Chevron Cancels Plan To Exit Bangladesh Gas Field

Chevron has decided to keep its presence in Bangladesh, the company said in a statement yesterday without elaborating on the motive behind this decision. Earlier this year, the company had announced plans to sell its local subsidiaries to Chinese Himalaya Energy Co Ltd. The sale plan was part of a wider asset disposal program designed to rid Chevron of non-core operations, but according to Dhaka Tribune, negotiations with the company’s local partner, Petrobangla, and the government, resulted in a reversal of its earlier decision. Now, instead…

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