Chevron plans to sell its UK North Sea assets, marking its exit after 55 years, aiming to raise up to $1 billion.

Chevron plans to sell its remaining UK North Sea oil and gas assets, marking its exit from the region after 55 years. The company holds a 19.4% stake in the Clair oilfield and interests in the Sullom Voe oil terminal and related pipeline systems. The sale, expected to launch in June, aims to raise up to $1 billion and is part of Chevron's focus on new low-cost projects and most profitable assets.