Chevron sold to Chad its interest in oil-producing assets in the Central African nation for about $1.3 billion.
The oil and gas company had a 25% interest in the properties, which included seven oil fields in Chad's Doba Basin. The sale includes Chevron's 21% interest in a a pipeline system that transports crude oil to Cameroon's coast and to other facilities.
Chevron Corp. says it's selling some profitable assets to focus on its global exploration and production business. The deal closed Friday.
Shares of the San Ramon company were up $0.64 to $126.75 in afternoon trading.
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