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Chevron To Withdraw Its Stake In Indonesian Deepwater Development (IDD) Project

By John F. Heerdink, Jr.

Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide.

As per reports, U.S oil giant Chevron is planning to sell its participating interest in the Indonesian Deepwater Development (IDD) gas project to cut costs and streamline operations. The project located in the Makassar Strait includes the Bangka, Gendalo and Gehem gas fields. As per their website, Chevron has a 62% interest in the Bangka project and about 63% in the Gendalo-Gehem project. In 2018, the government informed that Chevron has planned to reduce its investment for the project to $6 billion from $12.8 billion.

To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Chevron weighs sale of stake in Indonesian Deepwater Development project in Reuters)


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