Chevron Concludes Sale of Geothermal Operations in Indonesia

Source: Chevron

Chevron Corporation (NYSE:CVX) announced that its wholly-owned subsidiaries have completed the sale of Chevron's geothermal business in Indonesia to Star Energy Consortium.

Darajat Unit I owned by Indonesia Power (a PLN subsidiary) with steam supplied by Chevron (source: wienblog-growingtree/ blogspot)

SAN RAMON, Calif.--(BUSINESS WIRE)--Mar. 31, 2017-- Chevron Corporation (NYSE:CVX) announced that its wholly-owned subsidiaries have completed the sale of Chevron's geothermal business in Indonesia to Star Energy Consortium. Chevron received the cash proceeds upon settlement on March 31, and will reflect the gain in first quarter 2017 results. The conclusion of the sale of Chevron's geothermal business in the Philippines is expected later in 2017.

Chevron Corporation is one of the world's leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

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