, vendors, partners and equity
affiliates, particularly during extended periods of low prices for
crude oil and natural gas; the inability or failure of the
company’s joint-venture partners to fund their share of operations
and development activities; the potential failure to achieve
expected net production from existing and future crude oil and
natural gas development projects; potential delays in the
development, construction or start-up of planned projects; the
potential disruption or interruption of the company’s operations
due to war, accidents, political events, civil unrest, severe
weather, cyber threats and terrorist acts, crude oil production
quotas or other actions that might be imposed by the Organization
of Petroleum Exporting Countries, or other natural or human causes
beyond its control; changing economic, regulatory and political
environments in the various countries in which the company
operates; general domestic and international economic and political
conditions; the potential liability for remedial actions or
assessments under existing or future environmental regulations and
litigation; significant operational, investment or product changes
required by existing or future environmental statutes and
regulations, including international agreements and national or
regional legislation and regulatory measures to limit or reduce
greenhouse gas emissions; the potential liability resulting from
other pending or future litigation; the company’s future
acquisition or disposition of assets or shares or the delay or
failure of such transactions to close based on required closing
conditions; the potential for gains and losses from asset
dispositions or impairments; government-mandated sales,
divestitures, recapitalizations, industry-specific taxes, changes
in fiscal terms or restrictions on scope of company operations;
foreign currency movements compared with the U.S. dollar; material
reductions in corporate liquidity and access to debt markets; the
effects of changed accounting rules under generally accepted
accounting principles promulgated by rule-setting bodies; the
company’s ability to identify and mitigate the risks and hazards
inherent in operating in the global energy industry; and the
factors set forth under the heading “Risk Factors” on pages 20
through 22 of Chevron’s 2016 Annual Report on Form 10-K. Other
unpredictable or unknown factors not discussed in this press
release could also have material adverse effects on forward-looking
statements.
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Chevron CorporationCam Van Ast, +61 (8) 9216 4462
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