--Glencore PLC (GLEN.LN) is close to buying Chevron Corp.'s (CVX) southern African assets for $1 billion, according to three sources familiar with matter, Bloomberg reports.

--Glencore will complete the deal within the next six weeks, according to one of the sources, derailing an earlier agreement between Chevron and China Petroleum & Chemical Corp. (SNP), reports Bloomberg.

--The assets include a 100,000 barrel-a-day refinery in Cape Town, as well as more than 800 gas stations in South Africa and Botswana, Bloomberg reports.

Full story: https://bloom.bg/2LjBsyH

Write to Barcelona editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

May 21, 2018 10:53 ET (14:53 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Chevron (NYSE:CVX)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Chevron Charts.
Chevron (NYSE:CVX)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Chevron Charts.