US oil giant quits North Sea as Hunt refuses to scrap tax

The US oil giant Chevron has announced it will quit the North Sea after 55 years, the day after Jeremy Hunt turned down industry pleas for support at a private meeting. Chevron said that it …

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Chevron Leaves North Sea With $2bn Asset Sale.

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Nov 12, 2019 · CHEVRON has become the latest oil major to quit the North Sea, after it completed the sale of its entire oil and gas portfolio in the basin to Israeli-owned Ithaca Energy …

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FAQs about US oil giant quits North Sea as Hunt refuses to scrap tax Coupon?

Will Chevron sell its North Sea oil & gas assets?

Chevron said it is set to launch the sale of its remaining UK North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years. ...

Will Chevron quit the North Sea after 55 years?

Hollie Adams/REUTERS © Provided by The Telegraph The US oil giant Chevron has announced it will quit the North Sea after 55 years, the day after Jeremy Hunt turned down industry pleas for support at a private meeting. ...

Is Chevron exiting the North Sea in 2021?

Chevron is the latest oil major to exit the North Sea in 2021. Rival ExxonMobil also exited the North Sea in 2021, while BP and Shell have both wound down their respective portfolios in the region. ...

Which oil companies have sold North Sea assets?

In 2019, Chevron's sold many of its North Sea assets to Ithaca Energy ITH.L. Other major oil companies, including Exxon Mobil and Shell, have sold assets in the basin since the 2010s. ...

How much will Chevron's North Sea oil sale raise?

The sale of Chevron's North Sea oil interests could raise up to £791m. The process is expected to be formally launched in June, according to multiple industry sources. Chevron was among the first oil companies to drill in the North Sea in the 1960s, but has since pulled out of exploration and production after offloading its drilling assets in 2019. ...

Why did Chevron leave the North Sea?

Chevron was among the first oil companies to drill in the North Sea in the 1960s, but it has since pulled out of exploration and production after offloading its drilling assets in 2019. The latest planned sale would see Chevron leave its remaining interests in the region, including a 19.4% stake in the Clair oilfield, west of Shetland. ...