Chevron Corporation (CVX) Seeks Buyers For 50% Stake in Singapore Refinery, Other Asian Assets

Chevron Corporation (NYSE:CVX) is among the Buffett Stock Portfolio: Top 10 Stock Picks for 2025. The oil major is seeking buyers for 50% of its stake in Singapore Refining Company (SRC), sources familiar with the matter told Reuters on Thursday.

Chevron Corporation (CVX) Seeks Buyers For 50% Stake in Singapore Refinery, Other Asian Assets

A tanker truck making its way through a refinery facility. .

The company is also gauging interest for the divestiture of other assets in Asia, according to the report. These include the terminal and fuel storage facilities in the Philippines and Australia. Chevron Corporation (NYSE:CVX) has appointed Morgan Stanley to explore the sales of Asian assets, including the SRC, one of the sources said.

The move comes amid Chevron Corporation (NYSE:CVX)’s global restructuring measures aimed at reducing costs and streamlining operations, which could result in about 20% of its workforce getting laid off by the end of next year.

In other news this week, the oil giant has acquired about 125,000 acres on lease in northeast Texas and southwest Arkansas, marking its entry into domestic lithium production. On Tuesday, Chevron Corporation (NYSE:CVX) and Exxon Mobil successfully bid for exploration rights in Brazil’s Foz do Amazonas basin.

While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Most Undervalued Stocks to Buy for Under $5 and 10 Best Drone Stocks to Buy According to Billionaires.

Disclosure: None.