|
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
. | ![]() |
. |
|
![]() |
![]() by Daniel J. Graeber Vilnius, Lithuania (UPI) Jul 9, 2013
U.S. supermajor Chevron announced it has shut down its offices in Lithuania and sold off half of its interests in the country. "Chevron closed its office in Vilnius, Lithuania," a statement posted Tuesday on its website said. "The company has divested its 50 percent equity interest in [joint venture] LL Investicijos." In a separate statement, Swedish energy company Tethys Oil said it increased its stake in the Rietavas license in Lithuania from 14 percent to 30 percent as part of the joint venture in the country with Chevron. "The work program, focused on evaluation of the license area for conventional and unconventional hydrocarbon potential, continues as planned and is not affected by Chevron's exit," the Swedish company said. Chevron in a 2013 annual report said three exploration wells had been drilled into the Rietavas block and results were under evaluation. No estimate of the reserve potential was given. Britain, Poland and Lithuania are among the handful of members of the European Union said to be rich in shale natural gas deposits. No value of the transaction was disclosed. Chevron gave no reason for the divestment.
Related Links All About Oil and Gas News at OilGasDaily.com
|
![]() |
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |