Did Chevron sell out to China, if so who owns the new oil in the gulf. I can only remember that China was trying to buy an American oil company. I do not know if the deal was stopped or not. I also do not remember if it was Chevron. If it was and the deal was complete then does China own the new oil in the gulf.A few months ago China was trying to by a U S oil company. I want to know if it was Chevron Did they buy it?
China was trying to buy Unocal, however Chevron bought Unocal before the chinese company could finish the take over. The oil block in the Gulf of Mexico is leased from the MMS to Statoil, Devon, and Chevron.A few months ago China was trying to by a U S oil company. I want to know if it was Chevron Did they buy it?
The other persons answer is correct but not complete. Chevron didn't buy Unocal, they bought a part of there opereation. It was a deal for land that had oil under it. Chevron was already in the process when a chinesse government backed oil company decided they wanted it. The deal with chevron was for aroung 11 to 14 billion dollars. The china oil company put 18.something billon up so chevron decided to match it to save the deal. They also absorbed a debt that chevron owed unocal in the deal it was for a few hundered million.
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