Oil major Chevron is said to be planning to sell a number of assets in Asia worth up to $5billion.
According to reports in the Wall Street Journal, the company plans to start selling its offshore China assets this month.
Chevron currently has a stake in an offshore oil field venture with China’s state-owned oil company CNOOC.
The newspaper said the sale of this asset alone could bring in up to $1billion.
It comes after Chevron revealed plans in October last year to sell about $10billion of assets by 2017.
Other assets potentially included in the sale are in Indonesia and Thailand and are also part of the company’s divestiture plans.
Recommended for you
