Chevron Corporation (CVX) Competing for Libya's First Oil and Gas Exploration Tender

Yahoo

8 hours ago

Chevron Corporation (NYSE:CVX) is one of the . On July 2nd, Bloomberg reported that Chevron Corporation (NYSE:CVX) is one of the 37 global energy firms competing in Libya's first oil and gas exploration tender since the 2011 conflict that toppled Muammar Qaddafi.
The tender is a significant milestone for oil companies as Libya holds Africa's largest proven oil reserves. Libya, seeks to restore and boost its battered oil sector after more than a decade of instability and conflict. The country aims to increase its daily oil production to 2 million barrels by 2030, surpassing the previous peak of 1.75 million barrels in 2006 under Qaddafi's rule.
An aerial view of an oil rig at sea, the sun glinting off its structure.
The report highlighted that Chevron Corporation (NYSE:CVX), along with TotalEnergies SE, Eni SpA, Exxon Mobil, and other major international oil companies, have expressed interest in acquiring exploration rights for 22 offshore and onshore blocks. Contracts with successful bidders are expected to be signed by the end of 2025.
Chevron Corporation (NYSE:CVX) is one of the world's largest integrated energy companies, operating across the entire energy value chain. Its activities span from the exploration and production of raw energy resources to the delivery of refined products and advanced energy solutions.
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