Chevron (CVX) announced it has entered Libya after being designated as the winning bidder for contract area 106 in the Sirte Basin during the 2025 Libyan bid round. This follows the signing of a memorandum of understanding with the country’s National Oil Corporation to evaluate development and exploration potential onshore. The award of the contract area is subject to the execution of a production sharing agreement.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVX:
- CVX, XOM, OXY: Oil Prices Rise as U.S.-Iran Tensions Escalate
- Trump Trade: U.S. planning to spare Big Tech from next set of tariffs
- Trump plans to repeal ‘endangerment finding,’ WSJ reports
- Mixed options sentiment in Chevron with shares up 0.74%
- Chevron: Solid Cash Flows and Long-Term Catalysts Largely Priced In, Warranting a Hold Rating