Chevron (CVX) Exits U.K. North Sea, Divests Remaining Assets

Chevron Corporation (CVX) , the oil and gas supermajor, has recently announced the sale of its U.K. North Sea oil and gas assets. The divestment marks the energy giant’s departure in the region after 55 long years. CVX’s holding in the region includes a 19.4% stake in the Clair oilfield, which has the largest production in the region of 120,000 barrels per day. It will also sell off its minor stakes in the Sullom Voe oil terminal, as well as its stakes in the Ninian and SIRGE pipeline systems.The Claire oil ...