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Chevron looks to scale back Nigerian presence with oilfield sales

Chevron looks to scale back Nigerian presence with oilfield sales

Chevron is seeking to sell several Nigerian oilfields as part of a global drive to reshape its portfolio as it focuses on growing its U.S. shale output, banking and industry sources said.

Chevron joins rivals including Exxon Mobil and Royal Dutch Shell in a drive by foreign oil companies to reduce their footprint in Africa’s largest oil producer which has been mired in political and security instability in recent years.

ALSO READ: NNPC sets deadline for accurate crude oil, fuel consumption data

The San Ramon, California-based company, Nigeria’s third largest oil producer, is looking for buyers for a number of its the onshore and shallow offshore fields, where local producers have expanded their presence.

Continue reading Chevron looks to scale back Nigerian presence with oilfield sales at Vanguard News.


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