Chevron’s $1B Chinese Offshore Oil Asset Sale Hits A Snag

Chevron’s plan to sell its non-operated interests in oilfields offshore China for up to $1 billion has been stalled since the U.S. major has not received good enough bids, Bloomberg reported on Tuesday, quoting people in the know.Chevron had planned to sell the stakes it holds in three oilfields in the Bohai Bay in China, but since no bidder has matched the price the U.S. group had been aiming for, Chevron is thinking of keeping the interests for now, Bloomberg’s sources said.According to the sources, Chinese companies AAG Energy Holdings,…