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Hungary's MOL buys Chevron stake in Azeri oilfield for $1.57 billion

FILE PHOTO: Logo of Hungarian oil and gas group MOL at the company's refinery in Szazhalombatta
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BUDAPEST (Reuters) - Hungarian energy firm MOL is buying Chevron's stake in a giant oilfield in Azerbaijan for $1.57 billion (£1.22 billion), as U.S. majors retreat from the central Asian state after 25 years to refocus on production at home. MOL said on Monday the deal agreed with Chevron includes a 9.57% stake in the BP-operated Azeri-Chirag-Gunashli (ACG) field in the Caspian Sea and a 8.9%..
Date Published: Nov 04, 2019
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