Zhenhua Oil signs preliminary deal for $2B in Chevron assets
February 23, 2017
Buildings and Property | Dhaka, Bangladesh | Acquisition
Chinese state-run company Zhenhua Oil has signed a preliminary agreement to acquire from Chevron (NYSE: CVX) the energy behemoth's natural gas assets in Bangladesh that are valued at $2 billion, according to Reuters. Bangladeshi state-run oil company Petrobangla holds the right of first refusal and could reportedly block the transaction, however. Chevron owns the Bibiyana, Jalalabad and Moulavi Bazar gas fields located in eastern Bangladesh.