Chevron sells Alberta oil sands & shale assets to Canadian Natural Resources for US$6.5B

CHEVRON CORP

Sale of 20% non-operated interest in Athabasca Oil Sands Project and 70% operated interest in Duvernay shale.
Total cash consideration of US$6.5B; effective date Sept 1, 2024, expected close Q4 2024.
Assets contributed 84,000 boe/d of production to Chevron in 2023.
Part of Chevron's plan to divest $10-15 billion in assets by 2028 to optimize portfolio.

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