(MENAFN- Khaleej Times) Chevron Corp is in advanced talks to sell its downstream assets in Egypt and Pakistan, three sources said, with the planned disposals seen raising around $300 million for the US oil major.
Chevron, the second-largest US oil company, is conducting a separate sale process for its assets in both countries, the banking sources said, speaking on condition of anonymity as the matter is not public.
Downstream operations of oil companies include refining and processing of crude oil, as well as the marketing and distribution of products.
The energy firm has received at least three non-binding bids for the assets from interested parties, which include regional and international energy companies, one of the sources said, declining to provide details of the bidders.
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