Chevron Corp (CVX)

[eFinanceMarkets]

Bloomberg: Chevron's $1B sale of China oilfields fails to meet expectations
Chevron's (CVX +0.3%) sale of its stakes in three Chinese offshore oil fields has stalled after bids failed to meet expectations, Bloomberg reports.
CVX had hoped to sell its interests in three fields in China’s Bohai Bay for as much as $1B, but now it may wind up keeping the assets, according to the report.
CVX owns a 24.5% working interest in the QHD32-6 field, as well as a 16.2% each in the Bozhong 25-1 and Bozhong 19-4 fields; China's state-owned Cnooc (CEO -0.4%) holds the remaining stake in each field and is the operator.