Chevron to Exit North Sea After 55 Years, Selling Remaining Assets

The energy giant plans to divest its stakes in key oilfields and infrastructure, focusing on more profitable ventures.

Chevron to sell its 19.4% stake in the Clair oilfield, the largest in the UK North Sea.
The sale includes interests in the Sullom Voe Terminal and associated pipeline systems.
The divestment is part of Chevron's strategy to streamline its global portfolio.
The decision follows a review of asset competitiveness and is not linked to UK tax policies.
Other major oil companies have also reduced their North Sea operations in recent years.