China Will Buy Bangladesh Chevron
hevron is United states oil and gas giant and one of the biggest energy sector investor in Bangladesh . In a recent deal with Chinese state owned Zhenhua and Chevron , china may buy Chevrons Bangladesh gas field by 2 billion dollar .
Reuters reported already preliminary deal with Chevron to buy the U.S. oil major’s natural gas fields in Bangladesh was signed and further agreements on the table .
Zhenhua is a subsidiary of China’s defense industry conglomerate NORINCO. A completed deal would mark China’s first major energy investment in the South Asian country .
Bangladesh, though, holds the right of first refusal on the assets and could block the transaction. The country, via its national oil company Petrobangla, is keen to buy the gas fields and is talking to international banks to raise financing, according to a banking source familiar with the process