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Chevron explores selling $2B pipeline assets amid financial pressures and refinery fire.
Chevron is exploring the sale of pipeline assets in the Denver-Julesburg shale basin, potentially raising over $2 billion, according to sources.
The assets, acquired via Noble Energy in 2020, are being marketed by Bank of America and are estimated to generate $200 million in EBITDA.
The sale is not confirmed, and Chevron may keep some or all of the assets.
The company, which recently completed a $55 billion acquisition of Hess, faces financial pressure from oil price volatility and rising costs.
Meanwhile, a fire at Chevron’s El Segundo refinery in California shut down key units, disrupting jet fuel supply for southern California.
In other energy developments, Iran’s IOOC has acquired two advanced offshore drilling rigs to boost production in the Persian Gulf, supporting a recent rise in crude output to over four million barrels per day.
Eni has resumed offshore drilling in Libya’s Block 16/4 after a five-year pause, while Nigeria’s oil rig count has surged to 69 since 2021, driven by policy reforms and a push to activate dormant fields, with a goal of reaching 2.5 million barrels per day by 2027.
Chevron explora la venta de $ 2 mil millones de activos de oleoductos en medio de presiones financieras y el fuego de la refinería.