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  • Chevron rules out Unocal carve-up if Chinese defeated

    07/06/2005 10:50:06 AM PDT · by hedgetrimmer · 28 replies · 567+ views
    MCN International ^ | 07 July 2005
    WASHINGTON : US oil major Chevron ruled out splitting up Unocal if it wins a battle against a state-owned Chinese company for control of the California firm. Chevron vice chairman Peter Robertson said the China National Offshore Oil Corporation (CNOOC) has no chance of winning Unocal's Asian assets in a carve-up. "If the idea is that we take the US assets and somebody else takes Asia, that is not why we got into this game," he told The Financial Times. Unocal's Asian operations, which comprise 70 percent of its total assets, are the key appeal for both Chevron and CNOOC...