Chevron made no mention of its plans to sell a portfolio of North Sea assets in reporting its quarterly earnings today.
The energy major disclosed in July that it is aiming to offload all of its central North Sea assets.
Then in September, Equinor announced it had struck a deal with Chevron to acquire its 40% interest in the Rosebank project west of Shetland.
However, none of this was mentioned in the firm’s third quarter results today as the operator looks to make higher returns elsewhere.
Chevron reported pre-tax income of £4.3billion, up from £1.9billion in the same period last year, while total revenues were £33.7bn, up by almost £6bn on 2017.
The operator said the improvement reflected by the rise in oil price.
CEO Michael Wirth also pointed to production increases in the Permian basin in the US as well as Australia, and the sale of its southern Africa refining assets.
However the UKCS, and Chevron’s recent sale of its remaining exploration licenses in Norway, were not discussed.
He said: “Our strong financial results reflect higher production and crude oil prices coupled with a continued focus on efficiency and productivity.
“Net oil-equivalent production of 2.96 million barrels per day represents our highest quarter ever. Ramp-up of Wheatstone in Australia and the Permian Basin in Texas and New Mexico drove a production increase of 9% over the prior year quarter.
“We also completed the sale of our southern Africa refining, marketing and lubricant assets, keeping us on track to meet our asset sales targets.”
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