11:32 - 9.10.2024

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October 9, Fineko/abc.az. The management of U.S. oil & gas giant Chevron has announced an agreement with Canadian Natural Resources Limited about sale of a 20% stake in project Athabasca Oil Sands and a 70% stake in DuVernay shale.

ABC.AZ reports, citing foreign media, that the total production of assets that are the subject of the agreement, minus royalties, in 2023 amounted to 84,000 b/d of oil equivalent per day. The deal will amount to about $6.5 billion. The contract will be paid in cash and may be concluded in the 4th quarter of this year. Earlier, Chevron planned to sell assets worth $10-15 billion by 2028 to optimize its asset portfolio.

Freedom Finance Global analysts are neutral about the deal, given previously announced plans to sell assets.