China State Firm To Buy Chevron Bangladesh Oil Fields For $2 Billion: Report

Chevron Corp. has signed a preliminary deal with China's Zhenhua Oil, a state-run oil and gas explorer, to sell its major natural gas fields in Bangladesh for about $2 billion, Reuters reported, citing Beijing-based oil executives. Bangladesh, with rights of first refusal on those gas fields, could scupper the deal, as its national oil company Petrobangla is trying to drum up financing to purchase them, the report said, citing sources. A spokesperson for Zhenhua Oil, Zhang Xiodi, declined to comment to Reuters. A spokesperson for Chevron could not immediately be reached for comment.